Monday, June 24, 2013

Successful NPE Plaintiff Entitled to Pre-Judgment Interest

The court granted plaintiff's motion for pre-judgment interest at the average prime rate, compounded annually and rejected defendant's argument that pre-judgment interest should not be awarded because plaintiff was a non-practicing entity. "[Defendant] does not cite to any case law to support its position, but rather argues that 'any damage [plaintiff] has sustained has been addressed through the jury award, and adding prejudgment interest to such an award would give [plaintiff], a non-practicing entity, a windfall.' After reviewing the parties’ written submissions, the Court finds no justification or basis to support [defendant's] argument that [plaintiff] should be precluded from an award of prejudgment interest because it is a non-practicing entity."

DDR Holdings, LLC v., et. al., 2-06-cv-00042 (TXED June 20, 2013, Order) (Gilstrap, J.).

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