093_SB0732sam001

 










                                     LRB093 02919 RCE 14531 a

 1                    AMENDMENT TO SENATE BILL 732

 2        AMENDMENT NO.     .  Amend Senate Bill 732  by  replacing
 3    everything after the enacting clause with the following:

 4        "Section  5.  The  Code  of Civil Procedure is amended by
 5    adding Section 2-1405 as follows:

 6        (735 ILCS 5/2-1405 new)
 7        Sec. 2-1405. Appeal bond.
 8        (a)  If the court enters a final judgment for money in an
 9    amount exceeding $1,000,000,000 and the  party  against  whom
10    the  judgment  is  entered  files a motion for reduced appeal
11    bond, that motion stays enforcement of the judgment pending a
12    hearing on the  motion.  At  the  hearing,  the  movant  must
13    establish  all  of  the  following  by a preponderance of the
14    evidence:
15             (1)  An appeal bond in an amount sufficient to cover
16        the amount of  the judgment,  interest,  and  costs  will
17        result in undue financial hardship for the movant.
18             (2)  The movant has sufficient other tangible assets
19        along  with  money and current assets to cover the amount
20        of the  judgment, interest, and costs if  its  appeal  is
21        not successful.
22             (3)  The  movant will not intentionally dissipate or
 
                            -2-      LRB093 02919 RCE 14531 a
 1        divert assets for the purpose of avoiding payment of  the
 2        judgment.  This  provision  shall  not  be interpreted to
 3        prevent a movant from disposing of assets in the ordinary
 4        course of business.
 5        If the court finds that the movant has established all of
 6    the conditions set forth in paragraphs (1) through (3)  by  a
 7    preponderance  of  the  evidence,  the  court shall grant the
 8    movant's motion for reduced appeal  bond,  and  the  movant's
 9    appeal bond shall be in an amount equal to 10% or less of the
10    amount of the judgment. If the movant does not file an appeal
11    bond  in  that  amount  within the time set by the court, the
12    stay shall be lifted absent appellate relief sought to review
13    the determination.
14        If the court finds that the movant  has  not  established
15    one  or  more  of  the conditions set forth in paragraphs (1)
16    through (3) by a preponderance of  the  evidence,  the  court
17    shall  deny  the movant's motion for reduced appeal bond, and
18    the stay shall no longer be in effect unless the movant files
19    an appeal bond in an amount sufficient to cover the amount of
20    the judgment, interest, and costs within  15  days  from  the
21    date  of  the  finding.    If  the movant does not file a new
22    appeal bond in that amount within the 15-day period, the stay
23    shall be lifted absent appellate relief sought to review  the
24    determination.
25        (b)  In  any  case  in which an appeal bond is reduced as
26    provided in subsection  (a), the  trial  court  shall  retain
27    limited  jurisdiction  of  the case solely for the purpose of
28    requiring the movant to periodically assure  the  court  that
29    the  movant  continues  to  meet the conditions set  forth in
30    paragraphs (1) through (3) of subsection (a).  If  the  court
31    at any time finds that the movant no longer meets one or more
32    of  the  conditions  set forth in paragraphs (1) through (3),
33    the court may increase the amount of the appeal bond that the
34    movant must file.  If the movant does not file a  new  appeal
 
                            -3-      LRB093 02919 RCE 14531 a
 1    bond  in  the  increased  amount  within  the time set by the
 2    court, the stay  shall  be  lifted  absent  appellate  relief
 3    sought to review the determination.
 4        (c)  Nothing  in this Section shall prohibit a party from
 5    seeking relief pursuant to Illinois Supreme Court Rule 305.
 6        (d)  This Section applies to any  action  pending  on  or
 7    after  the  effective date of this amendatory Act of the 93rd
 8    General Assembly.  An action is pending for purposes of  this
 9    Section  until  such  time  as  all  appeals or discretionary
10    appellate reviews of the judgment are fully decided, or until
11    the time for filing an appeal or seeking appellate review has
12    expired. It is the express intention of the General  Assembly
13    that  this  amendatory  Act  apply  to actions in which trial
14    proceedings may be complete, so long as the action  is  still
15    pending.

16        Section  99.  Effective  date. This Act takes effect upon
17    becoming law.".