What is the current prejudgment interest rate?
British Columbia, Canada
The following excerpt is from Larocque v. Lutz, 1981 CanLII 513 (BC CA):
In Blackstock v. Patterson, supra, McEachern C.J.S.C. adopted a formula based on the then current and still current prejudgment interest rate of 17¼ per cent, from which he deducted the conventional interest rate of 5 per cent which the plaintiff would receive, in addition, under the Interest Act of Canada, and he awarded an adjustment formula of 12¼ per cent per annum, calculated like simple interest.
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
Does a post-judgment interest rate need to be greater than the pre-judgement interest rate? (British Columbia, Canada)
Does the rate of prejudgment interest on damages in a tort action have to be fixed to take into account inflation to the date of the award? (British Columbia, Canada)
What is the current exchange rate for Canadian funds? (British Columbia, Canada)
What is the current state of the law on interest in a personal injury action? (British Columbia, Canada)
What is the scope of federal legislation in the field of prejudgment interest? (British Columbia, Canada)
Is a beneficial interest held by shareholders in Del Cano Real Estate Trust a "beneficial interest" in the real estate REIT? (British Columbia, Canada)
In what circumstances will a mortgage lender be able to charge an interest rate of 16.5% until one week before the maturity date and 24% thereafter? (British Columbia, Canada)
Is there any case law on compensation for loss of earning capacity when there is speculation that there is a real and substantial possibility that there may be an increase in interest rates? (British Columbia, Canada)
How is prejudgment interest calculated in a claim for past loss earnings? (British Columbia, Canada)
Can a person whose equitable interest in a property is being challenged give value for their legal interest in the property? (British Columbia, Canada)
