A Delaware judge on Wednesday rejected what he called a “peculiar” motion by an industrial pump manufacturer seeking prejudgment interest against excess insurers in a dispute over millions of dollars in asbestos-injury coverage, observing that no court had ever granted such a request without first finding damages.
Delaware Superior Court Judge Paul R. Wallace said that courts have repeatedly required damages for breach of contract in order to award prejudgment interest. But Warren Pumps, whose request was framed as a “motion to set judgment amounts and prejudgment interest,” sought only declaratory relief in the eight-year-old case, and thus was not owed interest for delays in payment, Wallace said.
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