Piaquadio v. American Legal Funding, LLC et al
ORDER denying 34 Motion for Bond. Signed by Honorable Robert T. Dawson on May 1, 2012. (lw)
IN THE UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF ARKANSAS
FORT SMITH DIVISION
Case No. 10-2066
AMERICAN LEGAL FUNDING, LLC
and ALFUND AZ1, LLC
On this 1st day of May 2012, there comes on for consideration,
Defendants’ Motion Pursuant to Fed.R.Civ.P. 62, to Stay Execution
Pending Appeal and Approve Supersedeas Bond (doc. 34). Also before
the Court is Plaintiff’s Response (doc. 39).
For the reasons
stated herein, the Court finds Defendants’ Motion (doc. 34) is
After a hearing on June 30, 2011, the Court entered a default
judgment against Defendants in the amount of $452,940.00 and
interest at the rate of 0.17% per annum until paid.
On March 27,
On April 19, 2012, Defendants filed their Notice of
Appeal (doc. 35).
Defendants request this Court to stay enforcement of the money
judgment pending the outcome of their appeal.
request that this Court approve a supersedeas bond in the amount of
$5000.00 rather than the full amount of the judgment as Defendants’
assets are insufficient to allow them to post a bond in the full
Generally, the amount of a supersedeas bond should include
both the principal amount of the judgment and provide for costs.
Am. Mfrs. Mut. Co. v. Am. Broadcasting-Paramount Theatres, Inc., 87
Defendants was in the amount of $452,940.00, and a $5000.00 bond is
insufficient to protect Plaintiff’s interest in that judgment.
Accordingly, Defendants’ Motion (doc. 34) is DENIED.
IT IS SO ORDERED.
/s/ Robert T. Dawson
Honorable Robert T. Dawson
United States District Judge
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