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Published by the Indiana Office of Court Services

Pac-Van, Inc. v. Wekiva Falls Resort, No. 49A02-1204-CT-337, ___ N.E.2d ___ (Ind. Ct. App., Sept. 11, 2012).

September 17, 2012 Filed Under: Civil Tagged With: Appeals, R. Shepard

Shepard, S.J.
When the losing party pays a judgment in full, does post-judgment interest keep running on the whole amount until the trial court calculates the amount due for the period between the judgment and the payment?  The trial court here said yes. The statute and the cases are otherwise.
….
ISSUE
Pac-Van raises one issue, which is:  whether the trial court erred in the calculation of post-judgment interest on the jury verdict and the attorney’s fees award.
….
Thus, the post-judgment interest due on the jury verdict of $102,285 is calculated by multiplying that figure by .08 (the interest rate), dividing the result ($8182.80) by 365 to determine the amount of interest  that accrues each day, and multiplying that result ($22.42) by forty-eight days to reach the total amount:  $1076.09.  [Footnote omitted.] The trial court’s award imposed interest running for some eight months after “satisfaction” of the jury verdict, to use the word in the Code, had already occurred.  This was error.
….
KIRSCH, J., and CRONE, J., concur.
 

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