The Massachusetts Supreme Judicial Court has ruled that the full payment of a $20 million judgment in a commercial property lease dispute halts the accrual of post-judgment interest during an appeal. The court’s decision sided with defendant landlord South Washington Street, which argued that once the judgment amount has been paid in full, any further interest should not accrue while an appeal is ongoing, contrary to the stance taken by the plaintiff, a car dealership, H1 Lincoln, operating as Majestic Honda.
The dealership contended that the funds remained under the risks and uncertainties associated with the appeal, thus justifying the continuation of interest accrual. However, the court clarified that exercising appellate rights does not condition the continuation of post-judgment interest. As such, the judgment was deemed fully satisfied upon being paid, terminating further interest accrual.
For further details, refer to the statement and ruling in the Massachusetts Supreme Judicial Court’s latest decision.