Kentucky Statutes 411.187 – Supersedeas bond to stay execution of judgment granting any relief during appeal — Limit — Rescission of limit if assets diverted or dissipated
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(1) In any civil action brought under any legal theory, the amount of a supersedeas bond necessary to stay execution of a judgment granting legal, equitable, or any other relief during the entire course of all appeals or discretionary reviews of the judgment by all appellate courts shall be set in accordance with applicable law, except that the total amount of the supersedeas bonds that are required collectively of all appellants during the appeal of a civil action may not exceed one hundred million dollars ($100,000,000) in the aggregate, regardless of the amount of the judgment that is appealed.
(2) If the appellee proves by a preponderance of the evidence that a party bringing an appeal, for whom the supersedeas bond requirement has been limited, is purposefully dissipating or diverting assets outside of the ordinary course of its business for the purpose of avoiding ultimate payment of the judgment, the limitation granted under subsection (1) of this section shall be rescinded and a court may require the appellant to post a bond in an amount up to the full amount of the judgment pursuant to the Kentucky Rules of Civil Procedure.
Effective: June 26, 2007
History: Amended 2007 Ky. Acts ch. 111, sec. 1, effective June 26, 2007. — Created
2000 Ky. Acts ch. 205, sec. 1, effective March 29, 2000.
Legislative Research Commission Note (6/26/2007). 2007 Ky. Acts ch. 111, sec. 2, provides that “Section 1 of this Act (this section) shall apply to all civil actions pending on the effective date of this Act (June 26, 2007).”
(2) If the appellee proves by a preponderance of the evidence that a party bringing an appeal, for whom the supersedeas bond requirement has been limited, is purposefully dissipating or diverting assets outside of the ordinary course of its business for the purpose of avoiding ultimate payment of the judgment, the limitation granted under subsection (1) of this section shall be rescinded and a court may require the appellant to post a bond in an amount up to the full amount of the judgment pursuant to the Kentucky Rules of Civil Procedure.
Terms Used In Kentucky Statutes 411.187
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Effective: June 26, 2007
History: Amended 2007 Ky. Acts ch. 111, sec. 1, effective June 26, 2007. — Created
2000 Ky. Acts ch. 205, sec. 1, effective March 29, 2000.
Legislative Research Commission Note (6/26/2007). 2007 Ky. Acts ch. 111, sec. 2, provides that “Section 1 of this Act (this section) shall apply to all civil actions pending on the effective date of this Act (June 26, 2007).”