Interest on EQC payments

Posted 25 Jan 2018 by GrantShandLawyers
Posted in Legal

Since the commencement of the Interest on Money Claims Act 2016 on 1 January 2018 EQC is now exposed to a liability to pay interest on late EQC payments from the date the money ought to have been paid until it was paid.  Previously the Court said it would only order EQC to pay interest as part of a substantive court judgment for the unpaid amount(s).  The new liability applies to court proceedings commenced after 1 January 2018.  It is an incentive to sue EQC now if you have not been paid as interest will be a substantial amount.  Here is a link to an interest calculator.

The post Interest on EQC payments appeared first on Grant Shand.

This article was sourced from another website - view the original article.

Discussion

Related Items

Insurance Assignment Appeal

Insurance Assignment Appeal

Wednesday, 31 January 2018 12:45 p.m. by GrantShandLawyers
Failed EQC repairs

Failed EQC repairs

Wednesday, 31 January 2018 10:11 a.m. by GrantShandLawyers
Interest on EQC payments

Interest on EQC payments

Thursday, 25 January 2018 10:01 a.m. by GrantShandLawyers