Puget Sound National Bank v. St. Paul Fire & Marine Insurance

This is an appeal and cross appeal from a judgment entered against defendant St. Paul Fire and Marine Insurance Company (St. Paul) in favor of plaintiffs Continental Bank of Burien (the bank) and Puget Sound National Bank. The parties also ask this court to clarify the effect on this judgment of the 1980 change in the legal interest rate. We affirm the judgment of the trial court and decline to apply the new interest rate to a judgment entered before the effective date of the new legislation.

Continental Bank was organized in 1969 as a state-chartered commercial bank. Ralph Dreitzler, Jr. was…