Opinion
Case No. 1:01CV00105
April 8, 2003
ORDER CONFIRMING ARBITRATION AWARD AND JUDGMENT
In this proceeding, the court inadvertently entered an order of confirmation on March 14, 2003, upon Plaintiff's request without giving Defendants as opportunity to object. Subsequently, Defendants gave notice of objection to a portion of the proposed judgment. The court set the judgment aside.
Now the parties have fully briefed their positions and the court finds the issue to be a narrow one of the rate of post-judgment interest to be assessed against Defendants. The Plaintiff seeks post-judgment interest at the rate of 8% as authorized under North Carolina law and the Defendants assert that post-judgment interest should be at the rate set forth in 28 United States Code § 1961. The court has reviewed the parties' contentions and finds the statute, 28 U.S.C. § 1961, to be unequivocal. The statute has been addressed in Forest Sales Corp. v. Bedingfield, 881 F.2d 111, 112 (4th Cir. 1989). Post-judgment interest is controlled by 28 U.S.C. § 1961. In all other respects, the judgment of March 14, 2003, should be affirmed.
IT IS THEREFORE ORDERED
1. That the February 3, 2003, arbitration award is confirmed;
2. That judgment is hereby entered against Defendant Carolina Neurological Associates, P.A., and in favor of plaintiff John M. Whitley, M.D., PhD., in the amount of One Million Forty-Seven Thousand Seven Hundred and Thirty-Four Dollars ($1,047,734.00), together with interest at the rate of eight percent (8%) per annum from February 3, 2003, to the date of this judgment. From the date of this judgment, interest shall accrue at the rate set forth in 28 U.S.C. § 1961;
3. That Plaintiff John M. Whitley, M.D., PhD., and Defendant Carolina Neurological Associates, P.A., are each ordered to pay the sum of $4,669.00 to the independent referee Sharrard, McGee Co., P.A.;
4. That plaintiff's claims against the individual defendants are dismissed with prejudice.