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

Friday, July 4, 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.


TVA Opens Public Comment Period On Scope Of Integrated Resource Plan Update

The Tennessee Valley Authority kicked off a public comment period on Feb. 15, related to the initial process phase for updating its Integrated Resource Plan, the agency’s long-term energy resource strategy.  To ensure that the full range of issues and a comprehensive portfolio of energy resources are addressed, TVA invites members of the public, customers, businesses, employees, ... (click for more)

January Tennessee Revenues Less Than Expected

Tennessee Department of Finance and Administration Commissioner Larry Martin Tuesday announced that overall January state tax revenues posted less than expected, while year-to-date state revenues remain more than budgeted. Revenues for January totaled $1.4 billion, and were 3.18 percent less than revenues received in the same time period one year ago, and were $25 million less than ... (click for more)

Erlanger Has Unique Ribbon Cutting For $16 Million Heart And Lung Institute

Erlanger Health System unveiled its new $16 million Heart and Lung Institute on Thursday with a unique ribbon cutting. Dr. Larry Shears, a renowned heart surgeon who was recruited for the center, used the Da Vinci robot that he often operates with to clip a ribbon by remote control. The "hospital within a hospital" is on the fourth floor of the Baroness Erlanger campus on E. ... (click for more)

City Files Petition To Turn Confederate Cemetery Over To Sons Of The Confederacy

The city of Chattanooga has filed a petition in Chancery Court asking that management of the Confederate Cemetery be turned over to the Sons of the Confederacy. The Sons of the Confederacy, a group that has long taken care of the cemetery, joined in the petition. The cemetery is located by the UTC campus. It is beside the Citizens Cemetery and the Jewish Cemetery on the old ... (click for more)

Reflections On Billy Graham

Sandra and I are saddened this morning after learning of the death of Billy Graham. We rejoice today, because Mr. Graham once said "It will be reported that Billy Graham has died, but that won't be the truth. He said the truth is that he had only moved to a new location".  I remember when we named 15th Street as Billy Graham Avenue, his daughter Gigi came for the dedication ... (click for more)

Roy Exum: We’re The Angriest State

WalletHub, a financial-health website that has found it can draw a lot of attention by ranking the states on which is “fattest,” smartest, and so forth, has just announced its “sinful” rating and Tennessee churches should be ashamed of the job they are doing in making the Volunteer State a haven for puritans. Then again, our tourism may soon explode … remember Sodom & Gomorrah. ... (click for more)