Free Order on Motion for Release of Bond Obligation - District Court of Colorado - Colorado

Case 1:00-cv-02325-MSK-MEH

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Filed 02/14/2007

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IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO Honorable Marcia S. Krieger

Civil Action No. 00-cv-02325-MSK-MEH SIERRA CLUB and MINERAL POLICY CENTER, Plaintiffs, v. CRIPPLE CREEK AND VICTOR GOLD MINING COMPANY, ANGLOGOLD ASHANTI (COLORADO) CORPORATION, ANGLOGOLD ASHANTI NORTH AMERICA, INC., and GOLDEN CYCLE GOLD CORPORATION, Defendants, and Civil Action No. 01-cv-02307-MSK-MEH SIERRA CLUB, and MINERAL POLICY CENTER, Plaintiffs, v. CRIPPLE CREEK & VICTOR GOLD MINING COMPANY, ANGLOGOLD (COLORADO) CORPORATION, ANGLOGOLD NORTH AMERICA, INC., and GOLDEN CYCLE GOLD CORPORATION, Defendants.

ORDER AMENDING JUDGMENT AND GRANTING MOTION FOR STAY OF JUDGMENT PENDING APPEAL

THIS MATTER comes before the Court on the Plaintiffs'Motion for Stay of Judgment

Case 1:00-cv-02325-MSK-MEH

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Pending Appeal and to Waive Bond, or in the Alternative, to Allow for Letter of Credit or Reduced Bond (#351). The Defendants did not respond to this motion.1 Also before the Court is the Defendants' Notice of Non-Payment of Attorney Fees Award (#359). Having considered the same, the Court FINDS and CONCLUDES that: On December 20, 2006, the Court issued an Order (#345) directing the Plaintiffs to pay attorney fees to the Defendants in the total amount of $324,644.25. Such Order provides that payment was to be made by January 31, 2007, failing which the Court would enter a judgment in favor of each Defendant against the Plaintiffs, jointly and severally. The Plaintiffs failed to make such payment. Therefore, the Court will amend the judgment (#310), nunc pro tunc to December 20, 2006, to include the award of attorney fees. The Plaintiffs ask the Court to stay collection on such judgment and to relieve them from the requirement of posting a supercedeas bond. Their request is premised upon their status as nonprofit groups that have acted in the public interest. They contend that imposition of a bond requirement would impose a hardship on them because their assets, although plentiful, are not liquid. They offer to provide a letter of credit from Wells Fargo Bank in lieu of posting a bond, and suggest that a surety letter in the amount of $50,000 would be appropriate. They also ask that if a bond is required, that the amount of such bond be set at $25,000. The Defendants have not filed a response in opposition to this motion. Pursuant to Fed. R. Civ. P. 62(d): When an appeal is taken the appellant by giving a supersedeas bond
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A response was due February 12, 2007. 2

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may obtain a stay subject to the exceptions contained in subdivision (a) of this rule. The bond may be given at or after the time of filing the notice of appeal or of procuring the order allowing the appeal, as the case may be. The stay is effective when the supersedeas bond is approved by the court. The purpose of a supercedeas bond is to secure the judgment against insolvency. Strong v. Laubach, 443 F.3d 1297, 1299 (10th Cir. 2006). The amount of the bond is typically for the full amount of the judgment, but the Court has discretion in setting the amount. Id. The Defendants have filed no response in opposition to the Plaintiffs'motion. Therefore, the Court deems the motion to be unopposed, and grants it. Collection on the judgment shall be stayed upon the Plaintiffs' posting of either a $25,000 supercedeas bond or a $50,000 letter of credit from Wells Fargo Bank as surety for the benefit of Judgment Creditors. IT IS THEREFORE ORDERED that: (1) The judgment (#310) is amended, nunc pro tunc to December 20, 2006, to further provide that: (A) Judgment is entered in favor of Defendants AngloGold (Colorado) Corporation, AngloGold Ashanti North America, and the Cripple Creek & Victor Gold Mining Company against the Plaintiffs, jointly and severally, in the amount of $296,313.75. (b) Judgment is entered in favor of Defendant Golden Cycle Gold Corporation against the Plaintiffs, jointly and severally, in the amount of $28,330.50. (2) The Plaintiffs'Motion for Stay of Judgment Pending Appeal and to Waive Bond, or in the Alternative, to Allow for Letter of Credit or Reduced Bond (#351) is GRANTED IN PART and DENIED IN PART. 3

Case 1:00-cv-02325-MSK-MEH

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(3)

Upon the Plaintiffs'payment of a supercedeas bond in the amount of $25,000, or upon their submission of a $50,000 letter of credit from surety Wells Fargo Bank, collection on the monetary portion of the judgment shall be STAYED pending appeal.

Dated this 14th day of February, 2007 BY THE COURT:

Marcia S. Krieger United States District Judge

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