Have you obtained a favorable verdict in a Florida probate or civil court? Is the defendant failing to pay up? What tools can you use to collect a judgment in Palm Beach? How can a litigator help you to collect a judgment if the defendant has no money to pay it or refuses to pay? Do you or your attorney know how to pursue sanctions? You may want to take a look at a Fourth District Court of Appeal case, MYD Marine Distributor Inc. v. International Paint LTD.
Collecting a Judgment in Florida
- There is a common misconception about collecting a judgment after receiving a Florida jury verdict.
- Clients seem to think that, after a verdict is rendered, a sheriff goes and takes a check from the defendant no matter what.
- What happens when there is no money?
- The truth of the matter is that a tort or probate judgment is really an unsecured debt with a rather low priority.
- What happens if the defendant declares bankruptcy?
- Did you know that a Palm Beach bankruptcy court can discharge a judgment?
- What about when the defendant has the money but just will not pay?
- Florida probate lawyers are experienced in collecting judgments and know that it may be necessary to file liens, and for sanctions.
- Do you know what kind of sanctions you can pursue?
- How can a trust and estates attorney assist you?
MYD Marine Distributor Inc. v. International Paint LTD. and Donavan Marine, Inc.
- Here, Donavan prevailed in a lawsuit against MYD.
- MYD owed Donavan $550,000 in attorneys fees plus costs.
- MYD did not pay so Donavan moved to have MYD turnover certain intangible assets owned by MYD, including its right to pursue a legal action against Lauderdale Marine.
- Can Donavan move to take over rights to a pending lawsuit between MYD and a third party?
- Yes!
- Section 56.29, Florida Statutes (2015) permits seizure of rights in a pending lawsuit.
- To read the entire case, click here.