Court Opinion

ID: 9730535
Source: CourtListenerOpinion
Date Created: 2023-08-26 15:15:04.473949+00
Date Added: 2024-06-11T18:26:07.287946
License: Public Domain

M. J. Kelly, J.
(concurring in part and dissenting in part). I do not agree that the consent judgment entered in this case on February 27, 1984, creates an exception to the general rule limiting an insurer’s liability for postjudgment interest to an amount equalling the combined policy limits. When read in its entirety, the consent judgment obligates defendants to pay "interest owed, if any, on the entire amount of the judgment ($2,250,000.00) * * * under the terms of its insurance policy or * * * under the laws of the State of Michigan”. I construe this language to mean that the parties had agreed to submit to the courts the question of the amount upon which postjudgment interest was due and the issue was to be decided in accordance with the terms of the insurance contracts and in accordance with the general principles of Michigan law. I do not agree that the consent judgment created substantive *829rights and obligations on the subject of postjudgment interest. Since, under the terms of the insurance contracts and under general principles of law as announced by the majority, plaintiff may recover postjudgment interest only on the combined policy limits of $1,300,000, I dissent from the majority’s holding in this regard.