Lagstein v. Certain Underwriters, No. 11-17369 (9th Cir. 2013)
Annotate this CaseThis appeal concerned the parties' dispute over an arbitration award to plaintiff. Plaintiff appealed the district court's ruling on interest and attorney's fees, and Lloyd's cross-appealed requesting return of an alleged overpayment to plaintiff from a fund which held that the award in escrow pending the outcome of litigation. The court concluded that the decision of the arbitrators did not foreclose the district court from awarding interests on the remaining portions of the arbitration award; plaintiff was entitled to post-award, pre-judgment interest pursuant to Nev. Rev. Stat. 17.130; to the extent the mandate must include instructions on pre-judgment interest to comply with Rule 37(b) of the Federal Rules of Appellate Procedure, the court reformed the mandate as such; plaintiff was entitled to collect post-judgment interest on his post-award, pre-judgment interest from the date of this opinion until the date Lloyd's pays the interest; plaintiff was entitled to attorney's fees pursuant to Nev. Rev. Stat. 689A.410(5); and the district court did not impermissibly overpay plaintiff when it released the funds from the escrow account and included interest on the contract damages through the date of payment. Accordingly, the court reversed and remanded in part and affirmed in part.
Court Description: Attorney’s Fees / Arbitration Award. The panel reversed and remanded the district court’s ruling on interest and attorney’s fees, and affirmed the district court’s denial of a request for return of an alleged overpayment to plaintiff from an escrow fund in an diversity action involving an arbitration award arising from a plaintiff’s claim on a disability insurance policy. The panel held as a threshold issue that the decision of the arbitrators—which awarded the plaintiff interest on contract damages—did not foreclose the district court from awarding interest on the remaining portions of the arbitration award. The panel held that under Nevada law plaintiff was entitled to collect post-award, pre-judgment interest on the non- contract damages portions of the arbitration award from the date of the awards through the date of payment. The panel also held that plaintiff was entitled to collect post-judgment interest on his post-award, pre-judgment interest from the date of this opinion until the date the insurer pays the interest. The panel remanded with instructions to award plaintiff attorney’s fees pursuant to Nev. Rev. Stat. § 689A.410(5). Finally, the panel held that the district court did not impermissibly overpay plaintiff when it released funds from the escrow account and included interest on the contract damages through the date of payment.
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