Missouri Court of Appeals, Eastern District / Nov 8, 2022
Penzel Construction Company, Inc., Respondent, vs. Jackson R-2 School District, Appellant.
Jackson R-2 School District appealed the denial of its motion for an order showing satisfaction of a judgment obtained by Penzel Construction Company, Inc. The underlying judgment included penalty interest under the Prompt Pay Act. The trial court denied the District's motion, finding the Act provided for compound interest, which the District had not paid. The appellate court reversed and remanded, holding that neither the judgment nor the Prompt Pay Act provides for compound interest, but rather for simple interest.