Mastering Prejudgment Interest - Cooper & Scully...Sec. 304.106. SETTLEMENT OFFER REQUIREMENTS TO...

Mastering Prejudgment Mastering Prejudgment

InterestInterest

R. Brent CooperR. Brent CooperDiana L. FaustDiana L. Faust

Cooper & Scully, P.C.Cooper & Scully, P.C.900 Jackson Street, Suite 100900 Jackson Street, Suite 100

Tel: (214) 712Tel: (214) 712--95009500Fax: (214) 712Fax: (214) 712--95409540

[email protected]@[email protected]@CooperScully.com

www.CooperScully.comwww.CooperScully.com

©© 20112011

This paper and/or presentation provides information on general lThis paper and/or presentation provides information on general legal issues. It is not intended to provide advice on any specifegal issues. It is not intended to provide advice on any specific legal matter or factual ic legal matter or factual

situation, and should not be construed as defining Cooper and Scsituation, and should not be construed as defining Cooper and Scully, ully, P.C.'sP.C.'s position in a particular situation. Each case must be evaluateposition in a particular situation. Each case must be evaluated on its own d on its own

facts. This information is not intended to create, and receipt facts. This information is not intended to create, and receipt of it does not constitute, an attorneyof it does not constitute, an attorney--client relationship. Readers should not act on this client relationship. Readers should not act on this

information without receiving professional legal counsel.information without receiving professional legal counsel.

Significance of Prejudgment Significance of Prejudgment

InterestInterest

8,123,2861995

8,796,2631996

12,220,3971997

14,481,6021998

19,654,5961999

32,102,1122000

5,337,4012001

12,495,6102002

6,935,9762003

6,511,0132004

2,885,2562005

3,673,1372006

4,012,0292007

8,181,6502008

1,229,2532009

0

5,000,000

10,000,000

15,000,000

20,000,000

25,000,000

30,000,000

35,000,000

2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995

Closed Claim Data

Prejudgment Interest in Judgments by Year

Cooper & Scully, P.C. 3

Sources of Prejudgment InterestSources of Prejudgment Interest

There are two legal sources for an award of There are two legal sources for an award of

prejudgment interest: (1) general principles of prejudgment interest: (1) general principles of

equity and (2) an enabling statute. equity and (2) an enabling statute. CavnarCavnar v. v. Quality Control Parking, Inc.Quality Control Parking, Inc., 696 S.W.2d 549, 552 , 696 S.W.2d 549, 552

(Tex. 1985); (Tex. 1985); Phillips Petroleum Co. v. Stahl Phillips Petroleum Co. v. Stahl Petroleum Co.Petroleum Co., 629 S.W.2d 480, 483, 629 S.W.2d 480, 483--85 (Tex. 85 (Tex.

1978).1978).

�� See Johnson & Higgins of Texas, Inc. v. Kenneco See Johnson & Higgins of Texas, Inc. v. Kenneco Energy, Inc.Energy, Inc., 962 S.W.2d 507, 528 (1998)., 962 S.W.2d 507, 528 (1998).



�� StatutesStatutes--

�� 304.102 Finance Code304.102 Finance Code

�� 2260.106 Government Code2260.106 Government Code



�� EquityEquity--

�� If prejudgment interest is not authorized by If prejudgment interest is not authorized by

statute, the court can award prejudgment statute, the court can award prejudgment

interest under the general principles of equity. interest under the general principles of equity.

Perry Roofing v Perry Roofing v OlcottOlcott, 744 SW2d 929 (Tex. , 744 SW2d 929 (Tex.

1988)1988)


History of Prejudgment InterestHistory of Prejudgment Interest

1978: Equity as Basis (Economic Damages)1978: Equity as Basis (Economic Damages)

�� Phillips Petroleum Co. v. Stahl Petroleum Co.,Phillips Petroleum Co. v. Stahl Petroleum Co., 569 569

S.W.2d 480 (1978)S.W.2d 480 (1978)

�� 1985: Recoverable in Personal Injury Cases 1985: Recoverable in Personal Injury Cases

(Rate Tied to Statute)(Rate Tied to Statute)

�� CavnarCavnar v. Quality Control Parkingv. Quality Control Parking, 696 S.W.2d 549 , 696 S.W.2d 549

(Tex. 1985)(Tex. 1985)

�� Tied to Statutory Rate & CompoundedTied to Statutory Rate & Compounded

�� Accrual 180 days following injury or deathAccrual 180 days following injury or death



�� 1987: Tort Reform Codified and Modified 1987: Tort Reform Codified and Modified

CavnarCavnar Rule Providing for Prejudgment Rule Providing for Prejudgment

Interest in Wrongful Death, Personal Interest in Wrongful Death, Personal

Injury, and Property Damage CasesInjury, and Property Damage Cases

�� Tex. Rev. Civ. Stat. Ann. art. 5069Tex. Rev. Civ. Stat. Ann. art. 5069--1.05, 1.05, §§ 66

�� 1997: 1997: RecodifiedRecodified Into Finance Code Into Finance Code –– No No

Modification of Existing Statutory LawModification of Existing Statutory Law



�� 1998: Common Law Based on Art. 50691998: Common Law Based on Art. 5069--1.051.05�� Johnson & Higgins of Texas, Inc. v. Kenneco Johnson & Higgins of Texas, Inc. v. Kenneco

Energy, Inc.Energy, Inc., 962 S.W.2d 576 (Tex. 1998), 962 S.W.2d 576 (Tex. 1998)

�� 2003: House Bill 42003: House Bill 4�� Accrual on Past Damages OnlyAccrual on Past Damages Only

�� Rate adjusted down: 5% to 15%Rate adjusted down: 5% to 15%

�� Simple InterestSimple Interest


Rates of Prejudgment Interest Rates of Prejudgment Interest ––

State Courts:State Courts:

�� §§ 304.103. PREJUDGMENT INTEREST 304.103. PREJUDGMENT INTEREST RATE FOR WRONGFUL DEATH, RATE FOR WRONGFUL DEATH, PERSONAL INJURY, OR PROPERTY PERSONAL INJURY, OR PROPERTY DAMAGE CASE. The prejudgment DAMAGE CASE. The prejudgment interest rate is equal to the interest rate is equal to the postjudgment interest rate applicable at postjudgment interest rate applicable at the time of judgment.the time of judgment.

�� Amended by Acts 1999, 76th Leg., ch. Amended by Acts 1999, 76th Leg., ch. 62, 62, §§ 7.18(a), eff. Sept. 1, 1999. 7.18(a), eff. Sept. 1, 1999.



State Courts:State Courts:�� §§ 304.003. JUDGMENT INTEREST RATE: 304.003. JUDGMENT INTEREST RATE:

INTEREST RATE OR TIME PRICE INTEREST RATE OR TIME PRICE DIFFERENTIAL NOT IN CONTRACT. (a) A DIFFERENTIAL NOT IN CONTRACT. (a) A money judgment of a court of this state to money judgment of a court of this state to which Section 304.002 does not apply, which Section 304.002 does not apply, including court costs awarded in the judgment including court costs awarded in the judgment and prejudgment interest, if any, earns and prejudgment interest, if any, earns postjudgment interest at the rate determined postjudgment interest at the rate determined under this section. (b) On the 15th day of each under this section. (b) On the 15th day of each month, the consumer credit commissioner shall month, the consumer credit commissioner shall determine the postjudgment interest rate to be determine the postjudgment interest rate to be applied to a money judgment rendered during applied to a money judgment rendered during the succeeding calendar month. the succeeding calendar month.


�� (c) The postjudgment interest rate is: (1) the (c) The postjudgment interest rate is: (1) the

prime rate as published by the Board of prime rate as published by the Board of

Governors of the Federal Reserve System on the Governors of the Federal Reserve System on the

date of computation; (2) five percent a year if date of computation; (2) five percent a year if

the prime rate as published by the Board of the prime rate as published by the Board of

Governors of the Federal Reserve System Governors of the Federal Reserve System

described by Subdivision (1) is less than five described by Subdivision (1) is less than five

percent; or (3) 15 percent a year if the prime percent; or (3) 15 percent a year if the prime

rate as published by the Board of Governors of rate as published by the Board of Governors of

the Federal Reserve System described by the Federal Reserve System described by

Subdivision (1) is more than 15 percent.Subdivision (1) is more than 15 percent.



State Courts:State Courts:

�� §§ 304.004. PUBLICATION OF JUDGMENT 304.004. PUBLICATION OF JUDGMENT

INTEREST RATE. The consumer credit INTEREST RATE. The consumer credit

commissioner shall send to the secretary commissioner shall send to the secretary

of state the postjudgment interest rate of state the postjudgment interest rate

for publication, and the secretary shall for publication, and the secretary shall

publish the rate in the Texas Register.publish the rate in the Texas Register.

�� Amended by Acts 1999, 76th Leg., ch. Amended by Acts 1999, 76th Leg., ch.

62, 62, §§ 7.18(a), eff. Sept. 1, 1999. 7.18(a), eff. Sept. 1, 1999.


Rate of Prejudgment InterestRate of Prejudgment Interest

http://http://www.occc.state.tx.us/pages/int_rateswww.occc.state.tx.us/pages/int_rates

/index.html/index.html



Federal CourtsFederal Courts

�� For state law claims, Texas law would For state law claims, Texas law would

control. control. Gilbane Bldg. Co. v. Empire Steel Erectors, L.P., Civ. No. H-08-1707, 2010 WL 4791493 (Tex. App.—S.D. Houston, Nov. 16, 2010).


Accrual of Prejudgment InterestAccrual of Prejudgment Interest

�� Texas Finance Code 304.104Texas Finance Code 304.104

�� Accrues on amount of judgment during period Accrues on amount of judgment during period

beginning on the earlier of the 180beginning on the earlier of the 180thth day after day after

the date D receives written notice of claim or the date D receives written notice of claim or

the date suit is filed, and ending on the day the date suit is filed, and ending on the day

preceding the date the judgment is rendered.preceding the date the judgment is rendered.

�� Computed as simple interestComputed as simple interest



�� ““ClaimClaim”” Under 304.104Under 304.104�� For purposes of calculating prejudgment interest, For purposes of calculating prejudgment interest,

““claimclaim”” is a demand for compensation or an assertion is a demand for compensation or an assertion of a right to be paid. of a right to be paid. MCN Energy Enters., Inc. v. MCN Energy Enters., Inc. v. OmagroOmagro de Colombia, L.D.C.de Colombia, L.D.C., 98 S.W.3d 766 (Tex. , 98 S.W.3d 766 (Tex. App.App.——Fort Worth 2003, pet. denied).Fort Worth 2003, pet. denied).

�� 180 days after UIM carrier receives written notice of 180 days after UIM carrier receives written notice of accident. accident. State Farm Mut. Auto Ins. Co. v. NorrisState Farm Mut. Auto Ins. Co. v. Norris, , 216 S.W.3d 819 (Tex. 2006).216 S.W.3d 819 (Tex. 2006).

�� But if tort liability disputed, from date tort liability But if tort liability disputed, from date tort liability established by judgment. established by judgment. Henson v. Southern Farm Henson v. Southern Farm Bureau, Bureau, 17 S.W.3d 652 (Tex. 2000).17 S.W.3d 652 (Tex. 2000).



�� Negligence suit: Date original petition filed Negligence suit: Date original petition filed

against company, not date of amended against company, not date of amended

petition naming individual doing business petition naming individual doing business

under name of company.under name of company.

�� Hughes v. ThrashHughes v. Thrash, 832 S.W.2d 770 (Houston , 832 S.W.2d 770 (Houston

[1[1stst Dist.] 1992, no writ).Dist.] 1992, no writ).

�� Brownsville Pediatric AssBrownsville Pediatric Ass’’n v. Reyesn v. Reyes, 68 , 68

S.W.3d 184 (Tex. App.S.W.3d 184 (Tex. App.——Corpus Christi 2002, Corpus Christi 2002,

no writ).no writ).



�� Prejudgment interest may not be assessed Prejudgment interest may not be assessed

or recovered on an award of future or recovered on an award of future

damages or punitive damages. damages or punitive damages.

�� Tex. Fin. Code 304.1045Tex. Fin. Code 304.1045

�� Tex. Civ. Prac & Rem. Code 41.007Tex. Civ. Prac & Rem. Code 41.007

�� Exceptions: Tolling Exceptions: Tolling

�� Tex. Fin. Code 304.105(a) & (b)Tex. Fin. Code 304.105(a) & (b)



�� Not Recoverable when prohibited by Not Recoverable when prohibited by

statute or case law. statute or case law. Concord Oil Co. v. Concord Oil Co. v. Pennzoil Pennzoil ExplExpl. & Prod. Co.. & Prod. Co., 966 S.W.2d , 966 S.W.2d

451, 462 (Tex. 1998).451, 462 (Tex. 1998).

�� Statutory (punitive damages, future damages, Statutory (punitive damages, future damages,

DTPA treble damages)DTPA treble damages)

�� Case Law (AttorneyCase Law (Attorney’’s fees, interpleaded s fees, interpleaded

funds, prejudgment interest, or under both funds, prejudgment interest, or under both

statutory and common law)statutory and common law)


Tolling ProvisionsTolling Provisions

�� Sec.Sec. 304.105.304.105. EFFECT OF SETTLEMENT OFFER ON EFFECT OF SETTLEMENT OFFER ON ACCRUAL OF PREJUDGMENT INTEREST. (a) If judgment ACCRUAL OF PREJUDGMENT INTEREST. (a) If judgment for a claimant is equal to or less than the amount of a for a claimant is equal to or less than the amount of a settlement offer of the defendant, prejudgment interest settlement offer of the defendant, prejudgment interest does not accrue on the amount of the judgment during does not accrue on the amount of the judgment during the period that the offer may be accepted.the period that the offer may be accepted.

�� (b)(b) If judgment for a claimant is more than the amount If judgment for a claimant is more than the amount of a settlement offer of the defendant, prejudgment of a settlement offer of the defendant, prejudgment interest does not accrue on the amount of the interest does not accrue on the amount of the settlement offer during the period that the offer may be settlement offer during the period that the offer may be accepted.accepted.

�� Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.eff. Sept. 1, 1999.



�� Sec.Sec. 304.106.304.106. SETTLEMENT OFFER SETTLEMENT OFFER

REQUIREMENTS TO PREVENT PREJUDGMENT REQUIREMENTS TO PREVENT PREJUDGMENT

INTEREST ACCRUAL. To prevent the accrual of INTEREST ACCRUAL. To prevent the accrual of

prejudgment interest under this subchapter, a prejudgment interest under this subchapter, a

settlement offer must be in writing and delivered settlement offer must be in writing and delivered

to the claimant or the claimant's attorney or to the claimant or the claimant's attorney or

representative.representative.

�� Amended by Acts 1999, 76th Leg., ch. 62, Sec. Amended by Acts 1999, 76th Leg., ch. 62, Sec.

7.18(a), eff. Sept. 1, 1999.7.18(a), eff. Sept. 1, 1999.



�� Sec.Sec. 304.107.304.107. VALUE OF SETTLEMENT OFFER VALUE OF SETTLEMENT OFFER

FOR COMPUTING PREJUDGMENT INTEREST. If FOR COMPUTING PREJUDGMENT INTEREST. If

a settlement offer does not provide for cash a settlement offer does not provide for cash

payment at the time of settlement, the amount payment at the time of settlement, the amount

of the settlement offer for the purpose of of the settlement offer for the purpose of

computing prejudgment interest is the cost or computing prejudgment interest is the cost or

fair market value of the settlement offer at the fair market value of the settlement offer at the

time it is made.time it is made.

�� Amended by Acts 1999, 76th Leg., ch. 62, Sec. Amended by Acts 1999, 76th Leg., ch. 62, Sec.

7.18(a), eff. Sept. 1, 1999.7.18(a), eff. Sept. 1, 1999.


PASSWORD:PASSWORD:

SCHOOLSCHOOL


Tolling of Prejudgment InterestTolling of Prejudgment Interest

1)1) Offer must be in writingOffer must be in writing

2)2) Offer must be delivered to claimant or Offer must be delivered to claimant or attorneyattorney

3)3) Offer should be outside mediationOffer should be outside mediation

4)4) Offer should be left open as long as Offer should be left open as long as possiblepossible

5)5) Rejection may terminate offer Rejection may terminate offer –– include include language that it remains open after it language that it remains open after it has been rejectedhas been rejected



�� JUDGMENT NOT MORE THAN OFFERJUDGMENT NOT MORE THAN OFFER--If If

the judgment for the claimant is less than the judgment for the claimant is less than

or equal to the amount offered as or equal to the amount offered as

settlement, prejudgment interest does not settlement, prejudgment interest does not

accrue at all during the period the offer accrue at all during the period the offer

could be accepted.could be accepted.



�� JUDGMENT MORE THAN OFFERJUDGMENT MORE THAN OFFER--If the If the

judgment for the claimant is greater than judgment for the claimant is greater than

the amount offered as settlement, the amount offered as settlement,

prejudgment interest accrues only on the prejudgment interest accrues only on the

portion of the judgment in excess of the portion of the judgment in excess of the

settlement offer during the period the settlement offer during the period the

offer could be accepted.offer could be accepted.



�� Tex. Fin. Code 304.108 allowed the courts Tex. Fin. Code 304.108 allowed the courts

to toll the accrual of prejudgment interest to toll the accrual of prejudgment interest

during periods of delay in trial caused by during periods of delay in trial caused by

either party. This section was repealed in either party. This section was repealed in

2003; Acts 2003, 782003; Acts 2003, 78thth Leg., R.S., ch 204, Leg., R.S., ch 204,

Sec 6.03, eff. Sept. 1, 2003.Sec 6.03, eff. Sept. 1, 2003.

�� This discretion is no longer provided to the This discretion is no longer provided to the

trial courts.trial courts.


Calculation of Prejudgment Interest Calculation of Prejudgment Interest

in Judgmentsin Judgments

�� Computed as Simple Interest, calculated Computed as Simple Interest, calculated

on principal amount:on principal amount:

�� Amount of damages found by TOF minus any Amount of damages found by TOF minus any

amounts on which prejudgment interest is amounts on which prejudgment interest is

prohibited by state or case law (exemplary prohibited by state or case law (exemplary

damages, future damages)damages, future damages)

�� Rate is the same as postRate is the same as post--judgment judgment

interest (Tex. Fin. Code 304.103)interest (Tex. Fin. Code 304.103)




�� Time of Accrual is Earlier of:Time of Accrual is Earlier of:�� (1) 180(1) 180thth day after Dday after D’’s receipt of written notice of s receipt of written notice of

claim orclaim or

�� (2) Date suit is filed(2) Date suit is filed

�� SettlementSettlement�� Credit for settlement must be deducted from the Credit for settlement must be deducted from the

judgment using the declining principal formula. judgment using the declining principal formula. Brainard v. Trinity Brainard v. Trinity UnivUniv’’ll Ins. Co.Ins. Co., 215 S.W.3d 809 , 215 S.W.3d 809 (Tex. 2006).(Tex. 2006).

�� Amount deducted according to when settlement Amount deducted according to when settlement made.made.




�� SettlementSettlement

�� Before PJI Accrues (Advance Payments)Before PJI Accrues (Advance Payments)

�� Reduce Past Damages by Settlement Amount and Reduce Past Damages by Settlement Amount and

then Add PJIthen Add PJI

�� After PJI Accrues After PJI Accrues

�� Apply first to reduce any PJI interest that has Apply first to reduce any PJI interest that has

accrued to date of settlement, and then to reduce accrued to date of settlement, and then to reduce

past damages, and then accrues on past damages past damages, and then accrues on past damages

remaining from date of settlement to day before remaining from date of settlement to day before

date of judgmentdate of judgment




�� TollingTolling�� Standstill Agreements: Could toll accrual of Standstill Agreements: Could toll accrual of

PJI while agreement in effect, unless PJI while agreement in effect, unless otherwise contractually provided. otherwise contractually provided. Johnson & Johnson & Higgins,Higgins, 962 S.W.2d at 531962 S.W.2d at 531

�� Settlement Offer: Can Toll while P decides Settlement Offer: Can Toll while P decides whether to accept Dwhether to accept D’’s offers offer�� Judg Judg ≤≤ offer: No accrual during period could offer: No accrual during period could

acceptaccept

�� Judg > offer: PJI only on portion in excess of Judg > offer: PJI only on portion in excess of settlement offer during period P could accept.settlement offer during period P could accept.


Effect of Reformation of JudgmentEffect of Reformation of Judgment

�� Court of Appeals Affirms and Orders Court of Appeals Affirms and Orders Reformation of the Judgment Reformation of the Judgment �� PJI Accrual ends on day before date of PJI Accrual ends on day before date of

original judgment.original judgment.�� See Cessna Aircraft Co. v. Aircraft Network, LLC,See Cessna Aircraft Co. v. Aircraft Network, LLC,

___ S.W.3d ___ (Tex. App.___ S.W.3d ___ (Tex. App.——Dallas May 27, 2011)Dallas May 27, 2011)

�� D.C. Hall Transport, Inc. v. HardD.C. Hall Transport, Inc. v. Hard, 355 S.W.2d 257 , 355 S.W.2d 257 (Tex. Civ. App.(Tex. Civ. App.——Fort Worth), writ refFort Worth), writ ref’’d n.r.e., 163 d n.r.e., 163 Tex. 504, 358 S.W.2d 117 (Tex. 1962)Tex. 504, 358 S.W.2d 117 (Tex. 1962)

�� Lewis v. HillLewis v. Hill, 429 S.W.2d 572 (Tex. Civ. App., 429 S.W.2d 572 (Tex. Civ. App.——Tyler 1968, no writ)Tyler 1968, no writ)


Impact of CapsImpact of Caps

�� Because PJI Accrues on Amount of Because PJI Accrues on Amount of

Judgment, Damages Must be Capped Judgment, Damages Must be Capped

Before PJI Can Be ComputedBefore PJI Can Be Computed

�� PJI Included within CPRC 74.301 and PJI Included within CPRC 74.301 and

74.303 Damages Limitations?74.303 Damages Limitations?


Coverage for Prejudgment Interest Coverage for Prejudgment Interest

-- CGLCGL�� Supplementary Payments Supplementary Payments –– Coverages A Coverages A

and Band B

1.1. We will pay with respect to any claim we investigate We will pay with respect to any claim we investigate

or settle, or any or settle, or any ““suitsuit”” against an insured we against an insured we

defend:defend:

* * ** * *

f.f. Prejudgment interest awarded against the insured on that Prejudgment interest awarded against the insured on that

part of the judgment we pay. If we make an offer to pay part of the judgment we pay. If we make an offer to pay

the applicable limit of insurance, we will not pay any the applicable limit of insurance, we will not pay any

prejudgment interest based on that period of time after the prejudgment interest based on that period of time after the

offer.offer.

Form CG 00 01 12 04Form CG 00 01 12 04



Personal Personal -- AutoAuto�� Supplementary Payments Supplementary Payments ––

�� In addition to our limit of liability, we will pay In addition to our limit of liability, we will pay on behalf of an on behalf of an ““InsuredInsured””::

�� * * ** * *3.3. Interest accruing after a judgment is entered in Interest accruing after a judgment is entered in

any suit we defend. Our duty to pay interest any suit we defend. Our duty to pay interest ends when we offer to pay that part of the ends when we offer to pay that part of the judgment which does not exceed our limit of judgment which does not exceed our limit of liability for this coverage.liability for this coverage.

Form PP 00 01 06 98Form PP 00 01 06 98



–– Business AutoBusiness Auto2.2. Coverage ExtensionsCoverage Extensions

�� a. Supplementary Payments a. Supplementary Payments ––We will pay for the We will pay for the ““insuredinsured””::

(6)(6) All interest on the full amount of any All interest on the full amount of any judgment that accrues after entry of the judgment that accrues after entry of the judgment in any judgment in any ““suitsuit”” against the against the ““insuredinsured””we defend, but our duty to pay interest ends we defend, but our duty to pay interest ends when we have paid, offered to pay or when we have paid, offered to pay or deposited in court the part of the judgment deposited in court the part of the judgment that is within our Limit of Insurance.that is within our Limit of Insurance.

Form CA 00 01 03 10Form CA 00 01 03 10



-- HomeownersHomeowners

�� Incidental Liability CoveragesIncidental Liability Coverages

* * ** * *

�� 2.2.Claims and Defense Cost Claims and Defense Cost –– ““We pay for:We pay for:

* * ** * *

e.e. prejudgment interest awarded against an prejudgment interest awarded against an

““insuredinsured”” on that part of the judgment on that part of the judgment ““wewe”” pay. pay.

If If ““wewe”” offer to pay the offer to pay the ““limitlimit”” that applies, that applies, ““wewe””

will not will not apyapy any prejudgment interest based on any prejudgment interest based on

that period of time after the offer.that period of time after the offer.

Form HO 0003 01 06Form HO 0003 01 06


THE ENDTHE END

Mastering Prejudgment Interest - Cooper & Scully...Sec. 304.106. SETTLEMENT OFFER REQUIREMENTS TO...

Documents

Transcript of Mastering Prejudgment Interest - Cooper & Scully...Sec. 304.106. SETTLEMENT OFFER REQUIREMENTS TO...