What’s The Time Limit To Convert An Arbitration Award To A Judgment In NY?

You only have a year to do that. Since arbitration is an expedited process, you get a relatively short period to confirm the award in New York. Confirming the arbitration award has a 12-month statute of limitations. And the clock starts ticking the date of the arbitrator’s final determination, not the date of the arbitration award.

While confirming the award sounds simple and straightforward, there can be bumps in the road. Make certain not to drive into a pothole, causing damage beyond repair that prevents you from confirming your award on time. Continue reading “What’s The Time Limit To Convert An Arbitration Award To A Judgment In NY?”

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Paying Personal Expenses From A Corporate Account?

If you are paying personal expenses from a corporate account, you may be liable for corporate debt.

Some business owners can’t help but get in their own way. For example, take the business owner who rings up debt and uses corporate assets to pay personal expenses. They believe that status as a corporation shields them from personal liability for corporate debts.

And let’s say that you recovered a judgment against a corporation. As a judgment creditor in New York, you can subpoena their financial institution records and more. By subpoenaing the corporate bank records, you can see checks issued from the corporate account. Continue reading “Paying Personal Expenses From A Corporate Account?”

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I Want My Judgment to Become a Lien on Property in New York.

Do you have an out of state Judgment or a Judgment that was entered in New York? If so, you will want to lien property owned by a Judgment debtor. This article addresses how your Judgment can become a lien on property in New York.

Putting a lien on property belonging to your Judgment debtor is one of the best tools to help get you paid. Do not miss the opportunity to lien property.

Since New York does not have a statewide lien, a Judgment is not necessarily an automatic lien on property in New York. Deliberate steps must be taken for your Judgment to become a lien. Continue reading “I Want My Judgment to Become a Lien on Property in New York.”

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