Civil Rights,
California Supreme Court,
9th U.S. Circuit Court of Appeals
Mar. 15, 2018
Judgment creditor not entitled to restitution on reversal
Essentially, by assuming the risk of taking possession, the judgment creditor cannot then ask for damages, despite running the company as would an "ordinarily prudent man of business would conduct his own."
Megan Lisa Jones
Email: megan.jones@withersworldwide.com
Loyola Law School
Megan is a tax attorney who specializes in estate and business planning. She was previously an investment banker at firms including Lazard Freres & Company.
In PSM Holding Corp. v. National Farm Corporation, 2018 DJDAR 2161 (March 7, 2018), the 9th U.S. Circuit Court of Appeals said a judgment creditor who takes possession of a judgment debtor's company while the matter is on appeal cannot be awarded restitution for losses incurred while in possession of the company. Essentially, by assuming the risk of taking possession, the judgment creditor cannot then ask for damages, despite running the co...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In