Fla. Court Cuts Interest From $93M Carpet Resin Verdict

Law360, Miami (July 18, 2016, 8:32 PM EDT) -- A Florida appeals court on Monday sliced nearly $15 million in prejudgment interest from a $93 million verdict against Arizona Chemical Co. over defective carpet resin, ruling that the clock on interest should start when Mohawk Industries discovered the problem, not on the date the resin was delivered.

Florida's First District Court of Appeal ruled that prejudgment interest should be calculated from the date Mohawk had to pay customer warranty claims or discard the carpet, which was several years after Arizona Chemical had supplied the resin....
To view the full article, register now.