Brainin v. Rudd

OPINION AND ORDER

LUONGO, District Judge.

This is the motion of defendant Melikian to vacate a default judgment in this diversity action on the ground that the matter in controversy does not involve the requisite jurisdictional amount.1 The suit is against two individual endorsers of a $10,000 note issued by Rudd-Melikian, Inc., payable ten months after date with interest at the rate of 8% per annum. Between the date of issuance of the note and the date of its maturity, and before any payment had been made thereon, the corporation filed bankruptcy proceedings, causing plaintiff to accelerate…