 |
 |
to fill out a simple form to connect to Personal Injury Lawyers in your area.
|
|
|
|
|
Collins v. Hertenstein11/15/2005
erest by the defendants on the $700,000 punitive damages settlement from the day the court signed an order approving the settlement until it was actually paid into the court's registry. Mr. Wilson argues not only that $4,142.40 in interest is owing (representing 9% interest on $700,000 from November 21 to December 15, 2003), but that interest on the unpaid interest has been accruing while that matter has been on appeal and continues to accrue. His argument as to interest on the interest was not raised in his point relied on, however, so we will not consider it further. Mo. R. Civ. P. 84.13(a). Defendants in the underlying litigation contend that the order approving the settlement, because it did not constitute a final judgment, is not subject to the post judgment interest rule. They further argue that interest is not due because the court did not set a date certain for payment of the settlement proceeds into the court's registry.
There do not appear to be any cases on point, but the statute itself applies to "all money due upon any judgment or order of any court." Section 408.040.1 (emphasis added). While the proceeds could not be paid to the parties until after the apportionment hearing, there was a court order requiring that the money be paid into the court's registry. Under the plain meaning of the statute, interest is owed by the defendants from the date the court signed the order approving the settlement and requiring payment of the funds until the check was actually deposited. Mr. Wilson's third point is granted. On remand, the interest will have to be added to the total available for apportionment.
Conclusion
The circuit court incorrectly applied section 537.095 in two respects: failing to make a final overall apportionment in the manner prescribed by the Parr courtand requiring Mr. Wilson to pay expenses; thus, it abused its discretion in denying Mr. Wilson's motion for new trial. City of Pleasant Valley, 991 S.W.2d at 727. The court did not, however, abuse its discretion in making an approximate overall 90/10 apportionment that reflected the testimony and evidence from three hearings as to Ms. Collins's greater loss. Wright, 908 S.W.2d at 868-89. No new evidence is needed, and remand is limited for the court to enter orders consistent with this opinion. In summary, on remand, the circuit court must follow the requirements of section 537.095.4 as interpreted and applied by the supreme court in Parr and further (i) should adjust the amounts apportioned to Ms. Collins and Mr. Wilson, if it was the court's intent to make an actual 90/10 split of the total recovery; (ii) determine, on the basis of testimony already adduced whether the amount Mr. Wilson paid to his lawyer was sufficient under quantum meruit; (iii) require Ms. Collins to deduct the $840.61 that Mr. Wilson paid in expenses from the total recovery without thereby reducing Mr. Wilson's award; and (iv) order the payment of interest on the $700,000 punitive damages settlement.
Affirmed in part, reversed in part and remanded.
Page 1 2 3 4 5 6 7 8 9 Missouri Personal Injury Attorneys
Personal Injury Lawyers
|
| |
to fill out a simple form to connect to Personal Injury Lawyers in your area.
|
|