Hooray a judgment as been entered! However, the battle is not over yet. Now the phase of enforcing and collecting on that judgment begins. In many cases, a judgement debtor will never willingly satisfy a judgment. A post-judgment Receivership is a great judgment enforcement remedy that can help recover money to pay the judgment. A post-judgment Receiver is appointed by the court and, for example, may be granted the authority to manage and take possession of the judgment debtor’s real and personal property to collect, lease, repair, or sell as the court directs. Courts have interpreted that a post-judgment Receiver is in fact working for the benefit of the judgment creditor that sought the appointment of the Receiver.
A post-judgment Receiver is tasked with investigating, locating, and seizing a judgment debtor's assets to satisfy a judgment. An appointed Receiver can immediately prompt the liquidation of a debtor’s assets by seizing and freezing bank accounts. A post-judgment Receiver can maximize the liquidation and collection of a judgment debtor’s assets by acting swiftly which prevents a judgment debtor from having time to transfer or hide assets to incumber collection efforts. An appointment order allows a Receiver direct access to debtor’s bank accounts and financial records to seize available cash. This access also allows a Receiver to discover or trace other assets and accounts that might not be readily available or known to the judgment creditor.
A post-judgment Receivership is a great tool to collect on an unpaid judgment. Richardson “Red” Griswold of Griswold Law, APC has been appointed by California Courts to act as a Post-Judgment Receiver. To learn more about post-judgment receiverships, please contact Griswold Law.