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Alabama Supreme Court Holds that Exxon is Not Entitled to Post-Judgment Interest on Declaratory Judgment Because the Judgment Was Not a Money Judgment

p class="LFWBlank" style="margin: 0in 0in 12pt"font size="3"font face="Times New Roman"span style="mso-spacerun: yes"span style="font-size: 12pt"In a href="http://http://www.alabamaappellatewatch.com/uploads/file/exxon post judgment(1).pdf"uExxon Mobil Corp. v. State /uuDeprsquo;t/u/aua href="http://http://www.alabamaappellatewatch.com/uploads/file/exxon post judgment(1).pdf". of Conservation and Natural Res/a./u, No. 1070716, released December 12, 2008, the Alabama Supreme Court held that a judgment ordering Exxon to compute royalties ldquo;according to the leases as interpreted by the jury,rdquo; was not a money judgment and therefore not subject to postjudgment interest.nbsp;/span/span/font/fontnbsp;/p p class="LFWBlank" style="margin: 0in 0in 12pt"br / nbsp;/ppOn remand following ta href="http://www.alabamaappellatewatch.com/2007/11/articles/slip-opinions/alabama-supreme-court-issues-opinion-in-exxon-v-state/"his opinion/a,nbsp;the State and Exxon largely agreed as to the amounts owed by Exxon. They did not reach agreement, however, as to pre- and postjudgment interest./p pThe State argued that it was entitled, pursuant to sect;8-8-10 of the Alabama Code to postjudgment interest on the trial courtrsquo;s December 5, 2003 judgment. That judgment simply ordered Exxon to compute future royalties ldquo;according to the leases as interpreted by the jury.rdquo; It did not adjudicate or fix an amount of future royalties owed the State by Exxon and therefore did not constitute a ldquo;money judgment.rdquo; As sect;8-8-10 applies only when the judgment is one for the payment of money, Bank Independent v. Coats, 621 So.2d 951 (Ala. 1993), the State was not entitled to postjudgment interest on the December 5, 2003 judgment. br / nbsp;/pimg src="http://feeds.lexblog.com/~r/AlabamaAppellateWatch/~4/488745378" height="1" width="1"/

Full post as published by Alabama Appellate Watch on December 18, 2008 (boomark / email).