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Cowart v. Northstar Bullion Exchange, LLC

United States District Court, D. Minnesota

May 22, 2015

Wanda Cowart, Plaintiff,
v.
Northstar Bullion Exchange, LLC, Defendant.

ORDER

ANN D. MONTGOMERY, District Judge.

This matter came before the undersigned United States District Judge pursuant to Plaintiff Wanda Cowart's ("Cowart") Motion for Entry of Default Judgment (ECF Document No. 15) against Defendant Northstar Bullion Exchange, LLC pursuant to Rule 55 of the Federal Rules of Civil Procedure.

All appearances were noted on the record.

Now, based on the presentation of counsel, the Memorandum of Law, Affidavits and Exhibits submitted in support of the Motion and all the files, records, and proceedings herein, the Court, being fully advised in the premises, makes the following Findings of Fact, Conclusions of Law and Order:

FINDINGS OF FACT AND CONCLUSIONS OF LAW

1. Defendant Northstar Bullion Exchange, LLC ("Northstar") is a Minnesota limited liability company doing business in Minnesota, with a principal office address of 200 Highway 13, Suite 100, Burnsville, Minnesota 55337 and a registered office where it may be served with process located at the same.

2. Plaintiff Wanda Cowart, born January 6, 1943, is a resident of Florida with her primary residence located at 1575 Cypress Lake Road, Lake Wales, Florida 33898.

3. On approximately September 15, 2012, Cowart withdrew 3, 958.9 ounces of.999 pure silver bullion ("Silver Bullion") from her Goldstar Trust Company ("Goldstar") Individual Retirement Account. At the time of the withdrawal, Goldstar issued a receipt for $133, 217.00.

4. Almost immediately after Cowart withdrew her Silver Bullion from Goldstar, she was contacted by Ira Sims, an employee of Northstar.

5. Mr. Sims proposed that Cowart make a purportedly like-value exchange ("Proposed Exchange") of her Silver Bullion for 3, 684 Morgan and Peace coins (the "Coins"). Mr. Sims warranted to Cowart that the Coins were.90 silver, rare, held a numismatic value, and were in good condition.

6. Cowart believed she had reached an agreement with Northstar to have them "review" her coins at its office. Cowart sent her Silver Bullion to Northstar for review.

7. Without Cowart's permission, Northstar kept her Silver Bullion and shipped her the Coins.

8. On approximately September 15, 2012, Cowart received Northstar's Coins. The Coins came in eight buckets, one of which was damaged.

9. Cowart's son, Steven Strickland, reviewed the Coins in the damaged bucket and determined ...


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