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Note: Hagen (Judgment Creditor) obtained a judgment against Siouxland Obstetrics & Gynecology (Appellant) in the U.S. District Court for the Northern District of Iowa for USD 1,051,814 and a further judgment for pre- and post-judgment interest. To stay the execution of the judgment pending appeal, Appellant obtained an irrevocable standby LC for USD 1,100,000.

The United States District Court for the Northern District of Iowa, Bennett, J., granted the motion for a stay pending an appeal of the underlying judgment to the Eighth Circuit, ordering Appellant to tender the original LC to the Clerk of Court.

The court noted, "A district court may, in its discretion, grant a stay without requiring the posting of a bond if the appellant provides an acceptable alternative means of securing the judgment."

[JAH]

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