CORRECTING and REPLACING Philip Morris USA Will Ask Illinois Supreme Court to Decide Whether Rules Governing Price Bond Permit Trial Judge to Alter Terms and Conditions.Business Editors CORRECTION...by Philip Morris USA Philip Morris USA is the United States tobacco division of Altria Group, Inc. General information On January 27, 2003, Philip Morris Companies Inc. changed its name to Altria Group, Inc. Even under this new name, Altria continues to own 100% of Philip Morris USA. NEW YORK--(BUSINESS WIRE)--July 14, 2003 In BW5815, Philip Morris USA Will Ask Illinois Supreme Court to Decide Whether Rules Governing Price Bond Permit Trial Judge to Alter Terms and Conditions, the 14th graph, second line should read xxx that it could not post a $12 billion bond (sted xxx that it could not post a $12 million bond). The corrected release reads: Philip Morris USA Will Ask Illinois Supreme Court to Decide Whether Rules Governing Price Bond Permit Trial Judge to Alter Terms and Conditions An Illinois appellate court The Illinois Appellate Court is the court of first appeal for cases arising in the trial courts of the state of Illinois. The court has 54 judges serving five separate districts. today ruled the trial judge exceeded his authority in reducing the bond Philip Morris USA must post to stay enforcement of the $10.1 billion judgment in the Price class action lawsuit class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax , and sent the issue back to the trial court for further consideration. The Illinois Fifth District Court of Appeals also granted an order staying enforcement of the Price judgment for an additional 30 days while the matter is under consideration by Madison County Madison County is the name of twenty counties in the United States, named after President James Madison:
A higher court may remand a case to a lower court so that the lower court will take a certain action ordered by the higher court. A prisoner who is remanded into custody is sent back to prison subsequent to a Preliminary Hearing before a tribunal or magistrate . "Philip Morris USA believes the rules regarding bonds are clear, the facts in this case are clear and the Supreme Court's own precedents are clear: we continue to believe that Judge Byron clearly had the authority to set a bond in an amount that protects the company's right to appeal, the Price class' financial interests during that appeal and the states' entitlement to receive substantial payments under the Master Settlement Agreement. "This is a matter of critical importance, not only for Philip Morris USA but for any defendant facing a lawsuit in Illinois. The company believes it is in the interest of all concerned parties to have the Illinois Supreme Court determine what its rules actually mean," said William S William, crown prince of Germany William or Frederick William, 1882–1951, crown prince of Germany, son of William II. In World War I he commanded (1914) an army on the Western Front and was nominal commander in the German attack . Ohlemeyer, Philip Morris USA vice president and associate general counsel. Ohlemeyer said it is appropriate for the matter to be taken up by the Illinois Supreme Court, which is the judicial body that establishes, interprets and oversees the Rules of Court. Judge Byron initially ordered the company to post a $12 billion bond in order to stay enforcement of his $10.1 billion verdict, but after lengthy hearings decided to require the company to place a $6 billion note owed PM USA, the $420 million annual interest the note generates and an additional $800 million in cash payable in quarterly installments in an escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. account controlled by the court clerk A court clerk, in British English clerk to the court or in American English clerk of the court is an officer of the court whose responsibilities include maintaining the records of a court. Another duty is to swear in witnesses, jurors, and grand jurors. . Attorneys for the class appealed the bond order because they contended it was insufficient to protect the financial interests of the class during the course of the appeal and that, by rule, Judge Byron had no discretion to reduce the bond required. At issue is Illinois Supreme Court Rule 305(b) that states, in part, "on notice and motion, and an opportunity for opposing parties to be heard, the (trial) court may stay the enforcement of any judgment ...conditioned upon such terms that are just." (Rule 305 in its entirety is appended to this release.) "Judge Byron balanced the financial condition of the company with the financial interests of the plaintiffs and ordered a bond be posted that Philip Morris USA believes, while onerous to the company, is in full compliance with the letter and the spirit of the Illinois Supreme Court bonding rules. "Neither Philip Morris USA nor any other company in this country can secure a $12 billion bond to stay enforcement of a $10.1 billion judgment. The entire bonding capacity in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. is a fraction of that amount," said Ohlemeyer. "This decision seriously jeopardizes Philip Morris USA's due process rights to pursue its appeal under both the Illinois and United States constitutions. The company will pursue every legal remedy A legal remedy is the means by which a court of law, usually in the exercise of civil law jurisdiction, enforces a right, imposes a penalty, or makes some other court order to impose its will. In Commonwealth common law jurisdictions and related jurisdictions (e.g. available to have this decision overturned," he added. During hearings before Judge Byron, even Price plaintiffs' attorney Steven Tillery conceded that the trial court "had absolute discretion" and "a wide degree of latitude (Geog.) on the earth, the distance on a meridian between two parallels of latitude whose latitudes differ from each other by one degree. This distance is not the same on different parts of a meridian, on account of the flattened figure of the earth, being 68. " to change the terms of the bond required, a position in direct opposition to the one he took before the state appellate court A court having jurisdiction to review decisions of a trial-level or other lower court. An unsuccessful party in a lawsuit must file an appeal with an appellate court in order to have the decision reviewed. . "The Price attorneys, by their request, are attempting to turn an orderly appeals process into chaos and have done a serious disservice dis·ser·vice n. A harmful action; an injury. disservice Noun a harmful action Noun 1. to their clients. "Philip Morris USA made it abundantly clear to the trial court that it could not post a $12 billion bond; the court reviewed the facts, agreed and accordingly exercised it discretion by reducing the bond required to an amount that could be met by the company while still providing financial security to the plaintiffs during the appellate process. "To think that the company now can post a $12 billion bond ignores the facts, and defies logic and reason. The company believes the Illinois Supreme Court, upon review, will remedy this matter," Ohlemeyer said. Ohlemeyer said the company will ask the Illinois Supreme Court to review the Fifth District Court's decision as soon as possible. Illinois Supreme Court: Rule 305. Stay of Judgments Pending Appeal (a) Stay of Enforcement of Money Judgments. The enforcement of a judgment for money only, or any portion of a judgment which is for money, is stayed only if a timely notice of appeal is filed and an appeal bond is presented, approved, and filed within the time for filing the notice of appeal or within any extension of time granted under paragraph (c) of this rule. Notice of the presentment of the bond shall be given to the appellee A party who has won a judgment in a lawsuit or favorable findings in an administrative proceeding, which judgment or findings the losing party, the appellant, seeks to have a higher court reverse or set aside. . The bond shall be in an amount sufficient to cover the amount of the judgment, interest and costs. (b) Other Stays of Enforcements of Judgments and Appealable Orders. On notice and motion, and an opportunity for opposing parties to be heard, the court may stay the enforcement of any judgment, or the enforcement, force and effect of interlocutory Provisional; interim; temporary; not final; that which intervenes between the beginning and the end of a lawsuit or proceeding to either decide a particular point or matter that is not the final issue of the entire controversy or prevent irreparable harm during the pendency of the orders or any other judicial or administrative order An order covering traffic, supplies, maintenance, evacuation, personnel, and other administrative details. . The stay shall be conditioned upon such terms as are just. A bond may be required in any case, and shall be required in money judgments or to protect an appellee's interest in property; (c) Extensions of Time. On motion made within the time for filing the notice of appeal or within any extension granted pursuant to this paragraph, the time for the filing and approval of the bond may be extended by the trial court or by the reviewing court or a judge thereof, but the extensions of time granted by the trial court may not aggregate more than 45 days unless the parties stipulate stip·u·late 1 v. stip·u·lat·ed, stip·u·lat·ing, stip·u·lates v.tr. 1. a. To lay down as a condition of an agreement; require by contract. b. otherwise. A motion in the reviewing court for any extension of time for the filing and approval of the bond in the trial court must be supported by affidavit and accompanied by a supporting record (Rule 328), if the record on appeal has not been filed. (d) Stays by the Reviewing Court. Application for a stay ordinarily must be made in the first instance to the trial court. A motion for a stay may be made to the reviewing court, or to a judge thereof, but such a motion must show that application to the trial court is not practical, or that the trial court has denied an application or has failed to afford the relief that the applicant has requested, and must be accompanied by suggestions in support of the motion and a supporting record (Rule 328), if the record on appeal has not been filed. If a stay is granted by the reviewing court or a judge thereof, the clerk shall notify the parties and transmit to the clerk of the trial court or administrative agency An official governmental body empowered with the authority to direct and supervise the implementation of particular legislative acts. In addition to agency, such governmental bodies may be called commissions, corporations (e.g. a certified copy A photocopy of a document, judgment, or record that is signed and attested to as an accurate and a complete reproduction of the original document by a public official in whose custody the original has been placed for safekeeping. of the order granting the stay. (e) When Notice of Appeal Is Amended. If a notice of appeal is amended to specify parts of the judgment not specified in the original notice of appeal, the stay of the judgment described in the original notice of appeal does not extend to any added part of the judgment, but a stay of the added part may be obtained under the same conditions and by the same procedure set forth above. (f) Condition of the Bond. If an appeal is from a judgment for money, the condition of the bond shall be for the prosecution of the appeal and the payment of the judgment, interest, and costs in case the judgment is affirmed or the appeal dismissed, except that the bond of an executor executor n. the person appointed to administer the estate of a person who has died leaving a will which nominates that person. Unless there is a valid objection, the judge will appoint the person named in the will to be executor. or administrator shall be conditioned upon payment in due course of administration and that the bond of a guardian for a minor or a person under legal disability shall be conditioned on payment as the guardian has funds therefor there·for adv. For that: ordering goods and enclosing payment therefor. Adv. 1. therefor . In all other cases, the condition shall be fixed with reference to the character of the judgment. (g) Changing the Amount, Terms, and Security of the Bond After the Appeal is Docketed. After the case is docketed in the reviewing court, that court or a judge thereof upon motion may change the amount, terms or security of the bond, whether fixed by it or by the trial court, and failure to comply with the order of the reviewing court or judge shall terminate the stay. (h) Appeals by Public Agencies. If an appeal is prosecuted by a public, municipal, governmental, or quasi-municipal corporation, or by a public officer in that person's official capacity for the benefit of the public, the trial court, or the reviewing court or a judge thereof, may stay the judgment pending appeal without requiring that any bond be given. (i) Insurance Policy as Bond. The filing of an insurance policy pursuant to section 392.1 of the Illinois Insurance Code (215 ILCS ILCS Illinois Compiled Statutes ILCS Iraq Living Conditions Survey (UN Development Programme for Iraq) ILCS International Liquid Crystal Society ILCS International Logistics Communication System ILCS Improved Low-Cost Sonobuoy 5/392.1 (West 1992)) shall be considered the filing of a bond for purposes of this rule. (j) Failure to Obtain Stay; Effect on Interests in Property. If a stay is not perfected within the time for filing the notice of appeal, or within any extension of time granted under subparagraph (c) of this rule, the reversal or modification of the judgment does not affect the right, title, or interest of any person who is not a party to the action in or to any real or personal property that is acquired after the judgment becomes final and before the judgment is stayed; nor shall the reversal or modification affect any right of any person who is not a party to the action under or by virtue of any certificate of sale issued pursuant to a sale based on the judgment and before the judgment is stayed. This paragraph applies even if the appellant A person who, dissatisfied with the judgment rendered in a lawsuit decided in a lower court or the findings from a proceeding before an Administrative Agency, asks a superior court to review the decision. is a minor or a person under legal disability or under duress duress (dy  `rĭs, d`–, d at the time the judgment becomes final. (k) Land Trust Bond. The filing of a bond by a beneficiary under a land trust where the land trust is a party shall be considered filing of a bond for purposes of this rule. Amended October 21, 1969, effective January 1, 1970, and amended effective July 1, 1971; amended September 20, 1979, effective October 15, 1979; amended January 5, 1981, effective February 1, 1981; amended May 28, 1982, effective July 1, 1982; amended December 17, 1993, effective February 1, 1994. |
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