Wyatt attorneys Virginia Snell and Sara Veeneman authored an article for the June 2011 edition of the Louisville Bar Association’s Bar Briefs on post-judgment interest rates.
The article examines the current status of interest rates for judgments awarding unliquidated damages. Currently at 12 percent, the interest rate essentially penalizes clients who want to appeal their cases. Appellate litigation can take several months, and a $1 million verdict can grow to $1,120,000 in just one year.
The article also explores alternatives to the seemingly-high 12 percent interest rate. Some civic practitioners may not realize that a losing party can move the trial court to amend the judgment and prove that lower interest makes sense (KRS 360.040). Logically, the most rationale rate is one tied to an index fluctuating with up and down economic conditions.
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