Wise Electric Cooperative, Inc. v. American Hat Company ( 2015 )

COURT OF APPEALS
SECOND DISTRICT OF TEXAS
FORT WORTH
NO. 02-13-00439-CV
Wise Electric Cooperative, Inc. § From the 97th District Court
§ of Montague County (2007-
v. 0000383M-CV)
§
September 17, 2015
§
American Hat Company Opinion by Justice Walker
JUDGMENT
This court has considered the record on appeal in this case and holds that
there was error in part of the trial court’s judgment. It is ordered that the trial
court’s judgment is affirmed in part and reversed, severed, and remanded in part.
We reverse the trial court’s award of $2,578,067.00 to Wise Electric
Cooperative, Inc. on its counterclaim for offset. We order that counterclaim
severed from the judgment and we remand Wise Electric Cooperative, Inc.’s
counterclaim to the trial court for further proceedings consistent with this opinion.
On remand, the trial court shall assign a new cause number to Wise Electric
Cooperative, Inc.’s counterclaim for offset.
We affirm the portions of the trial court’s judgment that American Hat
Company have judgment against Wise Electric Cooperative, Inc. for
$18,437,160.06 in compensatory damages ($13,385,969.37 in personal property
damages plus $5,100,379.00 in past lost-profits damages less a $49,188.31
credit to Wise Electric), pre-judgment interest on that amount, post-judgment
interest on that amount computed at the rate of 5% per year, and trial court costs.
It is further ordered that American Hat Company shall have and recover of
and from Wise Electric Cooperative, Inc. and its surety National Union Fire
Insurance Company of Pittsburgh, PA from the supersedeas bond, the amount of
this judgment plus applicable prejudgment and post-judgment interest and court
costs and from Wise Electric Cooperative, Inc. the remainder after computation
of interest for which let execution issue.
Each party shall bear their own costs of appeal.
SECOND DISTRICT COURT OF APPEALS
By _/s/ Sue Walker ________________
Justice Sue Walker