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Paul Porvaznik – Business Litigator

Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)

Tag Archives: restraining provisions

Defendant Bank Not Liable for Permitting Judgment Debtor to Transfer Over $700,000 from Accounts

The Citation to Discover Assets to a Third Party or “third-party citation”  allows a judgment creditor to serve a citation on a third-party –  a bank, for instance – who holds property of the judgment debtor and attach that property until the court orders the property released.  See 735 ILCS 5/2-1402(f)(1).  The third-party citation prohibits the citation …

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Posted byPaulPAugust 6, 2013February 5, 2015Posted inBusiness Torts, Creditor's Rights, Post-judgment - CollectionsTags: 2-1402, citation to discover assets, restraining provisions, supplementary proceedings, Supreme Court Rule 277, third-party5 Comments on Defendant Bank Not Liable for Permitting Judgment Debtor to Transfer Over $700,000 from Accounts
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