Appeals Court Cuts 18% Interest Rate Award, Gives Attorney's Fees In Chattanooga Case

Friday, July 04, 2014

The Tennessee Court of Appeals has cut an 18 percent interest rate award and given attorney fees in a Chattanooga case.

Raines Brothers sued H.Michael Chitwood and James Dreaden in a case handled by Circuit Court Judge Jackie Bolton.

The contract action was brought after Mr. Chitwood failed to pay for construction work on a home he was occupying, but was owned by trustee Dreaden.

 Following a bench trial, Judge Bolton awarded Raines a judgment against Mr. Chitwood and Mr. Dreaden (collectively) in the amount of $66,762.71.

She also awarded pre-judgment interest at the rate of 18 percent per year, going back to Aug. 14, 2007.

Judge Bolton denied Raines’s claim for attorney's fees.

The Appeals Court upheld the judgment of $66,762.71 against Mr. Chitwood, but reversed the judgment against Mr. Dreaden.

The court modified the rate of interest from 18 percent per year to 10 percent "in accordance with relevant statutory and case law."

The Appeals Court also reversed the trial court’s denial of Raines’s claim for attorney's fees. It was sent back "for a determination of the proper amount of interest to be charged, as well as a reasonable award of attorney’s fees."

Attorneys R. Wayne Peters and Gary L. Henry represented Chitwood and Dreaden.

Attorneys Sheri A. Fox and Marcie Kiggans Bradley represented Raines Brothers.

Chattanooga Business Calendar Oct. 25 - Nov. 1

MO/27 Get a Job -- Tyner High School 10:17 a.m. to 3:55 p.m. Tyner High School: 6836 Tyner Rd. Get A Job instructs 10th graders on the finer points of interviewing skills, completing job applications, dressing for success and other topics of importance for the 21st century workforce.  Community volunteers are needed to assist with this event.  Please contact ... (click for more)

TEDxUTChattanooga Is Saturday - Participation Available Online

Registration for Chattanooga’s first TEDx event has closed, but people can still participate through the free online web stream on Saturday. Free viewing parties will be held in the Card and Benwood auditoriums of the UTC Engineering, Mathematics, and Computer Science Building (corner of Vine and Palmetto streets). Participants in the live event and the on-campus viewing parties ... (click for more)

Man Shot At Apartments On Tunnel Boulevard Wednesday Afternoon, Then 2 Juveniles Shot At Rec Center On Oakwood Drive With Suspects In Custody

Chattanooga police officers responded to the apartment buildings at 404 Tunnel Blvd. Wednesday at 1:21 p.m., where residents say they heard multiple shots fired.  Witnesses said they saw multiple suspects fleeing the scene on foot behind the complex.  The male victim was taken to a local hospital for life threatening gunshot wounds.  Later Wednesday, ... (click for more)

Several Arrested Outside Erlanger Hospital When Crowd Gathers After Woodlawn Shooting

Several people were arrested Monday night outside Erlanger Hospital after a crowd gathered and clashed with police. The crowd included family and friends of 20-year-old Apprentice Berry, who was shot multiple times and killed earlier Monday night at the Woodlawn Apartments on Wilson Street. Erlanger officials said the group gathered at the emergency room, but were later moved ... (click for more)

Chattanooga Has Lost Its Most Popular Citizen - Luther Masingill - And Response

Chattanooga has lost its most popular citizen – Luther Masingill. Although we are saddened we cherish the memories.  All of us have a Luther story.  Mine is the first time I met Luther.  This was before TV and all of Chattanooga listened to Luther on the radio.  I was 12-years-old.  Some of my buddies and I had gone to the State Theater in downtown ... (click for more)

Roy Exum: The Policeman’s Prayer

Every year, when the Law Enforcement Foundation of Greater Chattanooga holds its annual luncheon, it is one of the most heartening displays of what America really believes, down deep inside. The most prominent and influential leaders in the community – well over 1,000 -- gather to pay tribute and pledge their support to our heroes in blue who are unfaltering in their devotion, service ... (click for more)