Debtor Financial Institution Judgment Enforcement 
FFGN COLLECT NY
NOVEMBER 4, 2021
Assume you are a creditor and have a civil judgment entered in one of the counties of the Civil Court of the City of New York for $10,000. You have knowledge of the debtor’s financial institution and so your attorney issues an information subpoena with a restraining notice to the financial institution to see if any funds are being held.
FFGN COLLECT NY
MARCH 25, 2024
So that once a restraining notice is prepared, someone could go to the bank or other financial institution, etc., Turnover of the funds, restrained or frozen, depends upon whether the judgment debtor is the sole owner of the account, the balance in the account, and the source of the funds. Seizing personal property Ms.
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FFGN COLLECT NY
SEPTEMBER 23, 2022
Attempts to restrain bank accounts or seize other assets within the state, require a separate action: a new distinct lawsuit against the bank or other institutions where you believe the debtor has assets. If you were wrong, the bank or other institution is entitled to costs and possible legal fees.
FFGN COLLECT NY
JUNE 3, 2020
Is garnishing PPP or CARES Act funds an option for satisfying outstanding monies owed to judgment creditors? Although New York has liberal laws on judgment enforcement, CPLR Sect 5222-a provides a laundry list of funds exempt from creditors’ reach. The funds, although earmarked for payroll, were not exempt.
FFGN COLLECT NY
MARCH 25, 2024
Once a restraining notice is prepared, someone could go to the bank or other financial institution and serve the restraining notice in person. Turnover of the funds, restrained or frozen, depends upon whether the judgment debtor is the sole owner of the account, the balance in the account, and the source of the funds.
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