Lawyers filed a class action lawsuit Wednesday in Lucas County Common Pleas Court on behalf of accident victims in Ohio who are owed interest on settlements reached with insurance companies in the past 15 years.
"At the time of settlement, a settlement debt is created, a plaintiff becomes a creditor entitled to the settlement proceeds. Thus, the plaintiff is entitled to be compensated for the lapse of time between accrual of that right (the date of settlement) and payment."
Justice Sweeney said the court's holding is supported by the public policy behind interest awards, which demands that plaintiffs be fully compensated.
"From the date of the verdict forward, the plaintiff was entitled to the verdict plus interest until the amount was paid. Now, the Supreme Court has clarified that interest is also payable on settlements for accidental injuries."
The court's decision opens the floodgates for all plaintiffs who settled injury claims in Ohio, subject to the statute of limitations. "The statute of limitations is six years if the injured party had an oral settlement agreement and 15 years if the person had a written settlement agreement." Please complete this form ONLY if you comply to the above specifications.
If you feel you qualify for damages or remedies that might be awarded in this class action please fill in our form on the right to submit your complaint.
If your injustice does not match the complaint described above, please use this form to register your complaint. Thank you.
