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In 2021, Governor Pritzker signed into law SB 0072, which represented an amendment to the Illinois Prejudgment Interest Statute, 735 ILCS 5/2-1303. The relevant part of the Amendment...
Passage of Illinois’s prejudgment statute, which imposes prejudgment interest in all actions brought to recover damages for personal injury or wrongful death, includes provisions for capping prejudgment interest in some settlements.
The Halo v. Bel Fuse litigation has been in the federal courts for over a decade, with multiple significant decisions that continue to reshape patent litigation practice, the most well-known restructured the legal framework for willful patent infringement and recovery
Highlights Illinois Senate Bill 72 (Prejudgment Interest Act) has been signed into law by Gov. JB Pritzker, providing for prejudgment interest on all damages rendered in personal injury and wrongful death claims at the rate of 6 percent per year. Previously, Illinois law did not recognize the award of prejudgment interest in tort actions for personal injury or wrongful death. Instead, Illinois' judgment interest statute merely imposed post-judgment interest in tort actions that accrued at the rate of 9 percent per year after a court issued a judgment award. This Holland & Knight alert summari...
To print this article, all you need is to be registered or login on Mondaq.com. Illinois Gov. JB Pritzker has vetoed Illinois House Bill 3360, which sought to amend the state's judgment interest statute to add prejudgment interest on all damages rendered in personal injury and wrongful death claims at the rate of 9 percent per year. (See Holland & Knight's previous alert, "Illinois Legislature Passes Bill to Impose Prejudgment Interest on Personal Injury Claims," Jan. 28, 2021.) In vetoing the measure on March 25, 2021, the governor expressed concern about the statute'...