Atlanta, GA is home to Coca-Cola, Georgia-Pacific, Home Depot, Delta Airlines, UPS, and Newell-Rubbermaid. Fortune 500 companies call Atlanta home for its skilled labor, ease of access to major interstates, atmosphere, and quality of life. Family owned businesses, mid size companies and day-to-day entrepreneurs aim to repeat the success of their neighbors making Georgia a business friendly environment. Not unlike other states, Georgia businesses can find the environment, although pleasant and appealing, includes dangerous terrain that can take down even the largest of companies: lawsuits.
Legal action such as lawsuits can easily bankrupt the operating capital when the punitive and compensation damages are in the hundreds of millions of dollars. Nowadays it isn’t uncommon for the courts to reward judgments over $100M and then tack on another few hundred million in punitive damages. Appealing the decision may reverse the judgment, however, that action is not immediate.
The matter of the damages must be covered before an appeal is heard. Georgia courts require a supersedeas bond to cover the cost of judgment. This surety bond is also referred to as an appeal bond because it is only necessary for the appellant. A bond protects the full amount of damages and guarantees payment should the appeal be unsuccessful. Courts mandate surety bonds to not only protect all parties involved, but to ensure trivial appeal attempts do not clog the court system. The supersedeas bond cost to allow for appeal may be a financial strain on a company without the right surety bond provider.
In some instances, an Atlanta court will waive the need of a supersedeas bond if both parties agree a surety bond is unnecessary. Our lawyer trained staff at Jursico has years of expertise dealing with supersedeas bonds and we can help you find the right solution for your surety bond needs. When a client is unable to have the supersedeas mandate waived, we will work to keep the bond cost down. With the right supersedeas bond, companies are protected against further financial strain as they attempt to overturn the judgment. Contact Jurisco today to learn more.