28 U.S.C.A. § 1961 provides in part that interest shall be allowed on any money judgment in a civil case recovered in a district court. Such interest would continue to accrue throughout an appeal that was later affirmed.
Title: Understanding Arkansas Motion for Interest on an Affirmed Judgment of a Federal District Court Description: In Arkansas, a Motion for Interest on an Affirmed Judgment of a Federal District Court plays a crucial role in ensuring fair compensation for prevailing parties after an appeal. This detailed description aims to provide an insightful overview of this legal motion. Keywords: Arkansas, Motion for Interest, Affirmed Judgment, Federal District Court, appeal, compensation 1. What is a Motion for Interest on an Affirmed Judgment? A Motion for Interest on an Affirmed Judgment is a legal filing made after a decision from a Federal District Court has been affirmed on appeal in Arkansas. This motion seeks to request the court to award interest on the judgment amount owed, ensuring that the prevailing party receives just compensation. 2. Purpose and Importance of the Motion: The primary purpose of filing a Motion for Interest is to compensate the prevailing party for the time value of money while the case was pending on appeal. This motion becomes significant as it addresses the delay in receiving payment for the judgment, protecting the prevailing party from loss due to inflation and time value. 3. Key Provisions and Requirements: — Affirmed Judgment: The motion is applicable only when the original judgment has been affirmed, meaning the decision of the Federal District Court stands. — Timely Filing: The motion must be filed promptly after the appeal decision, adhering to the specific timeline set by Arkansas law. Types of Arkansas Motion for Interest on an Affirmed Judgment: 1. Simple Interest Motion: Generally, this type of motion seeks to obtain simple interest on the affirmed judgment amount. Arkansas' law usually provides the statutory rate of interest for this purpose. 2. Complex Interest Motion: In some cases, the motion might involve a request for compound interest, which takes into account the accrued interest from the time of the original judgment until the appeal's conclusion. Complex interest calculations might require thorough documentation and supporting evidence. 3. Contingent Interest Motion: In unique circumstances, a party may seek to recover an additional percentage of interest referred to as a contingent interest. This type of motion is often filed when the prevailing party can prove extraordinary circumstances or significant delay beyond the ordinary appeal process. 4. Additional Considerations: — Calculation Method: The method for calculating interest might be determined either by Arkansas state law or by federal law, depending on the nature of the case and applicable jurisdiction. — Statutory Interest Rate: Parties should be aware of the statutory interest rate specified by Arkansas legislation, which may be applied to the affirmed judgment amount unless the court exercises its discretion to alter the rate. In conclusion, a Motion for Interest on an Affirmed Judgment of a Federal District Court in Arkansas is an essential legal tool for securing fair compensation after an appeal. This motion allows the prevailing party to request interest on the judgment amount owed, providing a reasonable financial remedy for the time value of money during the appeal process. Understanding the types and requirements of this motion is vital to navigate the post-appeal process successfully.
