NJ Business Matters, September 5, 2008
New Jersey’s tort system is increasingly hostile to business. The Pacific Research Institute ranked our tort climate 49th in the nation, Atlantic County was named a Judicial Hellhole, and companies have responded by increasing costs for consumer goods.
Last year, CIANJ joined the New Jersey Lawsuit Reform Alliance. NJLRA’s Executive Director, Marcus Rayner, even guest blogged for a week here at NJ Business Matters. Well Marcus is on to much larger audiences, and NJLRA and its mission are featured in today’s Star-Ledger. Click here to check out the entire interview.
One statement worth highlighting,
The first bill has been proposed for introduction. It’s to create an appeals bond cap.
New Jersey law requires that when a defendant tries to appeal a case, they have to purchase a bond from a lender in an amount the judge sets. The judge can set whatever amount he wants. The defendant has to put it in escrow with the court. These laws are about 120 years old. There is an appeal bond cap for tobacco companies set at $50 million.
We believe that bond cap should be extended to all defendants in civil matters. It’s an access-to-court issue. A defendant has the right to appeal, just like a plaintiff. Having to put up an appeal bond adds to the litigation costs. It’s a fundamental issue of fairness. The bond requirement can bar the courthouse door to some defendants.
CIANJ strongly supports this change to bring basic fairness in the appeals process. Look for us to blog on it a great deal in the coming months.
Posted by Paul Tyahla at 10:27 AM in Tort Reform | Permalink