Bill > A1055

This bill establishes a cap of $50 million on the total amount of a supersedeas bond, which is a type of security posted by a party appealing a civil court judgment to temporarily halt the enforcement of that judgment. While the court generally sets the bond amount based on existing laws, this legislation limits the collective amount for all appellants to $50 million plus trial costs. However, courts retain the discretion to reduce this bond amount if good cause is shown after a hearing. The bill also clarifies that if an appellee can prove an appellant is hiding or improperly spending assets to avoid paying a judgment, the court can order a bond up to the full judgment amount to protect the appellee, with "dissipating or diverting assets" specifically excluding normal business expenditures made before the judgment. The bill defines "civil action" broadly to include various types of joined claims and "legal, equitable, or other relief" to encompass all forms of damages and remedies, and it applies to judgments entered from its effective date forward.