In some cases, completing your trial and getting a favorable verdict and an award of damages is the end of the line. In other cases, securing a judgment is just one step among many in obtaining the final outcome you need. Your situation may dictate that you have to take one or even multiple legal actions in order to get the money that the trial court said you were owed. These situations illustrate the importance of having experienced Florida commercial litigation counsel who can help you at every step required to get the compensation owed to you.
A recent case from South Florida is an example of a scenario in which the award of damages was not the “end of the road.” The owner of a fast-foot restaurant chain and an ice cream brand had sued a Panamanian corporation in Panama and won, with the court awarding damages to the plaintiff. In seeking to collect on its judgment, the plaintiff engaged in further investigation and discovered that a third party held, in a bank account in Miami, more than $13 million in funds. The significance of this entity and its bank account was that, allegedly, that third party owed the defendant $13 million.
Since the money allegedly was owed to the defendant, and the defendant owed the plaintiff payment of the damages award, the plaintiff served a writ of garnishment on the bank. The writ of garnishment is the tool that allows you, as the creditor, to seize money owed to you by a defendant, even though that money is held by a third party. Sometimes, these writs can be used to seize from an employer the wages of an employee who owes a court-ordered obligation or payment. Other times, it can be used in situations like this.