BILL NUMBER: S6639

SPONSOR: HOYLMAN
 
TITLE OF BILL:  An act to amend the civil practice law and rules, in
relation to interest upon judgment

 
PURPOSE OF THE BILL:

To allow for calculation of interest from the original date of entry of
denial of summary judgment in cases where such denial is reversed on
appeal.

 
SUMMARY OF PROVISIONS:

Section one amends the CPLR to require calculation of interest in cases
where summary judgment was first denied, then granted on appeal, from
the date of entry of the order originally denying summary judgment.

Section two is the effective date.

 
              

JUSTIFICATION:

This legislation would amend the CPLR to require interest on judgments
to be measured from the date of entry of the order originally denying
summary judgment in cases where summary judgment is granted on appeal
after being denied. Calculating interest from such a date will result in
a more equitable outcome for those who bring an action that is ultimate-
ly decided in their favor, often after waiting years for resolution of
the matter.

If a plaintiff is granted summary judgment on appeal, it is a matter of
fairness to allow such plaintiff to receive interest on a judgment from
the date of the original denial of summary judgment, because plaintiff
should have been granted summary judgment from such date to being with.
Furthermore, this proposal would help to increase efficiency in the
judicial system and foster resolution of cases pending appeal where one
side anticipates the realistic outcome of the case and appeals to extend
the litigation and delay payment of a judgment.

 
PRIOR LEGISLATIVE HISTORY:

New bill.

 
FISCAL IMPLICATIONS FOR STATE:

None.

 
EFFECTIVE DATE:
This act shall take effect immediately.