That's what I'm worried about..Luckily however it is a judgement against two individuals, not the company they own as they signed the relevant contracts before they had formed a company. All court correspondence refers to the two individuals. They are not on sw (AFAIK) and run a successful business (well, it's successful enough for them to have taken on an employee some months back!). They have assets in the company (equipment, no premises) and they both own their own homes (afaik).Yes, you are right the sheriff is a waste of time. All that happens is he will go out to the debtor and ask him for the money. The debtor will say "I don't have it" and off the sheriff goes and you get no money.
Personally speaking, selling the debt after judgement could be a bad move esp if the debtor is on social welfare/ or has a very low income. Also unless there is a REAL chance of them paying up the debt agency will be unwilling to buy. Your best best is not to sell but to use the agency to try to recover the money.
How do you know that he does not have loads of other debts and judgements already? If he does you will be at the back of the queue and are likely to recover very little.
Unless this guy has a 500k house knocking around you could be on a hiding to nothing.
Hmmm, what's to say what assets are owned by them though? They had at least some assets purchased before the limited company came into being, so would those assets not be their personal property? Is it up to them to prove that asset x belongs to the company or up to us to prove it belongs to Mr. Y and Mr. Z?You won't be able to touch the assets of their company as it is not the company you are suing. So sending the sheriff will be a pointless endeavour.
That sounds eminently sensible. Is that done in a seperate court procedure or is it a formality once a circuit court judgement is made in my favour?Your best course of action would be to register the judgement against their properties, this will prevent them selling or re-mortgaging it until you are paid.
Ah you have to love this country and its laws which always seem to favour the wrongdoer.Other than that you are looking at applying to the district court for an instalment order against them. Best you could hope for is €100 per week. And of course if they produce evidence that they can't pay because of sick children etc you won't be awarded very much. It is not unknown for orders for as little as €10 a month to be awarded. If that happened you would be stuffed.
Thanks for those bond. It's because the outlook is bleak that I wondered would ot not be better just to sell the entire debt and be rid of it. When the alternative is a tenner a week it seems a no-brainer to me.
Yes that burden will be on you. No doubt they moved all these assets to the company upon formation for a nominal amount, €1. In any event the sheriff will not be interested as he cannot remove tools of trade regardless of ownership. I have found that the sheriff is very inefficient when it comes to collecting money.Hmmm, what's to say what assets are owned by them though? They had at least some assets purchased before the limited company came into being, so would those assets not be their personal property? Is it up to them to prove that asset x belongs to the company or up to us to prove it belongs to Mr. Y and Mr. Z?
It is a formality once you have the judgement. You get a solicitor to do a land registry search on the two debtors and the solicitor applies the judgement to any property that they own in their own names or in joint names.That sounds eminently sensible. Is that done in a separate court procedure or is it a formality once a circuit court judgement is made in my favour?
Indeed, if you get a €1 million judgement in the High Court you will be forced to go to the local district court to enforce it. As said earlier you could end up getting a tenner a week.Interesting that you revert to the district court for installment orders, regardless of the judgement court.
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