Sentences with phrase «judgment creditor»
A judgment creditor is a person or entity that has won a legal case and is owed money by the losing party. They have the right to collect the amount owed through various legal means, such as seizing assets or garnishing wages. Full definition
Each state has different laws regarding how long judgment creditors have to enforce their judgments.
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Sometimes, successful recognition and enforcement in another forum is the only means by which a foreign judgment creditor can obtain its due.
In addition to his real estate practice, he also has significant experience representing lenders in contractual claims against borrowers and guarantors in courts throughout Michigan, as well as representing judgment creditors in post-judgment collection actions.
The trial court held that the trust was protected from judgment creditors under Code section 2 - 1403 (735 ILCS 5/2-1403) and denied the plaintiff's motion.
Represented an industrial equipment manufacturer in proceedings brought by judgment creditors seeking to attach a customer's equipment that had been shipped to manufacturer for repair.
Parliament has made a policy decision that a bankrupt should not be allowed to raise the shield of his or her general discharge against judgment creditors who hold judgments grounded on reprehensible conduct: Simone v. Daley (1999), 43 O.R. (3d) 511 (ONCA).
Represented judgment creditors in federal fraudulent conveyance action arising out of $ 28.5 million federal judgment
No doubt that practical commercial reality accounts for the paucity of Canadian cases in this area — judgment creditors tend to go forward only in those jurisdictions where little doubt exists that their judgment debtors possess assets.
The State argued that the transfer was a fraudulent conveyance, intended to keep a valid judgment creditor from getting paid.
To the relief of judgment creditors across the country, the Supreme Court ruled that courts can use their inherent jurisdiction to make orders permitting the disclosure of personal information, including personal information contained in mortgage discharge statements, and that such disclosures are permitted based on the implied consent of the mortgagor.
Our lawyers can act in large Ontario judgment debt and arbitration award collection matters to enforce judgment creditor's remedies or to defend the judgment debtor's rights.
However, as a standard judgment creditor, the condominium corporation would have no security over the owner's unit.]
Acted for judgment creditors successful in piercing the corporate veil of the judgment debtor corporation and fixing the individual shareholders with liability for judgment.
Potential methods of enforcement available to judgment creditors include but are not limited to:
The Ecuadorian judgment creditors have not chosen to recognize their judgment in the U.S. — the only jurisdiction where Chevron Corporation is found.
A new interim federal rule, 31 C.F.R. Part 212 promulgated by the U. S. Treasury Fiscal Service [FN1] goes into effect May 1, 2011 protecting federal benefits automatically deposited into bank accounts from restraint or execution by judgment creditors.
The Florida Constitution grants all Floridians the right to unlimited homestead protection against judgment creditors, regardless of the length of residency.
«I say with all the strength at my disposal that a cheque drawn by Woyome in favour of the Economic and Organized Crime Office, which was not a party to the action or the judgment creditor, can not be a cheque in part payment of the unconstitutional monies ordered by the Court to be refunded to the Republic.
It is trite that an appeal does not operate as a stay of execution and a judgment creditor can not be stopped from enjoying the benefit of his victory at the court,» Ogundipe added.
The looter (the incumbent Government) who had been declared to have unconstitutionally looted the monies for the «lootee» (now styling itself as a judgment creditor for the money it looted for the lootee) opposed my application with the support of the lootees both by affidavit.
Even if Junior doesn't file bankruptcy, his judgment creditors may have many years to wait until Junior's finances improve — whether through inheritance or otherwise — then pounce on him and seize his assets.
Filing for bankruptcy will discharge your personal liability for debts, including debts that are owed to judgment creditors.
However, if a judgment creditor has placed a lien on your property, filing for bankruptcy will not, in and of itself, remove the lien.
The extent to which a judgment creditor can pursue a consumer is a function of state law, with each state granting creditors slightly different options for pursuing judgments.
Exemption laws have been enacted by every state as well as the federal government to protect the property of debtors against the claims of judgment creditors and, once a bankruptcy case is filed, the trustee.
In fact, judgment creditors can take up to 25 % of your «take home» (net) pay until your debts are paid.
Under New York law, a judgment creditor may then garnish 10 % of gross wages, put a lien against real estate (but not actually sell the real estate, if it is the debtor's residence, in most cases) and seize bank accounts if the balance is over $ 1,740.00.
Each secured debt, such as mortgages, home equity loans, car loans, boat loans, furniture loans, judgment creditors, tax liens etc., must be analyzed carefully before a bankruptcy case is filed.
If you are receiving Social Security money, I urge you to take time now — before a judgment creditor begins collection efforts — to protect your bank accounts.»
Now that many more Social Security recipients are entering the electronic banking world, I expect that more than a few will find themselves trying to get money back from a judgment creditor who found a co-mingled account.
If you want to keep your federal tax refunds from a judgment creditor that is garnishing you, then avoid direct deposit and get a check sent to you.
Once this happens, the judgment creditor has the power to garnishee your wages, seize assets or freeze your bank account.
Other businesses that might surprise you to know have access to your report include: collection agencies, judgment creditors, government agencies, and state or local child support enforcement agencies.
A judgment creditor asked the sheriff to seize and sell a house to satisfy the judgment.
A recent unreported decision (ENRC NV v Zamin Ferrous Limited [2015] JRC 217) has demonstrated the Jersey Royal Court's willingness to make disclosure orders not only to police post-judgment freezing orders but also to ensure that judgment creditors have all the information they need to enforce their judgments worldwide.
Although those assets were not specifically caught by the freezing order, the Court was satisfied that it would not be possible to police Zamin's obligations under the freezing order unless information as to the assets held by the subsidiaries was disclosed, concluding that «it must be information as to assets within a corporate structure beneath a judgment debtor that a judgment creditor needs in order to execute the judgment anywhere in the world».
The Royal Court emphasised that the court has a «wide discretion» to order further disclosure, not only for the purposes of policing freezing orders but also to ensure «that the judgment creditor has all the information he needs to execute the judgment anywhere in the world».
The reasons for this are two-fold: first, in post-judgment cases the liability of the judgment creditor will already have been established — the proceedings have gone beyond the point where the plaintiff is merely asserting a claim; secondly, once a judgment has been obtained, the Court has a free - standing jurisdiction, independent of the freezing order jurisdiction, to order disclosure in aid of enforcement.
Rule 12 is amended to provide that the judgment debtor, rather than the clerk, must mail notice to the judgment creditor of a motion that a judgment be deemed satisfied.
Amended Rule 7 specifies that the judgment creditor must send a copy of any disclosure order to the judgment debtor and must file a certificate of service.
If the judgment debtor has assets in Dubai, the judgment creditor can now apply to the DIFC Court for referral of the DIFC Court judgment to the Dubai Courts for enforcement, through the enforcement section of the Dubai Courts (the Execution Court).
Normally, a judgment creditor will choose to commence recognition and enforcement proceedings in a forum where the judgment debtor has assets.