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KRS 411.187

Supersedeas bond to stay execution of judgment granting any relief during appeal -- Limit -- Rescission of limit if assets diverted or dissipated

Applied in 1 court decision — leading case 998 So. 2d 1 - BDO Seidman v. BANCO ESPIRITO SANTO INTERNATIONAL, LTD. (2008)

Most recently applied in 998 So. 2d 1 - BDO Seidman v. BANCO ESPIRITO SANTO INTERNATIONAL, LTD. (April 2008)

Effective: June 26, 2007 History: Amended 2007 Ky

(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of avoiding ultimate payment of the judgment, the limitation granted under subsection (1) of this section shall be rescinded and a court may require the appellant to post a bond in an amount up to the full amount of the judgment pursuant to the Kentucky Rules of Civil Procedure.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.