Ryu v. Hope Bancorp, Inc.
| Suk Joon Ryu |
| Hope Bancorp, Inc. |
| 1:2018cv01236 |
| February 12, 2018 |
| US District Court for the Southern District of New York |
| Foley Square Office |
| XX Out of State |
| Jed S. Rakoff |
| Other Contract |
| 28 U.S.C. ยง 1332 |
| None |
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Filing
169
ORDER for 166 Report and Recommendations, 151 Motion for Attorney Fees filed by Suk Joon Ryu. Accordingly, the Court grants Ryu's motion, subject to the limitations contained in Magistrate Judge Parker's R&R, with respect to the portions that the R&R addresses. The amount due to Ryu in connection with these portions of his third application is $12,625.00 plus pre-judgment interest at the rate of 9% per annum. See N.Y.C.P.L.R. § 5004. Hope Bancorp must pay thi s amount by no later than April 17, 2020, at 5:00 p.m. With respect to the one issue not addressed by the R&R regarding fees and costs incurred after October 1, 2019, see R&R 2 n.1, the Court sets the following briefing schedule: (1) Hope Bancorp 9;s moving brief, not to exceed five double-spaced pages, due April 17, 2020, at 5:00 p.m.; and (2) Ryu's responding brief, not to exceed five double-space pages, due April 22, 2020, at 5:00 p.m. There will be no reply brief, and no oral argument will be held. (Brief due by 4/17/2020., Responses to Brief due by 4/22/2020) (Signed by Judge Jed S. Rakoff on 4/10/2020) (rro)
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Filing
165
MEMORANDUM ORDER adopting 159 Report and Recommendations re: 131 Motion for Attorney Fees: In conclusion, the Court grants Ryu's second application for advancement of certain legal fees and expenses, subject to the limitations set forth in this Memorandum Order and in the Magistrate Judge's R&R (to the extent not corrected by this Memorandum Order). As so corrected, the amount due to Ryu in connection with his second application is $79,058.26 ($53,840.06 to Steve Harvey Law, $7,963.20 to Greenberg Freeman LLP, and $17,255.00 to Marcum Group), plus pre-judgment interest on that amount at the rate of 9% per annum under N.Y.C.P:L.R. § 5004. Hope Bancorp is ordered to pay this amount by no later than March 13, 2020 at 5:00 p.m. The Clerk of the Court is directed to close the entry bearing docket number 131. (Signed by Judge Jed S. Rakoff on 3/5/2020) (jwh) Transmission to Orders and Judgments Clerk for processing.
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Filing
149
MEMORANDUM ORDER denying without prejudice 135 Motion for Sanctions: For the foregoing reasons, Hope Bancorp is hereby directed to, within two weeks of this Memorandum Order, advance payments with respect to the July Invoices, the August Invoices and any subsequent invoices submitted after Ryu filed the instant motion (and withdraw funds from the escrow to the extent necessary) so as to place Ryu in the same position as if Hope Bancorp had never raised the objections to those invoices on the ground that Ryu had released his advancement rights under the Merger Agreement. If Hope Bancorp fails to comply with this directive within two weeks, Ryu may reapply for imposing sanctions and holding Hope Bancorp in contempt of court. The Clerk is directed to close the entry with the docket number 135. (Signed by Judge Jed S. Rakoff on 11/15/2019) (jwh)
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Filing
34
OPINION AND ORDER re: 14 MOTION for Summary Judgment filed by Suk Joon Ryu, 19 MOTION to Dismiss filed by Hope Bancorp, Inc: In sum, defendant's motion to dismiss is denied and plaintiff's motion for summary judgment is gran ted in part. The Court finds that Ryu is entitled to advancement of the fees and costs he has incurred in connection with the Government Investigations and in defending against the Embezzlement Action, with the exception of those fees and costs incur red in connection with the civil claims arising out of allegations that Ryu stole two computers from BankAsiana upon his departure. Moreover, Ryu's "defense" against the Embezzlement Action does not include any counterclaims or cross-c laims apart from his first claim for defamation and his claim for illegal seizure of funds. Finally, the Court intends to transfer this action to the federal district court for the District of New Jersey so that that court may determine what fees hav e been incurred thus far and establish a summary procedure for the advancement of fees going forward. New Jersey would be a proper venue for this action since "a substantial part of the events or omissions giving rise to the claim" occurred there. 28 U.S.C. § 1391(B). The case is before this Court only because of a forum selection provision in the Merger Agreement. Prior to the commencement of this action, plaintiff requested that Hope Bancorp waive that provision so that this act ion could be heard in New Jersey, and Hope Bancorp refused the request. Def. Counter 56.1 Statement at paragraph 43. At the April 9, 2018 hearing, counsel for defendant consented, subject to consultation with his client, to transferring the action to New Jersey in the event that the Court were to deny defendant's motion to dismiss. See Tr. at 15:3-16:8. Counsel for plaintiff also consented. See id. Counsel for defendant shall notify the Court by no later than April 25, 2018 whether or not his client consents to the transfer of venue. The Clerk is directed to close the entries at docket numbers 14 and 19. (Signed by Judge Jed S. Rakoff on 4/24/2018) (jwh)
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| Plaintiff: Suk Joon Ryu | |
| Represented By: | Michael Alan Freeman |
| Represented By: | Stephen G. Harvey |
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| Defendant: Hope Bancorp, Inc. | |
| Represented By: | Michael Munjun Yi |
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