First National Capital, LLC won an award in arbitration against Bluestone Resources, Inc. and sought confirmation of the award including post-judgment interest in court.
The Dallas Court of Appeals affirmed the trial court judgment which included not only damages, attorney’s fees and costs specified in the award but also affirmed post-judgment interest on
that portion of the Judgment which provided “all sums awarded to [First National] in this judgment shall bear interest at the current statutory rate of 5.0% per annum from the date of this order until paid or otherwise satisfied by Bluestone.” Note the Judgment specifies interest accrues post-judgment, not post award. Bluestone Resources, Inc. v. First National Capital, LLC, Dallas Court of Appeals No. 05-20-00776-CV (April 29, 2022).
Bluestone appealed objecting to the portion of the Judgment awarding post-judgment interest arguing interest had not been awarded by the arbitrator and therefore the Judgment was an unauthorized modification of the arbitration award.
The Dallas Court’s opinion including post-judgment interest noting the Texas Finance Code authorized interest on a “money judgment of a court of this state.” Since the judgment confirming the award in favor of First National is a final judgment issued by the trial court for the recovery of money, therefore First national is statutorily entitled to recover post-judgment interest on the amount awarded.
The Dallas Court notes four other Texas appellate courts (Houston [1st Dist.], Houston [14th Dist.], San Antonio and Austin) have ruled to the contrary.
This issue appears to be ripe for resolution by the Texas Supreme Court.
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