093_SB0732sam002











                                     LRB093 02919 RCE 14638 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's  net  worth  as of the end of the
19        quarter immediately preceding the date of  the  judgment.
20        If  the movant's net worth meets or exceeds the amount of
21        the  judgment,  interest,  and  costs,  the  movant  must
22        demonstrate that it will maintain a net worth in at least
 
                            -2-      LRB093 02919 RCE 14638 a
 1        the amount of the judgment, interest,  and  costs  during
 2        the  pendency of the appeal. If the movant's net worth is
 3        less than the  amount  of  the  judgment,  interest,  and
 4        costs,  the movant must demonstrate that it will maintain
 5        that net worth during the  pendency  of  the  appeal.  In
 6        appropriate  circumstances, the court may adjust or waive
 7        the requirements of this item (2).
 8             (3)  The movant will not intentionally dissipate  or
 9        divert  assets for the purpose of avoiding payment of the
10        judgment. This provision  shall  not  be  interpreted  to
11        prevent a movant from disposing of assets in the ordinary
12        course of business.
13        If the court finds that the movant has established all of
14    the  conditions  set forth in paragraphs (1) through (3) by a
15    preponderance of the evidence,  the  court  shall  grant  the
16    movant's  motion  for  reduced  appeal bond, and the movant's
17    appeal bond shall be in an amount equal to 10% or less of the
18    amount of the judgment. If the movant does not file an appeal
19    bond in that amount within the time set  by  the  court,  the
20    stay shall be lifted absent appellate relief sought to review
21    the determination.
22        If  the  court  finds that the movant has not established
23    one or more of the conditions set  forth  in  paragraphs  (1)
24    through  (3)  by  a  preponderance of the evidence, the court
25    shall deny the movant's motion for reduced appeal  bond,  and
26    the stay shall no longer be in effect unless the movant files
27    an appeal bond in an amount sufficient to cover the amount of
28    the  judgment,  interest,  and  costs within 15 days from the
29    date of the finding.  If the  movant  does  not  file  a  new
30    appeal bond in that amount within the 15-day period, the stay
31    shall  be lifted absent appellate relief sought to review the
32    determination.
33        (b)  In any case in which an appeal bond  is  reduced  as
34    provided  in  subsection    (a), the trial court shall retain
 
                            -3-      LRB093 02919 RCE 14638 a
 1    limited jurisdiction of the case solely for  the  purpose  of
 2    requiring  the  movant  to periodically assure the court that
 3    the movant continues to meet the conditions  set    forth  in
 4    paragraphs  (1)  through (3) of subsection (a).  If the court
 5    at any time finds that the movant no longer meets one or more
 6    of the conditions set forth in paragraphs  (1)  through  (3),
 7    the court may increase the amount of the appeal bond that the
 8    movant  must  file.  If the movant does not file a new appeal
 9    bond in the increased amount  within  the  time  set  by  the
10    court,  the  stay  shall  be  lifted  absent appellate relief
11    sought to review the determination.
12        (c)  Nothing in this Section shall prohibit a party  from
13    seeking relief pursuant to Illinois Supreme Court Rule 305.
14        (d)  This  Section  applies  to  any action pending on or
15    after the effective date of this amendatory Act of  the  93rd
16    General  Assembly.  An action is pending for purposes of this
17    Section until such  time  as  all  appeals  or  discretionary
18    appellate reviews of the judgment are fully decided, or until
19    the time for filing an appeal or seeking appellate review has
20    expired.  It is the express intention of the General Assembly
21    that this amendatory Act apply  to  actions  in  which  trial
22    proceedings  may  be complete, so long as the action is still
23    pending.

24        Section 99.  Effective date. This Act takes  effect  upon
25    becoming law.".