In an era when billion-dollar verdicts are no longer uncommon, appealing a jury verdict can force an individual, a company, or an industry into bankruptcy.
ATRA supports appeal bond reform legislation that limits the size of an appeal bond when a company is not liquidating its assets or attempting to flee from justice.
The personal injury bar’s argument in support of appeal bonds – that appeal bonds secure damages awards owed to a plaintiff – fails to address the hardship imposed by the bonds on defendants who are forced to choose between risking bankruptcy by posting billion-dollar bonds, many of which are ultimately overturned by an appellate court, and forfeiting their right to appeal.
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