While there are nuances and some exceptions to it, the general rule is that only “final” orders are appealable. If a trial court’s order is final, the losing party can appeal it. If the order isn’t final – meaning, the case is still going on – the losing party can’t appeal it. Whether an order is final …
Tag Archives: citation to discover assets
Debtor’s (Non-Spousal) Inherited IRA Not Exempt from Civil Judgment – IL First District Rules
Case: In re Marriage of Xenakis, 2015 IL App (1st) 141297 Fact Snapshot: The judgment debtor successfully moved to discharge citations issued to the custodian of an individual retirement account (IRA) he inherited from his deceased mother. The judgment creditor appealed, arguing that the IRA wasn’t properly exempt from the judgment’s reach. Result: The First District …
Uniform Fraudulent Transfer Act: Actual Fraud, Constructive Fraud and Transfers for Insufficient Value: IL Law Basics
The Illinois Fraudulent Transfer Act (“FTA”) – 740 ILCS 160/1 et seq. – is a powerful creditor enforcement tool aimed at capturing assets transferred by a judgment debtor to elude a money judgment. In United Central Bank v. Sindhu, 2014 WL 3748555, the bank obtained a $4.3M judgment against the defendant. After initiating various citations to discover assets, …