judgment-proof

judgment-proof

Having no assets out of which a judgment may be satisfied. In some states, a judgment debtor may have substantial assets, but they are legally beyond the reach of creditors. In other states, judgments can remain liens against property for as long as 20 years.Today's judgment-proof debtor may be wealthy in 5 or 10 years and have assets that can be seized at that time.
References in periodicals archive ?
In the world of claims, we refer to such people as judgment-proof since they likely don't have the assets to pay even a portion of this verdict.
the result could be a default judgment against the Almeidas who seem to be doing all they can to be judgment-proof.
From a pure business perspective, if a company can immediately settle a patent infringement lawsuit for $50,000-$100,000, it makes no sense to spend eight to 10 times that amount just to get through summary judgment, especially against a judgment-proof patent troll.
Instead, the beneficiaries of the Swaffar Trust, Sandra Carol Swaffar and her daughters, Ashley Brook Swaffar and Rhonda Swaffar, discovered that Henry used the money to pay off his home in an attempt to make himself judgment-proof.
largely judgment-proof society, the cooperation clause in liability
Brafman said that even if Diallo wins her lawsuit, his client is 'virtually judgment-proof, because he has no real wealth.
asset-segregation does not completely judgment-proof a business, because
However, the former employee generally is judgment-proof, and once the trade secret is publicly disclosed it is no longer a trade secret and anyone can practice the technology.
Second, the paper discusses a consequence of the doctrine, which is the practice of corporate group parents arranging relations between companies so as to judgment-proof the major assets of the group.
Particularly, perhaps, where the settling defendant is shallow-pocketed or judgment-proof, and the defendant who's reluctant to settle happens to have a deep pocket.
Chapter 10 extends the previous analysis to consider, among other things, the problem of proving negligence, the judgment-proof problem, and vicarious liability.
An adverse effect of the (misplaced) prominence given the Rousey decision is the false impression that casual readers may take away that asset protection is a "silver bullet" game, in which use of a particular "commodity" technique renders a debtor judgment-proof.