2007-05-09_REVISION - C1981013 - Laserfiche WebLink

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• costs. expert witness tires and interest on those items still remaining to be quantified as of April 5, 2007 Basin Resources is wholly oiviied grid operated by Westmoreland Coal Company. Westmoreland is liable for Basin Resources per States and Federal; Coal Mining Regulations. 'Westrnoreland-Coa][7C6' inpany further assumed 'all assets and-- liabilities of Basin Resources, Inc. at the time Westmoreland Coal Company purchased Montana Power and all subsidiaries of Montana Power, including Basin Resources, Inc. in.2001.. 5. Westmoreland Coal Company defended Basin Resources, Inc. in the Las Animas County District Court trial, the Colorado Court of Appeals and the Colorado Supreme Court. The attorney's fees and costs awarded to the Plaintiffs reamin to be quantified.. These attorney's fees and costs continue to mount because Basin Resources, Inc./Westmoreland has paid no part of the judgment, attorneys fees, pre and post judgment interest, expert witness fees, costs provided for in the judgment. 6. On March 8, 2007_. Plaintiffs. filed a Notice to Set a Hearing pursuant to CRCP Rule 69. On March 13, 2007 a telephone conference was held. Counsel for Defendant, Basin. Resources, Inc. and Plaintiffs office took part in the telephone conference. The Court advised that the newly appointed District Judge wanted to • review the file before setting the Rule 69 Hearing to set the attorneys fees, witness fees and costs pursuant to the December 19, 2002 Judgment. The matter still pending before this Court is that of quantifying the award of attorneys fees, expert witness fees, and costs on behalf of the Plaintiffs and will continue to be incurred until such time as the Judgment award to Plaintiffs is paid in full by the Defendants, as well as whatever Court action is required to consummate the 'matter in full. 7. 'A hearing is to be held before the Mine Land Reclamation Board on May 16-17, 2007 concerning the proposed order issued by the State of Colorado Division of Reclamation, Mining and Safety to increase the bond of the Golden Eagle Mine, Permit No. C-1981-013 currently held in the name of Basin: Resources, Inc., pursuant to §2 CCR 407-2, Rule 3.02 and C.R.F. 817.121 (c) (5). The proposed order does not include the interest on the Judgment award of $622,000.00 of 8%, compounded annually from March 21, 2002 until the date paid. 8. Plaintiffs herein oppose the proposed increase of $622,000.00 as it does not include the pre and post judgment interest as provided in the Judgment of December 19, 2002. Colorado Revised Statutes 5-12-102 Statutory interest (4) (b) identifies the rate of eight percent per annum compounded annually. The subject of interest is governed by Colorado Revised Statutes. 9. Plaintiffs attach and incorporated herein the recent calculation of interest prepared by Gianni Amato, Vice President with International Bank, Trinidad, Colorado. • , 1