Opinion ID: 2269257
Heading Depth: 1
Heading Rank: 4

Heading: Interest on Surcharges.

Text: The plaintiffs contend that the trial court erred in affirming the master's recommendation for payment by the defendant trustee of interest at the rate of 4% on the surcharges which were allowed and adjudged, asserting that the rate should have been 6%. The defendant trustee asserts that there is ample authority for the application of the rate of 4%. The reported decisions vary, indicating that the allowance of interest on surcharges, and the rate thereof, are discretionary matters. It was so held in State v. National Surety Corp., 17 N.J. Super. 137, 141-142 ( App. Div. 1952), certification denied 9 N.J. 287 (1952). Cf. Liberty Title & Trust Co. v. Plews, 6 N.J. Super. 196, 212 ( App. Div. 1950), modified on other grounds, 6 N.J. 28 (1950). We are of the opinion that no abuse of discretion in this respect is indicated by the record in this case.