Insurer dodges millions in post-judgment interest

Trial Notebook

By Steven P. Garmisa

Hoey & Farina

Posted January 15, 2021 11:28 AM

Three years after Marc and Deborah Jacobs received a $26 million judgment against Yellow Cab Affiliation and Cornelius Ezeagu, the tab for post-judgment interest under Section 2-1303 of the Illinois Code of Civil Procedure topped $6 million. Stymied because Yellow Cab and Ezeagu had only $350,000 in coverage from American Country Insurance Co., and both defendants wound up in bankruptcy court, Mr. and Mrs. Jacobs tried to hold American Country liable for the post-judgment interest based on Section 2-1303 and a promise in …

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