When the Judge finds in your favour, what date is used to decide the amount of interest?

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15 Sep 2009 00:00 by kelju Star rating in South Yorkshire . 302 posts Send private message

kelju´s avatar

Hi,

When the Bank Guarantee is taken to litigation and the Judge rules that the original money plus interest plus costs is to be paid, when is the interest payable to??

Is it up to the date of completion that is stated on the Bank Guarantee?

or

Is it up to the date of the Judge ruling that interest should be paid?

or

Is it up to the date that the bank/insurance company actually make the payment of the origianl money?

Kelju





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18 Sep 2009 12:35 by nicholb Star rating. 7 posts Send private message

Good question kelju.

 

Just bumping this for Maria and co as I am also interested in the answer to this.





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18 Sep 2009 14:18 by joanmalaga Star rating in Costa del Sol. 422 posts Send private message

As far as i was aware it is until the date of the final judgement issued by the courts but i am sure Maria will clarify it.





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18 Sep 2009 14:49 by mariadecastro Star rating in Algeciras (Cadiz). 8857 posts Send private message

Legal Questions? Speak to Maria Direct

Some answers below in bold green ( same text as your email):

 

Hi,

When the Bank Guarantee is taken to litigation and the Judge rules that the original money plus interest plus costs is to be paid, when is the interest payable to??

Interests are from completion deadline stated in the contract to date of  payment of money into Court.

Is it up to the date of completion that is stated on the Bank Guarantee?

or

Is it up to the date of the Judge ruling that interest should be paid?

or

Is it up to the date that the bank/insurance company actually make the payment of the origianl money?

Kelju



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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18 Sep 2009 21:54 by kelju Star rating in South Yorkshire . 302 posts Send private message

kelju´s avatar

Thanks nicholb for bumping it up and thanks to Maria for a clear answer.

Kel





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20 Oct 2009 20:05 by sami b Star rating. 1 posts Send private message

We have also won our case in Madrid and in the court documents it looks like they have awarded us interest from the date we signed the contract and not the completion deadline. It also refer's to an interest rate of 6% per annum, is this correct as I have heard from someone else that this has been reduced to 4% pa.





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