Fraudulent Conveyance in Atlanta Georgia

A business owner had been sued for contract breach. The judgment named her business only. It was believed the business had the ability to pay the judgment but the judgment creditor (our client) was not getting any payments or response.Carl Mason P.I. was hired to determine the financial health of the business, locate banking relationships for levy, and identify other assets that could be seized.During the work, Carl Mason discovered there was another company using the same physical address as the business. Further research showed the newfound business was owned by the brother of the business owner.This new discovery eventually revealed that both companies were intermingling funds and assets had been transferred. A full report of the findings was presented by Carl Mason to our client.The attorneys representing our client went back to court. They were able to show the fraudulent conveyance and the judge added the newfound business, and both owners individually to the judgment.This put our client in the drivers seat. The judgment was soon after paid in full.—-What is Fraudulent Conveyance?A fraudulent conveyance, or fraudulent transfer, is an attempt to avoid debt by transferring money to another person or company. It is generally a civil, not a criminal matter, meaning that one cannot go to jail for it, but in some jurisdictions there is potential for criminal prosecution.[1] It is generally treated as a civil cause of action that arises in debtor/creditor relations, particularly with reference to insolvent debtors. The cause of action is typically brought by creditors or by bankruptcy trustees. Source: Wikipedia—This blog is intended to provide only a brief outline for our site visitors. You should always seek legal advise for your situation. Some of our posts are written by 3rd parties and may not reflect the position of Carl Mason P.I. and also may not be ideal guidance for your case. See our Terms and Conditions if you plan to hire Carl Mason P.I.