In re Longview Energy Co. (Opinion)
Annotate this CaseTo suspend execution of a money judgment on appeal, a judgment debtor must post security as required by Tex. Civ. Prac. & Rem. Code 52.006 and Tex. R. App. P. 24. The security must cover compensatory damages, interest, and costs, but is subject to caps. In this case, Longview Energy Company obtained a judgment against five defendants for breach of fiduciary duty. Defendants appealed and together posted a $25 million bond as security to supersede enforcement of the judgment. The trial court applied the caps separately to each of four jointly and severally liable defendants, requiring the four defendants to post security equal to the lesser of $25 million or fifty percent of Defendants’ net worth. The court of appeals reversed the security order, concluding that Defendants were together required to post only $25 million in security to supersede the judgment as to them all. All parties petitioned the Supreme Court for relief by mandamus. The Supreme Court denied mandamus relief, holding (1) the money judgment award at issue was not for “compensatory damages,” and therefore, the Court need not consider whether the court of appeals correctly applied the caps on security; and (2) the trial court did not abuse its discretion in ordering post-judgment discovery.
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