Topic:
Civil litigation and settlements
(Raoul, D-Chicago) applies to any civil action involving a claim for money damages and makes three changes. (1) The settling defendant or defendants must tender a release to the plaintiff within 14 days of an agreement to the settlement. If the law requires court approval, the plaintiff must timely obtain court approval and tender to the defendant a copy of the order approving the settlement. (2) A settling defendant must pay all sums due to a settling plaintiff within 21 days of tender by the settling plaintiff of a duly executed release (and, if required by law, a copy of the order approving the settlement). If the settling defendant fails to pay, interest accrues on the amount of the settlement calculated from the date of the release at the rate specified in Section 2-1303 of the Code of Civil Procedure. (3) Plaintiff is entitled to judgment and interest without further notice against any settling defendant who has not timely paid under this Section. Just introduced.