Opinion
No. CV96 0155519 S
June 3, 2004
Memorandum of Decision on Plaintiff's Motion to Modify Judgment to Include Offer of Judgment Interest and Attorneys Fees
On February 24, 2004 the jury returned a verdict in favor of the plaintiff and against the defendant, Continental Casualty Company in the amount of $31,000.00. After accepting the verdict the court awarded interest in the amount of $26,167.40 pursuant to General Statutes § 37-3a from the date of the first demand for payment, September 18, 1995 to the date of judgment. With interest the judgment totaled $57,167.40.
The file reflects that on May 27, 2003 the plaintiff filed an offer of judgment to the defendant, Continental Casualty Company in the amount of $50,000. The offer was not accepted.
Plaintiff now moves that the judgment be modified to include offer of judgment interest in the amount of $5,130.97 representing interest at the rate of 12% per annum from the date of filing of the offer of judgment to the date of judgment and attorneys fees in the amount of $350 as provided in General Statutes § 52-192a(b). In effect the plaintiff is requesting the court to approve a final judgment awarding interest under General Statutes § 37-3a at the rate of 10% per annum for the period September 18, 1995 to May 27, 2003 and interest at the combined rate of 22% per annum for the period May 27, 2003 to the date of judgment.
The court agrees that Plaintiff is entitled to offer of judgment interest and attorneys fees in the amount of $350. However, the court disagrees with the plaintiff's computation of interest. General Statutes § 37-3a provides in relevant part:
Except as provided in sections 37-3b, 37-3c and 52-192a, interest at the rate of ten per cent a year, and no more, may be recovered and allowed in civil actions or arbitration proceedings under chapter 909, including actions to recover money loaned at a greater rate, as damages for the detention of money after it becomes payable.
In Gionfriddo v. Avis Rent A Car System, Inc., 192 Conn. 301, 472 A.2d 316 (1984), the court held that General Statutes § 37-3a and § 52-192a must be read in conjunction with each other. The court cannot agree with the plaintiff that it is entitled to both interest under § 37-3a as well as the interest provided under § 52-192a for the same period of time. The court concludes that the plaintiff is entitled to interest in the total amount of $28,979.74 consisting of $23,848.77 under § 37-3a for the period September 18, 1995 to May 27, 2003 at the rate of 10% per annum and $5,130.97 under § 52-192a for the period May 27, 2003 to the date of verdict at the rate of 12% per annum.
Judgment may enter in accordance with this opinion.
David R. Tobin, Judge