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Category Archives: Judgments
Collecting a Judgment Against the Founder of a Startup
Savvy creditors can employ various strategies to enforce judgments and collect on debts. Our next several posts highlight real-world scenarios, each of which illustrates a different technique that can be used to enforce judgments. The first example involves a creditor that obtained a judgment against…
Four Types of Constructive Fraud Claims
Several sections of New York’s Debtor and Creditor Law (“DCL”), which govern similar but distinct claims of constructive fraud, provide redress to creditors for various scenarios in which debtors conceal, move, or unlawfully distribute assets which could otherwise be used to satisfy a judgment. DCL…
Has Fraud Been Committed, Inadvertently?
Companies or individual debtors can commit fraud inadvertently, all while doing business (or living life) as usual. This is known as “constructive fraud,” a type of voidable transaction whereby a debtor’s transfer of assets is considered fraudulent to a creditor even though the debtor did…
All the Best Intentions: Inadvertent Voidable Transactions
Most claims for voidable transactions fall under what’s known as constructive fraud. In a constructive fraud, a debtor or third party can be held liable for fraudulent conduct even though the offending party did not intend to defraud the creditor. This typically occurs when a…
What Is a Turnover Proceeding?
Enforcing a judgment is largely a procedural endeavor. When a judgment is entered, the law bestows upon the creditor certain procedural powers that can be used not only against the debtor, but against people and entities associated with the debtor as well. One tool in…
What to Do When a Debtor’s Assets Are Tied Up in a Corporation
Shareholders of startups and closely held corporations often tie their livelihoods to the success of the company. In many cases, these shareholders may not take a salary or any distributions from the company, giving judgment debtors fewer avenues to collect. When a debtor has no…
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