Prejudgment Interest in the Federal Courts—Does Federal or State Law Apply?

Litigants (and federal district courts) that address awards of prejudgment interest must determine whether state or federal law applies to calculate the amount of interest. For example, in a case brought in a federal district court in New York State, when the claims concern purely federal law, should interest be calculated based on a federal statute or on the 9% interest rate set forth in the New York State Civil Procedure Law and Rules Section 5004? The guidelines here, despite some outlier decisions, are straight-forward.  Click on the Following Link to Read Full Article.  Prejudgment Interest in the Federal Courts—Does Federal or State Law Apply?

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