512.085. Supersedeas bond requirements, tobacco settlement litigation.
Supersedeas bond requirements, tobacco settlement litigation.
512.085. 1. In order to secure and protect the moneys to be receivedas a result of the master settlement agreement, as defined in section196.1000, RSMo, in civil litigation as to any claim relating to tobaccoproducts involving a signatory, a successor of a signatory, or an affiliateof a signatory to the master settlement agreement, the amount of therequired undertaking or bond or equivalent surety to be furnished duringthe pendency of an appeal or any discretionary appellate review of anyjudgment granting legal, equitable, or any other form of relief in order tostay the execution thereon during the entire course of appellate reviewshall be set in accordance with applicable laws or court rules, except thatthe total appeal bond or equivalent surety that is required of allappellants collectively shall not exceed fifty million dollars, regardlessof the value of the judgment. Nothing in this section or any otherprovision of law shall be construed to eliminate the discretion of thecourt, for good cause shown, to set the undertaking or bond on appeal in anamount lower than that otherwise established by law.
2. If the appellee proves by a preponderance of the evidence that aparty bringing an appeal or seeking a stay, for whom the undertaking hasbeen limited, is purposefully dissipating or diverting assets outside ofthe ordinary course of its business for the purpose of avoiding ultimatepayment of the judgment, a limitation granted pursuant to subsection 1 ofthis section may be rescinded and the court may enter such orders as arenecessary to prevent dissipation or diversion of the assets. An appellantwhose bond has been reduced pursuant to subsection 1 of this section shall:
(1) Provide to the court and appellee the most recent statement ofassets and liabilities of the appellant that is filed with any federal,state, or foreign regulatory agency;
(2) Provide to the court and appellee on a quarterly basis anysubsequent updated statement of assets and liabilities that is filed withany federal, state, or foreign regulatory agency; and
(3) Agree that it will not dissipate or divert assets outside theordinary course of its business for the purpose of avoiding ultimatepayment of the judgment.
3. The provisions of this section shall apply to all cases pending onor after August 28, 2003.
(L. 2003 S.B. 242)