The company had previously succeeded in getting Judge Nicholas Byron to cut in half to six billion dollars a bond that it must post in order to appeal a massive fine.
But after an appellate court’s July 14 finding that he had overstepped his powers, the Madison County judge Friday re-imposed the original 12-billion-dollar bond requirement on the company.
“Philip Morris USA strongly believes that requiring a bond of $12 billion so burdens the company’s right to appeal … as to deny due process,” said Philip Morris counsel William Ohlemeyer on Friday.
“Unless the Illinois Supreme Court overrules the appellate court regarding Judge Byron’s discretion in establishing the terms of a lower bond, the company will face enormous financial uncertainty in the short term,” it said.
Philip Morris USA must post the bond if it is to appeal against a $10.1 billion verdict that it misled smokers about light cigarettes.
On March 21, Philip Morris was ordered to pay $7.1 billion in actual damages to smokers and $3 billion in punitive damages to Illinois for misleading smokers about the dangers of Marlboro Lights and Cambridge Lights cigarettes over the past 30 years.