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Wright v. Maersk Line, Ltd.

2003 WL 470335 (2003)

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Wright v. Maersk Line, Ltd.

United States District Court for the Southern District of New York
2003 WL 470335 (2003)

Facts

William Wright (plaintiff) was injured at work and sued his employer, Maersk Line, Ltd. (Maersk) (defendant). The jury found Wright and Maersk each 50 percent at fault for Wright’s injury and determined that the total value of Wright’s future lost earnings was $235,000 before discount to present value. Maersk’s expert recommended a net discount rate of 3 percent. The expert reached this figure by subtracting an inflation rate of 3 percent from an interest rate, based on long-term Treasury securities, of 6 percent. Wright’s expert recommended a net discount rate of 2 percent, basing his opinion on a more conservative interest rate. The court considered which net discount rate to apply.

Rule of Law

Issue

Holding and Reasoning (McKenna, J.)

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