News 01.21.21

Prejudgment Interest Starting as Early as the Time of Injury? At a Rate of 9% Interest? A Bill Sits on Illinois’ Governor’s Desk.

The bill, which passed the Illinois House and Senate and now sits on the Governor’s desk waiting to be signed into law, would amend Illinois’ current law that allows for interest to be accrued on verdicts only after a judgment is entered. Significantly, the proposed amendment would be retroactive stating that prejudgment interest begins to accrue on the later of the effective date of the law or the date the alleged tortfeasor has notice of the injury.