What is the appropriate interest rate for a lump sum of cash in a personal injury bankruptcy?
federal, United States of America
The following excerpt is from In re Falk Farms, Inc., 88 BR 254 (B.A.P. 9th Cir. 1988):
The bankruptcy court decided the interest rate to be 9% by using O.R.S. 82.010(2)(a). Section 82.010(2)(a) states that the rate of interest on all moneys after they become due is 9% if the parties have not otherwise agreed to a rate of interest. See Kleiner v. Randall, 74 Or.App. 27, 701 P.2d 458 (1985). The parties had not agreed to any specific rate of interest in this case.
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