Sentences with phrase «interest in a personal injury action»

Not exact matches

(2) Despite subsection (1), the rate of interest on damages for non-pecuniary loss in an action for personal injury shall be the rate determined by the rules of court made under clause 66 (2)(w).

53.10 The prejudgment interest rate on damages for non-pecuniary loss in an action for personal injury is 5 per cent per year.

Section 127 of the Courts of Justice Act defines «the prejudgment interest rate» as «the bank rate at the end of the first day of the last month of the quarter preceding the quarter in which the proceeding was commenced».11 Nevertheless, the court examined s. 128 (1) and (2) of the Courts of Justice Act and described that prejudgment interest has two default rules: one for non-pecuniary loss in personal injury actions, and another for all other awards where prejudgment interest is available.