Statutory Interest

Submitted by Donchichio on Wed, 26/05/2010 - 16:27

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Hi there, I would like to know what is the statutory interest usually awarded by courts for money owed. And is it worked work similarly to banks such that it follows a geometric progression. or Is it a percentage that is calculated anually

thanks

The current rate is 8% and is

Submitted by Ian on Wed, 26/05/2010 - 21:07.

The current rate is 8% and is calculated annually.

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