Judge Allyne Ross
A judgment awarded Bild $3 million, plus pre-judgment interests and costs. The parties disagreed on Bild's continued entitlement to annual interest payments under the relevant loan documents following the acceleration of Wieder's debt and if so, whether Bild was entitled to pre-judgment interest on each of those post-acceleration interest payments. Looking to NML Capital v. Republic of Argentina, the court found the answer to both questions was yes. Like the plaintiff bondholders in NML Capital, the court found Bild was entitled to be compensated for the loss of the time value of the contractually-required interest. Thus Bild must be compensated for Wieder's failure to timely make the annual interest-only payments and was entitled to pre-judgment interest on those payments even after acceleration of the debt. The judgment was amended to reflect that Bild was entitled to: $3 million; pre-judgment interest thereon at the rate of 11 percent from Dec. 31, 1998 to Dec. 31, 1999, and at the rate of 15 percent from Jan. 1, 2000 to the date of the judgment; pre-judgment interest at the statutory rate of 9 percent on each of the interest payments owed by Wieder under the terms of the loan documents; and costs and attorney fees.
