Key Takeaway
New York court clarifies post-judgment interest calculation at 9% per year in no-fault insurance cases, distinguishing between statutory rates and payment procedures.
Craniofacial Pain Mgt. v Allstate Ins. Co., 2018 NY Slip Op 51825(U)(App. Term 2d Dept. 2018)
“The amount of a partial satisfaction, if any, should be calculated by determining the total payments received as of a certain date, and deducting from that sum the marshal’s fee, the interest accrued to that date, and the poundage fee due to the marshal upon the collection of such sum (see Ifudu v Ross, 60 Misc 3d 140, 2018 NY Slip Op 51199 ). In this regard, we note that plaintiff is entitled to receive only simple interest at the statutory rate of nine percent per year from the date of the entry of the judgment through the date of the payment of the judgment (see CPLR 5004; B.Z. Chiropractic, P.C. v Allstate Ins. Co., 56 Misc 3d 139, 2017 NY Slip Op 51091), and that the marshal’s notice of levy and sale served upon defendant inexplicably stated interest in the amount of $376,324.80. We further note that defendant demonstrated, by showing the submission to a New York City marshal of a check which the marshal endorsed, that defendant had paid the amount of $9,988.32 (see CPLR 5021 ).”
But See McMillan v. Unionamerica Resinsurance Co., 70 AD2d 659 (2d Dept. 1979)(“Furthermore, the judgment properly provided that interest on the award continue to accrue at the rate of 2% per month “pursuant to statute,” rather than at the legal rate of 6% per annum specified in CPLR 5004. CPLR 5004 expressly provides for the application of interest rates other than the legal rate of 6% per annum “where otherwise provided by statute”. In the instant case, the interest rate of 2% per month applied by Special Term is prescribed by subdivision 1 of section 675 of the Insurance Law”)
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Legal Update (February 2026): The statutory post-judgment interest rate referenced in this 2018 decision may have been subject to periodic adjustments since publication, as New York’s interest rates are periodically updated by legislative or regulatory action. Additionally, court rules governing marshal fees, poundage calculations, and judgment satisfaction procedures under CPLR 5004 and 5021 may have been amended. Practitioners should verify current interest rates and procedural requirements when calculating judgment satisfaction amounts.
