What does an Indiana appeal bond cover?
An Indiana appeal bond must cover the full amount of the judgment remaining unsatisfied, plus costs on appeal, interest accrued during the appeal, and damages for delay. The bond guarantees that if the appeal fails or is dismissed, the appellee (winning party) will be paid the full judgment amount along with these additional expenses.
Do I need an appeal bond just to file an appeal in Indiana?
No, you do not need an appeal bond to file an appeal in Indiana. However, you do need an appeal bond (also called a supersedeas bond) if you want to stay (suspend) enforcement of the judgment while your appeal is pending. Without the bond, the winning party can begin collecting on the judgment immediately through wage garnishment, bank levies, or property liens.
What is the maximum appeal bond amount required in Indiana?
Under Indiana Code § 34-49-5-3, appeal bonds in Indiana are capped at $25 million regardless of the total judgment amount. However, if the court finds that an appellant is dissipating assets outside the ordinary course of business to avoid paying the judgment, the court may require a bond equal to the full judgment amount without the cap.