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Litigation
: CalBizLitTrial Court To Boeing: Take It To The Court of Appeal
By Bruce Nye
CalBizLit blogged late last year on ICO's $630 million thumping of Boeing from a Los Angeles Superior Court jury last Halloween. All this in a contract dispute.
Yesterday, Forbes reported that things didn't get any better in the post-trial motions. The trial court upheld the award. It'll bear interest at 10% until paid (and what investments do you have paying 10% just now?). Moreover, if Boeing wants to appeal, they're looking at posting an appellate bond of a mere $1.2 billion to avoid execution, per CCP 917.1(b). Although if they want to put up a cash deposit or get a bond from an admitted surety, it'll only cost them $945 million.
Full post as published by CalBizLit on January 08, 2009 (boomark / email).
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