Tentative Ruling: Volvo Financial Services vs Gina Wilcox, Frank Alfino and Wilco Engineering Inc

Case Number

22CV00350

Case Type

Hearing Date / Time

Wed, 09/20/2023 - 10:00

Nature of Proceedings

Plaintiff’s Motion to Determine Contractual Interest

Tentative Ruling

Peter J. Mastan, Gina Kripotos for Plaintiff

Defendants Gina Wilcox and Frank Alfino are self-represented

Defendant Wilco Engineering Inc is not represented

Issue

Plaintiff’s Motion to determine contractual interest.

Ruling

The motion is GRANTED; the Court awards interest of $19,875.32. 

There is a [proposed] Order submitted that the Court intends to sign. Note: This case is also on the 11:30 am default calendar re: Volvo vs Wilco Engineering Inc.

Analysis

On July 12, 2023, the Court held a hearing on Plaintiff’s MSJ and issued a minute order granting Plaintiff’s MSJ against Wilcox and Alfino (“Minute Order”). The Minute Order provided for judgment against Wilcox and Alfino, jointly and severally, in the amount of $109,088.53 (the Deficiency Balance due and owing under the Note). The Minute Order notes that Plaintiff is probably entitled to interest, but that Plaintiff would need to make a separate motion for interest that Plaintiff claims is due and owing under the Note. (Kripotos Decl., ¶¶ 9-10, Exh. A).

On 8/28/23 Plaintiff filed a motion to set the interest. VFS requests that the Court grant this Motion and order an award to Plaintiff for contractual interest in the amount of $51,107.98 [interest at a rate of 18% per annum]; alternatively, if the Court finds that 7% is the appropriate interest rate to be applied to the Deficiency Balance, VFS requests that this Court order an award to Plaintiff for contractual interest in the amount of $19,875.32.

Supported by the Declaration of Gina Kripotes [9/28/23]; an attorney with the law firm of Dinsmore & Shohl LLP, attorneys of record for Plaintiff Volvo Financial Services (“Plaintiff”). 

Supported by the Declaration of Betty Carr [8/28/23]; a Senior Bankruptcy and Litigation Specialist for Plaintiff.

Opposition

The Motion is not opposed.  

The Court

7% interest is appropriate here.