BarnettGarcia are experienced in turning sister state and Federal judgments into Texas judgments. The Texas Uniform Enforcement of Foreign Judgments Act provides for the recognition of judgments from other territories, states and federal courts in the United States. Once domesticated, a sister state or Federal judgment can be collected like any other Texas judgment. Our experience includes the identification and location of persons or entities obligated to a judgment creditor along with their assets. Once assets are located, BarnettGarcia, can upon request, perform an analysis of whether the asset can be levied and sold to satisfy a judgment, including reviewing any encumbrances that may exist as a result of any IRS, ad valorem, state tax, UCC or judgement liens.
Our firm utilizes a number of post judgement remedies including post judgment depositions, writs of execution, turnover receiverships, bank garnishments, lien foreclosures and fraudulent transfer litigation. Additionally, our attorneys are experienced in liquidating encumbered and unencumbered assets of debtors to satisfy judgement creditors.
POST JUDGMENT RECEIVER
Matt Garcia serves as a post judgment receiver for Travis County. A turnover receivership is a post judgment tool in which a receiver is appointed by the Court to capture any assets owned by a debtor and to liquidate them for our benefit pursuant to . Texas Civil Practice and Remedies Code Section 31.002. The purpose of the Turnover Statute is to aid the diligent judgment creditor. If the liquidation results in more money than what is owed under the judgment, the receiver's fee of 25% is taxed to the Debtor and the Creditor recovers 100% of the judgment. If the liquidation results in insufficient money to satisfy the judgment, the Creditor and the Receiver share in the proceeds but the judgment is only reduced by the amount the Creditor collects.