In almost any lawsuit, after the initial pleadings are filed, and before the trial, the parties engage in an extended period known as “discovery,” where each side demands and receives information about the other side and its case. In business cases parties typically ask for all of the contracts, communications and financial information that pertain to the issues in dispute. Businesses are generally quite reluctant to share internal business information with any third party, especially a litigation opponent. However, the law favors broad pretrial disclosure of information that has any potential relevance, and thus the volume of information exchanged in the discovery process could be great. read more
This article, like most others covering a topic as dull as pre-judgment interest, doesn’t make for the most exciting reading. That excitement usually occurs after a business trial, during the conversation between a client and his lawyer who failed to properly consider how to handle a potential award of pre-judgment interest – the interest that accrues on an alleged obligation from a time prior to trial to the date of entry of judgment.
In a business case, it is not unusual for the disputed events to occur at least a year, if not several years, before trial. Pre-judgment interest may therefore constitute a significant portion of the award sought at trial. read more