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[–] 102 points 2 years ago (22 children)

an amount that will grow by over $111,000 a day until it's paid.

its like the cherry on top

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  • [–] 23 points 2 years ago* (last edited 2 years ago) (4 children)

    That's about $1.25 per second.

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  • [–] 8 points 2 years ago (2 children)
  • [–] 15 points 2 years ago (15 children)
  • [–] 13 points 2 years ago (3 children)

    im curious to know what happens when he doesnt pay. can they go after all assets, including those not in new york?

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  • [–] 7 points 2 years ago (1 child)

    To my knowledge, New York can seize assets in NY and lien everything else.

    I could be wrong tho.

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  • [–] 6 points 2 years ago

    In a normal civil case once judgment has entered you receive an execution, which allows you to seize property in the state.

    In order to seize property in another state you would have to domesticate the judgment in the new state, then get an execution from that state to seize property. Domestication of a judgment is typically straightforward and simple, but it depends upon the state, some are more arduous than others.

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  • [–] 11 points 2 years ago (6 children)

    Ianal - but I believe you can’t get a re-trial if you don’t submit the money or a bond. So somebody is going to pay it, even if they have to use rubles or diamonds

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  • [–] 9 points 2 years ago (4 children)

    its the appeal process that cannot begin until theres some bond posted thats a decent percentage, if not all of it. plus interest.

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  • [–] 12 points 2 years ago* (last edited 2 years ago) (3 children)

    It is 125% of the total judgement.

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  • [–] 6 points 2 years ago (2 children)

    It depends on the jurisdiction. In some there is some judicial discretion. I saw a case where the amount was 111.1%. I am not admitted in New York and am too lazy to look up their rules. Usually the amount is enough to pay the whole judgment plus all costs (which shouldn't be a very high percentage of such a huge judgment, lol).

    One of my clients deposited the judgment amount plus court ordered costs in cash in an escrow account of the Court pending the appeal. The prevailing party received the judgment plus the interest the deposit earned (like an IOLTA).

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