- 3 -
On September 20, 1989, a jury awarded petitioner $75,000 in
damages. The clerk of the court added statutory prejudgment
interest of $62,437.50 as required by R.I. Gen. Laws section 9-
21-10 (1997). This totals $137,437.50. The jury award of
$75,000 is 54.57 percent of $137,437.50. The statutory
prejudgment interest of $62,437.50 is 45.43 percent of
$137,437.50.
C. The Settlement
Following the judgment, Allied Fence moved for a remittitur
or amendment of the verdict on comparative negligence or, in the
alternative, for a new trial. Petitioner also filed a posttrial
motion for an additur. The trial court denied these motions and
ordered that the verdict in the full amount be "entered
forthwith." The judgment, entered on December 5, 1989, for
petitioner and against Allied Fence and its employee was for
$75,000 "with interest as provided by law."
On December 12, 1989, Allied Fence and its employee filed a
notice of appeal with the Rhode Island Supreme Court.
Following the judgment, Aetna agreed to pay petitioner
$142,000 (rounded) in exchange for a release and discharge of any
and all past or future claims. Petitioner and Coughlin signed
the release on November 1, 1990. The parties did not discuss tax
consequences during the negotiation of the settlement. The
release did not state whether any of the $142,000 was interest,
and the parties did not otherwise allocate any of the amount to
Page: Previous 1 2 3 4 5 6 Next
Last modified: May 25, 2011