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Full-Text Articles in Securities Law
Critique Of Money Judgment Part Three: Restraining Notices, David G. Carlson
Critique Of Money Judgment Part Three: Restraining Notices, David G. Carlson
Faculty Articles
New York is virtually unique in permitting lawyers to issue court orders restraining debtors and third parties from conveying away any assets that could be used to satisfy a money judgment. In effect, these orders command the recipient to do nothing, whereas a turnover or garnishment orders the recipient to do something — pay the creditor or sheriff or surrender illiquid property to the sheriff. The weakness and strength of this debt collection tool is assessed at length. The Article also analyzes in detail New York’s Exempt Income Protection Act, enacted in 2008 to force banks to protect the exempt …