Arizona Appeal Bonds
This would cap the appeal bond required to stay the execution of a judgment in any civil action. Under current law a bond is required to equal to the full amount of the judgment plus costs, interest and any damages related to the pending appeal. This bill will provide that the bond would have to be posted for the lesser of the following amounts: the total amount of damages awarded excluding punitive damages, $25 million or fifty percent of the appellant’s net worth. A large bond amount could infringe on the due process rights of appellants because of the fact that they might not be able to post a bond for the full amount. In these instances appellants could be forced into bankruptcy or to settle their case. This lower bond amount requirement would allow for defendants to appeal a decision without such concerns, according to the findings.
Latest posts by Vic (see all)
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