In a family law proceeding, the court resolved a post-judgment dispute over the applicable pre-judgment interest rate on an equalization-related payment.
The responding party argued for the presumptive statutory rate under ss. 127 and 128 of the Courts of Justice Act, while the moving party sought an averaged market-based rate under s. 130.
The court held that significant market-rate fluctuations justified departing from the presumptive rate and exercising discretion to set a just rate.
Pre-judgment interest was fixed at 2.75%, and a final order was directed to issue on the amended draft.
