November 30, 2022

Volume XII, Number 334

Advertisement

November 30, 2022

Subscribe to Latest Legal News and Analysis

November 29, 2022

Subscribe to Latest Legal News and Analysis

November 28, 2022

Subscribe to Latest Legal News and Analysis
Advertisement

Wisconsin Governor Signs Law Lowering Interest Rates on Judgments in Civil Actions

On November 16, 2011, Governor Scott Walker signed 2011 Wisconsin Act 69 which lowers the interest rate on judgments in civil suits. Under current law, interest accrues on judgments at a rate of 12% per year from the date of entry of judgment until the date the judgment is paid.  Further, under current law, if a party makes a settlement offer that is rejected, and the party ultimately recovers a judgment that is equal to or greater than the settlement offer, interest accrues at 12% from the date of the settlement offer. 

The new law lowers the interest rate in these situations from 12% to 1% plus the prime rate, as reported by the federal reserve board. The effective prime rate is the rate reported on January 1 of the year in which the judgment is entered if entered, before June 30, or it is the rate in effect on July 1, if the judgment is entered after June 30.   

The new law applies to civil judgments entered on or after December 2, 2011.   

©2022 MICHAEL BEST & FRIEDRICH LLPNational Law Review, Volume I, Number 339
Advertisement
Advertisement
Advertisement

About this Author

Ann Ustad Smith, Michael Best Law Firm, Finance and Banking Attorney
Partner, Practice Chair

Ann works with business owners, investors, and lenders, establishing and navigating their financial relationships and resolving matters relating to financial distress. Her practice is focused on commercial transactions, commercial litigation, bankruptcy, and other insolvency situations, and she is known for:

  • Structuring and closing complex financial transactions

  • Practical, effective solutions to distressed financial situations

  • Resolving (including through...

608-283-2251
Advertisement
Advertisement
Advertisement