New Jersey 2022-2023 Regular Session

New Jersey Assembly Bill A1066

Introduced
1/11/22  

Caption

Limits amount of appeal bond in civil actions to $50 million.

Impact

If enacted, A1066 would result in significant changes to the handling of appeal bonds in New Jersey's civil litigation system. By capping the bond amount, the intention is to prevent situations where potentially bankrupting financial obligations hinder rightful appeals. The legislation applies to all judgments entered after its effective date, ensuring a backward-looking application in terms of its impact on existing cases.

Summary

Bill A1066 aims to limit the total amount of appeal bonds required in civil actions to the lesser of the total value of the monetary judgment or $50 million. This change is designed to make it easier for parties appealing civil judgments to secure a stay of payment during the appeal process, ensuring that large judgments do not unreasonably burden defendants. The bill also specifies that courts retain the discretion to reduce the bond amount for good cause shown, allowing for flexibility in its application depending on individual cases.

Contention

There may be points of contention surrounding the provisions of this bill, particularly those that allow courts to require higher bond amounts in cases where an appellant is found to be concealing or diverting assets. Critics may argue that these provisions could lead to unfair practices and complicate the appeal process. Moreover, while supporters of the bill advocate for the reduction of financial barriers to appeal, opponents may express concerns about the potential for less accountability in judgments, suggesting that disturbing the existing balance may adversely affect appellees seeking relief.

Companion Bills

No companion bills found.

Previously Filed As

NJ A2908

Limits amount of appeal bond in civil actions to $50 million.

NJ HB2351

Civil litigation; suspension bonds and irrevocable letters of credit upon appeal.

NJ SB999

Appeals; procedure on appeal, payment of expenses.

NJ SB143

Court of Appeals of Virginia; makes various changes to procedures and jurisdiction of the Court.

NJ SB466

Relating to limitations on civil actions or appeals brought by inmates

NJ AB2437

Civil actions: statute of limitations.

NJ AB287

Civil actions: statute of limitations.

NJ SB71

Jurisdiction: small claims and limited civil case.

NJ SB688

Civil actions: judgments by confession.

NJ SB2582

Board of Cosmetology; increase fines for certain actions and revise licensing requirements and appeals process.

Similar Bills

CA SB1200

Enforcement of judgments: renewal and interest.

CA AB774

Civil actions: enforcement of judgments.

AZ HB2297

Judgments; liens; homestead exemption

KY HB801

AN ACT relating to Canadian money judgments.

CA AB1119

Enforcement of judgments.

CA AB905

Money judgments of other jurisdictions.

CA SB642

Civil actions: renewal of judgments.

VA HB1234

Judgments; limitations on enforcement, extensions and renewals.