United States v. American Insurance Company

OPINION OF THE COURT

COWEN, Circuit Judge.

Appellant American Insurance Company (“American”) posted a surety bond guaranteeing payment of overdue tax obligations owed by the Wheeling-Pittsburgh Steel Corporation (‘Wheeling-Pitt”) to the United States. Upon Wheeling-Pitt’s default, the United States obtained a judgment against American when it refused to honor its surety contract obligation. American concedes it is liable to the United States for interest on the judgment from the date of Wheeling-Pitt’s default. This appeal raises the issue as to whether interest after default should be…