Judgment Interest Is Capped at 10 Percent — No More, No Less
The application of two statutes providing for interest over the post-judgment period cannot be applied such that the interest rate would exceed 10 percent.
August 11, 2017 at 01:47 PM
15 minute read
In a personal injury action, after the fact finder renders a verdict or the court enters judgment, a plaintiff is entitled to interest on the amount rendered until it is paid. [See Conn. Gen. Stat. §37-3b (2017)].
Effective May 27, 1997, the legislature amended Connecticut General Statute Section 37-3b to read:
“[I]nterest at the rate of ten per cent a year, and no more, shall be recovered and allowed in any action to recover damages for injury to the person, or to real property, caused by negligence, computed from the date that is twenty days after the date of judgment or the date that is ninety days after the date of verdict, whichever is earlier, upon the amount of the judgment.”
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