United States Ex Rel. Lamesa National Bank v. Liberty Mutual Insurance (In Re Schooler)
This memorandum opinion addresses the motion for prejudgment interest filed by Lamesa National Bank (LNB) against Liberty Mutual Insurance Company. Liberty Mutual was previously found liable to the bankruptcy estate of Robert and Tina Schooler for $112,247.66. The court exercised its discretion to award prejudgment interest, citing federal law and a strong presumption in favor of such awards, which aim to compensate the estate for the loss of funds. Adopting guidance from state law for the interest rate, the court set it at 5.0% compounded annually, with accrual commencing from the complaint's filing date of September 8, 2009.