Legal Opinion
Compagnie Nationale Algeriennede Navigation v. Rio Grande Transport, Inc.
Court of Appeals for the Second Circuit
Decided August 8, 1985No. Nos. 84-7896, 84-7898PublishedCited by 1 opinion
1Opinion of the Court
GEORGE C. PRATT, Circuit Judge:
The sole issue before us is whether the district court abused its discretion by awarding prejudgment interest from the dates the parties entered into settlement agreements that neither specified time for payment nor provided for payment of interest. Finding that interest should not have been charged until a reasonable time had elapsed after the agreements were concluded, we reverse and remand for further proceedings.
Background
On June 12, 1978, the steamship Yellowstone, owned by Rio Grande Transport (“Rio Grande”), collided off Gibraltar with the motorvessel IBN…
2Cases cited9 opinions
- Mitsui & Co., Ltd. And Ataka & Co., Ltd., Plaintiffs-Appellants-Cross v. American Export Lines, Inc., Defendant-Appellee-Cross-Appellant. Armstrong Cork Canada, Ltd., and Armstrong Cork Company v. American Export Lines, Inc.Court of Appeals for the Second Circuit · 1981
- Chris-Craft Industries, Inc. v. Piper Aircraft Corp.Court of Appeals for the Second Circuit · 1975
- The West ArrowCourt of Appeals for the Second Circuit · 1936
- Bruce Realty Company of Florida v. BergerDistrict Court, S.D. New York · 1971
- Rosa v. Insurance Company of State of PennsylvaniaCourt of Appeals for the Ninth Circuit · 1970
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3Cited by1 opinion
- Rio Grande Transport, Inc. v. Rio Grande Transport, Inc.Court of Appeals for the Second Circuit · 1985