United States v. United Drill & Tool Corp.

HOLTZOFF, District Judge.

This case presents the question whether interest is payable on an amount due to the United States from a government contractor under the Renegotiation Acts, 50 U.S. C. A.Appendix, § 1191. It is a case relating to a contract made during World War II.

Admittedly, neither the statute nor the determination makes any provision for interest. It has been held, however, that obligations for the payment of money to the United States impliedly bear interest on equitable principles, Royal Indemnity Co. v. United States, 313 U.S. 289, 61 S.Ct. 995, 85 L.Ed. 1361.

The precise…