Garnishee order: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson m (Added Lien to See also) |
imported>Doug Williamson m (Added category) |
||
Line 9: | Line 9: | ||
* [[Bad debts]] | * [[Bad debts]] | ||
* [[Lein]] | * [[Lein]] | ||
[[Category:Regulation_and_Law]] |
Revision as of 11:07, 25 January 2014
A court order that directs a person or entity who holds funds or assets for a debtor to withhold them from the debtor and release them to the debtor's creditor in order to pay off the debt.
For example, an order from a court forbidding a bank to release money that it holds in the account of one party for as long as that party owes money to a second party.
The second party obtains the garnishee order and the bank is the garnishee.