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Tag Archives: Interest

Trusts & Estates – Uniform Transfers to Minors Act – Accounting – Interest – First Impression — Attorney’s Fees – Speculative Investment

Belk v. Belk Where the Uniform Transfers to Minors Act is silent as to the contours of the accounting remedy provided for in G.S. § 33A-19(a) and (d), we hold that a trial court may award interest on funds wrongfully disbursed, representing the loss of appreciation on such funds.

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Domestic Relations – Equitable Distribution – Distributive Award – Ability to Pay – Interest 

Smith v. Smith The trial court found that the plaintiff-husband had $176,000 equity in the marital home; moreover, the trial court distributed to the husband $33,662 in “liquid, non-tax-deferred assets.” Therefore, the trial court did not err in determining that the husband “has the ability to make the [$110,575] distributive award.”

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Workers’ Compensation – Appeals – No Late Payment Penalty – Interest

Norman v. Food Lion, LLC When an employer has been ordered to pay workers’ compensation benefits, but the employer appeals, payment does not become due until either the employer waives the right to appeal or all appeals have been exhausted. Therefore, an employer is not subject to a late payment penalty when it loses on appeal or waives further appeal. We reverse the Industrial Commission’s award of a late payment penalty against defendants.

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Workers’ Compensation – Interest – ‘Initial Hearing’ – Vacated Award

Puckett v. Norandal USA, Inc. Even though the first deputy commissioner to hear plaintiff's case made an erroneous ruling and even though the his award was vacated, that hearing was still the "initial hearing" in plaintiff's case, and G.S. § 97-86.2 requires the Industrial Commission to award plaintiff interest on his award "from the date of the initial hearing on the claim...."

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Domestic Relations – Child Custody – Visitation – Costs – Interest – Rule 11 – Sanctions

Peters v. Pennington. (Lawyers Weekly No. 11-07-0215, 42 pp.) (Robert N. Hunter Jr., J.) Appealed from Mecklenburg County District Court. (Rebecca T. Tin, J.) N.C. App. Click here for the full text of the opinion. Holding:  Where there was evidence ...

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IOLTA forced to tap reserves for second year

Last year, the board members of IOLTA - the fund that comes from interest on trust accounts - sat around a U-shaped table in downtown Raleigh and did something they didn't want to do: Withdraw $1 million from reserves. One year later, at their annual grant-making meeting earlier this month, they did it again. It wasn't an easy decision, board members said. But in the current economic climate it was the only way to hold somewhat steady on the grants that fund Legal Aid and other organizations that provide help in civil actions for those who can't afford attorneys.

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