![]() ![]() There are often significant opportunities to gather information about the judgment debtor’s assets from third parties through domestic legal processes, even where the judgment debtor is based overseas. Given the time and expense often involved in enforcing judgments, efficient asset recovery requires a targeted approach. GATHERING INFORMATION, IDENTIFYING ASSETS, AND CONDUCTING DISCOVERY With careful attention to these aspects of a judgment enforcement engagement, the attorney and client can formulate a clear, consensual, and preliminary collection plan that is practical based upon the circumstances and available information. When preparing this analysis, counsel must also take into account a number of practical factors, including the amount of the subject judgment, the client’s willingness and ability to invest further resources in the collection process, and the client’s time horizon for recovery upon the judgment. the likely cost of various collection activities, broken out by collection phase.any applicable legal issues, such as applicable statutes of limitations and. ![]() the likely timeline for collection activities.an assessment of the likelihood of further challenge to the validity and finality of the judgment.an analysis of the jurisdiction from which the original judgment arose (whether it is the local jurisdiction, from a sister state, or a foreign country) and any process required to cause the judgment to be enforceable in the jurisdiction in which any of judgment debtor’s located assets exist.an assessment of available asset information and a plan to obtain further information about the existence of potential assets from which the judgment can be collected.Any candid assessment of the collectability of a judgment should include: To avoid a dissatisfied client, any discussion about judgment collection must include a candid and realistic assessment by counsel of the various challenges inherent in the process and a recognition that having a judgment does not guarantee it will be collected, even with diligent enforcement efforts. Judgment collection requires the collecting attorney to assess the collectability of the judgment and to discuss the prospect of collection and the likely cost of collection with the judgment creditor client so the client can make well-informed decisions about collection strategies. The collection of a judgment is a significant engagement for both an attorney and their judgment creditor client. With a valid judgment in hand, what do you do next? ASSESSING COLLECTABILITY AND INFORMING THE CLIENT Judgment enforcement requires a combination of strategy, creativity, diligence, and patience. ![]()
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