Township of West Windsor v. Nierenberg

The opinion of the court was delivered by

AXELRAD, J.T.C. (temporarily assigned).

The issue in this case involves the rates of interest to be applied from the date of filing of the condemnation complaint less credit for the monies deposited. Plaintiff, Township of West Windsor (“Township”), appeals the Law Division’s award of pre-and post-judgment interest to defendant condemnee, Yvette Nierenberg (“Nierenberg”),1 calculated on the prime rate compounded annually, claiming that the proper rates of interest should have been under the lower simple interest rates set forth in Rule 4:42-11.

Nierenberg…