by John Darer® CLU ChFC MSSC RSP CLTC
Low interest rates continue to amplify structured judgment values in excess of the damages awarded by juries in New York City and elsewhere in New York State.
At the time of posting, both the 10 year Treasury (2.41%) and the 30 Year Treasury rates (3.12%) are less than the 4% statutory growth rate built into CPLR 50A and CPLR 50B (Articles 50A and 50B). for structured judgments. When this happens there is a effective multiplier on the jury verdict as future damage are brought to present value. How the judgment value of a particular case will be affected will vary by size and duration of the elements of damages.
While one cannot imagine that lawmakers envisioned such a scenario would be possible when New York's structured judgment laws were passed almost 30 years ago, when benchmark bond yields were more than 3 times higher, it is is the case today.
Having a structured settlement expert who is well versed on CPLR 50A and CPLR 50B judgments can be very helpful to attorneys for both sides at mediation. Moreover, structured judgment experts can assist and provide a useful contribution as part of the financial analysis of potential case values leading up to settlement discussions or trial.
For more information about New York structured settlements or structured judgments please call me at 888-325-8640
"I used to be a banker, but then I lost interest" -Unknown
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