Judge: Elaine Lu, Case: 22STCV27427, Date: 2023-02-15 Tentative Ruling

Case Number: 22STCV27427    Hearing Date: February 15, 2023    Dept: 26

Plaintiff’s interest calculations are improper insofar as Plaintiff claims 10% interest from February 28, 2022.

The claim is an embezzlement claim in which the Defendants later agreed to repay the stolen amount.  As a tort, the prejudgment interest until the agreement should be 7% per the California Constitution at Article 15 § 1.   From the date of breach of the contract per the complaint of June 22, 2022 the interest should be 10% per Civil Code § 3289.

Tort interest calculation for the embezzlement is 7% until date of Agreement 6/15/22.  Total prejudgment Interest for stolen money should be $902.90.

Interest for breach of contract alleged from 6/22/22 to date of judgment (2/15/23).  Total contract prejudgment interest should be $2,869.04.

Accordingly, the total interest should be $3,771.94 --  not as Plaintiff calculated.

Default judgment is entered in the following modified amounts:

$44,000.00 (Principal) + $3,771.94 (Interest) + $683.00 (Costs) for a grand total of $48,454.94.