These give the courts wide discretion about the rate of interest to be awarded, but specify that interest must be simple rather than compound. 339/07. Once a County Court judgment (CCJ) is transferred to the High Court for enforcement, under the County Courts Act 1984, it is treated as a High Court judgment for all purposes, so interest at the same rate of 8% applies. (5) If section 44A of the Administration of Justice Act 1970 (interest on judgment debts expressed otherwise than in sterling), or any corresponding provision made under section 74 of the County Courts Act 1984 in relation to the county The interest is calculated as simple interest using the conventional approach used by litigation lawyers in England and Wales. (b) ‘CCA s.51’ means section 51 of the County Courts Act 1984 2; and (c) ‘award of provisional damages’ means an award of damages for personal injuries under which – (i) damages are assessed on the assumption referred to in SCA s.32A or CCA s.51 that the injured person will not develop the disease or suffer the deterioration; and This Q&A explains the process for calculating the court issue fee where the claimant cannot calculate the amount of interest that is being claimed because interest will be determined by the court in its discretion under section 69 of the County Courts Act 1984 or section 35A of the Senior Courts Act 1981. The County Courts Act and Senior Courts Act allow claims for interest at 8% per annum when issuing proceedings. 1.2 At present, the courts general powers to award interest are set out in section 35A of the Supreme Court Act 1981, and its county court equivalent, section 69 of the County Courts Act 1984.
Interest under section 69 of the County Courts act 1984 at the rate of 8% a year from start date to end date (of your claim) of amount and also interest at the same rate up to the date of judgment or earlier payment at a daily rate of amount Not sure if that help but any questions, just shout! The statutory judgment interest rate for High Court judgments is 8%. The statutory judgment interest rate for High Court judgments is 8%. The claimant claims interest under section 69 of the County Courts Act 1984 at the rate of 8% a year, from [date when the money became due] to [date of issue of claim] of £[interest so far] and also interest at the same rate up to the date of judgment or earlier payment at a daily rate of [daily rate].
County courts County courts, on the other hand, have purely statutory powers derived from the County Courts Act 1984. [26th June 1984] If you were owed £1,000: the annual interest would be £80 (1000 x 0.08 = 80) you’d divide £80 by 365 to get the daily interest: about 22p a day (80 / 365 = 0.22) 1984 CHAPTER 28 An Act to consolidate certain enactments relating to county courts. As statutory interest under section 69 of the County Courts Act 1984 or section 35A of the Senior Courts Act 1981 (formerly Supreme Court Act 1981) on a judgment sum for the recovery of a debt or damages. Once a County Court judgment (CCJ) is transferred to the High Court for enforcement, under the County Courts Act 1984, it is treated as a High Court judgment for all purposes, so interest at the same rate of 8% applies. Courts of Justice Act, s.127 Postjudgement and Prejudgement Interest Rates Please note that effective October 1, 2007, postjudgment and prejudgment interest rates will be published on the Ministry’s website pursuant to O. Reg. The claimant claims interest pursuant to Section 69 of the County Courts Act 1984 at the rate of 8% from 10/2/2015 to 10/2/2016 in the sum of £80.00 and continuing at the same rate up to the date of judgment or earlier payment at the daily rate of £0.08 Example If you were owed £1,000: the annual interest would be £80 (1000 x 0.08 = 80) See the box in the previous section for an example. (b) where interest is claimed under section 35A of the Supreme Court Act 1981 2 or section 69 of the County Courts Act 1984 3, the rate is no higher than the rate of interest payable on judgment debts at the date when the claim form was issued; and Use the following wording to claim interest: ‘The claimant claims interest under Section 69 of the County Courts Act 1984 at the rate of 8 per cent a year.’ You must sign the form. There is no right to this type of interest unless, and until, a claim is issued.
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