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October 21, 2011

New York CPLR 50B Damages: Impact Of United States CPI 3.87% for September 2011

by John Darer® CLU ChFC CSSC RSP

New York CPLR Article 50B has a statutory 4% escalator built into it that has troubled defendants who might have argued that it was an unfair representation of the current state of affairs. After all, the New York statute that mandates structured judgments, under Article 50B, was created in 1986 when interest rates were much higher and 4% then seemed like a bargain. It is now worthy to note that with the September 2011 CPI-U  being 3.87% (Source: Inflationdata.com) the strength of the argument appears to have gone the way of "the bath water".

New York's Periodic Payment of Judgment statutes

Article 50A of the Civil Practice Law Rules (CPLR) deals with periodic payment of damages on medical, dental and podiatry malpractice cases.

Article 50B of the New York CPLR deals with payment of damages on personal injury, injury to property and wrongful death actions.

 

 

Posted at 05:32 AM in Albany New York Structured Settlements, Bronx New York Structured Settlements, Brooklyn New York Structured Settlements, Buffalo New York Structured Settlements, Kings County Structured Settlements, Long Island NY Structured Settlements, New York City Structured Settlements, New York CPLR Article 50A or Article 50B Structured Judgment, New York Structured Settlement Practice, New York Structured Settlements, Newburgh Structured Settlements, NYC Structured Settlements, Rochester Structured Settlements, Settlements in Queens County New York, Staten Island Structured Settlements, Structured Judgments, Structured Settlements in Nassau County, NY, Suffolk County Structured Settlements, Syracuse Structured Settlements, Westchester Structured Settlements, White Plains Structured Settlements |

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