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The judgment creditor may also seek to execute the money judgment against intangible property, such as bank accounts, accounts receivable, and other debts owed to the judgment debtor by third parties. The creditor must request that the clerk of the court who issued the fi fa follow this up by issuing a "summons in garnishment" directed against ...
Prejudgment attachment or Prejudgment writ of attachment allows recovery of money damages by levying a security interest on the property of the party paying money damages. A writ of attachment is filed to secure debt or claim of the creditor in the event that a judgment is rendered.
That month, recovery trustee Irving Picard received funds from the Bank of New York account where Bernard Madoff held new investments into his Ponzi scheme. As it has been concluded that no legitimate investments were made on the investors' behalf for at least the last 12 years of operation, recovery has proceeded on a "money in/money out" basis.
However, premature freezing prevents investigators from following the money trail in real time. If alerted, the beneficiaries of targeted assets will most likely try to transfer the assets to make them unreachable. If delayed, there is a risk that the assets may be transferred beyond the investigator's reach. Confidentiality is key at this point.
Upon issue of the warrant the court will transfer the case to the debtor's local court and write to the debtor informing them of the warrant. The debtor is currently given seven days to pay the amount of the warrant without further action; if the defendant pays within this time, the warrant is cancelled and the money is sent by the court to the ...
Granfinanciera, S.A. v. Nordberg, 492 U.S. 33 (1989), is a 1989 United States Supreme Court case concerning the Seventh Amendment to the United States Constitution.In a majority opinion by William J. Brennan, Jr., the Court held that the Seventh Amendment guaranteed individuals the right to a jury trial if they are sued by a bankruptcy trustee seeking the recovery of an allegedly fraudulent ...