Judge: Deborah C. Servino, Case: 30-2019-01077615, Date: 2022-08-19 Tentative Ruling

ARBITRATION STATUS CONFERENCE

Arbitration having been completed in this matter, the stay pending arbitration is hereby lifted.

PETITION TO CONFIRM ARBITRATION AWARD

Plaintiff Min Ji’s unopposed petition to confirm the arbitration award entered against Defendants Yongzhi (USA) Assets Management Company and Xiaogang Wang, is granted.

A petition to confirm an arbitration award must be served and filed at least 10 days, and no later than 4 years, after service of the award on the petitioner. (Code Civ. Proc., §§ 1288, 1288.4.) If a petition to confirm is duly filed, and unless the arbitration award is corrected or vacated, “the court shall confirm the award as made.” (Code Civ. Proc., § 1286.)

The petition shall (1) set forth the substance of the arbitration agreement or attach a copy thereof, (2) set forth the name of the arbitrator(s), and (3) set forth or attach a copy of the award and the written opinion of the arbitrator(s), if any. (Code Civ. Proc., § 1285.4.) “If an award is confirmed, judgment shall be entered in conformity therewith.” (Code Civ. Proc., § 1287.4.)

The petition is timely.  The award is dated April 18, 2022.  The petition was filed and served more than 10 days but less than 4 years later, on May 12, 2022.

Plaintiff has mostly complied with Code of Civil Procedure section 1285.4, and has included a copy of the arbitration award, which states in pertinent part:

CONCLUSION AND FURTHER PROCEEDINGS

Attorney’s Fees and Costs

The Loan Agreement provides that “the prevailing party in such arbitration, as determined by the arbitrator, shall be entitled to recover its reasonable attorneys’ fees incurred in such arbitration as well as its costs and expenses.” (Ex. 1)  Claimant is the prevailing party.  The arbitrator has been advised that Claimant will not pursue payment of attorney’s fees and/or costs.

FINAL AWARD

1.    Claimant has proven Respondents breached a written contract [Loan Agreement] by a preponderance of the evidence and is the prevailing party.

2.    Claimant shall take $1,100,000.00 on its Claim, plus interest in the amount of $340,547.95.

(Jen Decl., at ¶ 5, Exh. A.)  There is a proof of service showing that the final award was served on all parties.  (Jen Decl., at Exh. A.) 

Pursuant to Civil Code section 3289, the Court awards the requested additional interest in the amount of $48,544.41.

To the extent Plaintiff seeks attorney fees and costs incurred in this action outside of arbitration, he must file a noticed motion.  (See Santisa v. Goodin (1998) 17 Cal.4th 599, 618; Code Civ. Proc., § 1033.5, subd. (c)(5).)  The Court will sign the proposed judgment with modifications (taking out the amounts for attorney fees and costs). 

Plaintiff shall give notice of the ruling.