Critique of Money Judgment Part Three: Restraining Notices

150 Pages Posted: 24 Oct 2015

See all articles by David Gray Carlson

David Gray Carlson

Yeshiva University - Benjamin N. Cardozo School of Law

Date Written: October 24, 2015

Abstract

New York is virtually unique in permitting lawyers to issue court orders restraining debtors and third parties from conveying away any assets that could be used to satisfy a money judgment. In effect, these orders command the recipient to do nothing, whereas a turnover or garnishment orders the recipient to do something — pay the creditor or sheriff or surrender illiquid property to the sheriff. The weakness and strength of this debt collection tool is assessed at length. The Article also analyzes in detail New York’s Exempt Income Protection Act, enacted in 2008 to force banks to protect the exempt bank accounts of social security recipients.

Keywords: debts, debt collection, civil procedure, turnover order, garnishment

Suggested Citation

Carlson, David Gray, Critique of Money Judgment Part Three: Restraining Notices (October 24, 2015). Albany Law Review, Vol. 77, 2014, pp. 1489-1637, Cardozo Legal Studies Research Paper No. 465, Available at SSRN: https://ssrn.com/abstract=2679304

David Gray Carlson (Contact Author)

Yeshiva University - Benjamin N. Cardozo School of Law ( email )

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New York, NY 10003
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212-790-0205 (Fax)

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