(a) With respect to a foreign-money claim, recovery of prejudgment or pre-award interest and the rate of interest to be applied in the action or distribution proceeding, except as provided in subsection (b) of this section, are matters of the substantive law governing the right to recovery under the conflict of laws rules of the District.

(b) The court or arbitrator shall increase or decrease the amount of prejudgment or pre-award interest otherwise payable in a judgment or award in foreign money to the extent required by the law of the District governing a failure to make or accept an offer of settlement or an offer of judgment, or to the extent required by the law of the District governing conduct by a party or its attorney causing undue delay or expense.

(c) A judgment or award on a foreign-money claim bears interest at the rate applicable to judgments of the District.

CREDIT(S)

(Feb. 10, 1996, D.C. Law 11-85, § 2, 42 DCR 6791.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications
1981 Ed., § 15-908.
Legislative History of Laws
For legislative history of D.C. Law 11-85, see Historical and Statutory Notes following § 15-901.
Uniform Law
This section is based upon § 9 of the Uniform Foreign-Money Claims Act. See 13 Uniform Laws Annotated, Master Edition, or ULA Database on WESTLAW.

(a) With respect to a foreign-money claim, recovery of prejudgment or pre-award interest and the rate of interest to be applied in the action or distribution proceeding, except as provided in subsection (b) of this section, are matters of the substantive law governing the right to recovery under the conflict of laws rules of the District.

(b) The court or arbitrator shall increase or decrease the amount of prejudgment or pre-award interest otherwise payable in a judgment or award in foreign money to the extent required by the law of the District governing a failure to make or accept an offer of settlement or an offer of judgment, or to the extent required by the law of the District governing conduct by a party or its attorney causing undue delay or expense.

(c) A judgment or award on a foreign-money claim bears interest at the rate applicable to judgments of the District.

CREDIT(S)

(Feb. 10, 1996, D.C. Law 11-85, § 2, 42 DCR 6791.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications
1981 Ed., § 15-908.
Legislative History of Laws
For legislative history of D.C. Law 11-85, see Historical and Statutory Notes following § 15-901.
Uniform Law
This section is based upon § 9 of the Uniform Foreign-Money Claims Act. See 13 Uniform Laws Annotated, Master Edition, or ULA Database on WESTLAW.