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NEW In-House Counsel | Insurance | Intellectual Property | Immigration | Natural Resources | Real Estate | Tax

CIVIL PROCEDURE - Interest - Calculation of - Pre-judgment interest

Tuesday, October 03, 2017 @ 8:41 AM  

Appeal by defendants from the award of damages. The respondent was catastrophically injured when the tow truck he was operating was rear-ended by the appellants’ vehicle. Following trial, the jury awarded the respondent damages totaling $2,931,006. The trial judge made the following rulings: prejudgment interest on the general damage award was to be calculated at 5 per cent (the rate that was in effect prior to January 1, 2015 when s. 258.3(8.1) of the Insurance Act was amended); the respondent was required to assign his future...