Hartford v. CBV Parking Hartford, LLC

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In this dispute over compensation owed after property was taken by eminent domain, the Supreme Court reversed the interest awarded by the trial court and otherwise affirmed the judgment, holding that the trial court lacked authority to set a rate of interest other than the default rate after it rendered its judgment of compensation.Plaintiff, the city of Hartford, took certain property owned by three defendants. Defendants appealed from the statement of compensation filed by the city. The trial court sustained the appeal and increased the amount of compensation. The court then ordered the city to pay interest at the rate of 7.22 percent. The Supreme Court reversed as to the rate of interest and offer of compromise interest, holding (1) the trial court properly valued the property; but (2) the trial court exceeded its authority under Conn. Gen. Stat. 37-3c in awarding interest at the rate of 7.22 percent after it rendered judgment sustaining Defendants’ appeal because Defendants were entitled only to the default rate of interest provided in section 37-3c. The Court remanded the case with direction to award the default rate of interest under section 37-3c. View "Hartford v. CBV Parking Hartford, LLC" on Justia Law