Bankruptcy
Jul. 25, 2014
Another roadblock to effective collection
A recently enacted regulation has effectively bottled up collection activity and given defendants another avenue to avoid collection. By James R. Felton, Robert Weinberg and Tiffany Frank
You have just obtained a large judgment against an individual defendant, have obtained a writ of execution, and have opened up a file with a levying officer to levy on an account at a major federal bank. You have confirmed that the defendant has tens of thousands of dollars in its account and is about to hear those words that no defendant ever wants to hear - "your account has been levied." Well, don...
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