With respect to a foreign-money claim, recovery of prejudgment or preaward interest and the rate of interest to be applied in the action or distribution proceeding are matters of the substantive law governing the right to recovery under the conflict-of-laws rules of the Commonwealth.
However, the court or arbitrator shall increase or decrease the amount of prejudgment or preaward interest otherwise payable in a judgment or award in foreign money to the extent required by the law of the Commonwealth.
A judgment or award on a foreign-money claim bears interest at the rate applicable to judgments of the Commonwealth.
1991, c. 24.
Structure Code of Virginia
Title 8.01 - Civil Remedies and Procedure
Chapter 17.3 - Uniform Foreign-Money Claims Act
§ 8.01-465.16. Variation by agreement
§ 8.01-465.17. Determining money of the claim
§ 8.01-465.18. Determining amount of the money of certain contract claims
§ 8.01-465.19. Asserting and defending foreign-money claim
§ 8.01-465.21. Conversions of foreign money in distribution proceeding
§ 8.01-465.22. Prejudgment and judgment interest
§ 8.01-465.23. Enforcement of foreign judgments
§ 8.01-465.24. Determining United States dollar value of foreign-money claims for limited purposes
§ 8.01-465.25. Effect of substitution of currency by issuing authority