Debt recovery / enforcement procedures
When a good court decision is not sufficient, MOSAIK accompanies its clients with their debt recovery after obtaining an enforceable title.
The firm is involved both before and after litigation as follows:
- By carrying out interlocutory seizures, in particular, on debtors’ bank accounts, in order to secure the recovery of funds, upon obtaining the enforceable title;
- By effectively implementing compulsory enforcement measures of conducive court decisions obtained by the firm.
Various protective measures exist:
- the preventive seizure: measure enabling the creditor, who does not yet have an enforceable title, to proceed with a seizure on a moveable asset or on the bank accounts, as a preventive measure
- sequestration: intentional protective measure enabling a moveable/immoveable asset to be rendered temporarily unavailable
- cash consignment: measure enabling an amount of money to be issued to a third party, to be kept by such third party throughout the procedure
- the designation of an administrator: measure used to designate a third party in charge of managing assets (assets, company, etc.)
- the seizure of cash or moveable items held by a third party (for example, in a bank’s possession or that of a lessee).
- provisional mortgage: measure to create a security interest on property to enable the recuperation of a fraction of the price in the event of sale.
MOSAIK may implement any of these protective measures, depending on the specificity of each file, and a strategy and analysis are carried out beforehand with the client.
Being aware that obtaining a successful court decision is not the end of the file, quite to the contrary, the firm undertakes to use all the appropriate resources necessary for the enforcement of court decisions and debt recovery.
Accordingly, the following questions should be asked:
- Does the debtor have assets?
- Which ones?
- If its bank accounts do not have sufficient funds, how can I get my money back?
- Can I use means of pressure to force a payment even although the debtor does not have the necessary cash flow?
- Do I have an interest to start insolvency proceedings?
Like the protective measures, there are numerous and varied compulsory enforcement measures and the firm accompanies its clients for each of them:
- Attachment: seizure of an amount of money on one or several bank accounts;
- Seizure-sale: sale of an asset belonging to a debtor to pay-off the creditor;
- Definitive judicial security mortgage;
- Seizure of remunerations: if the debtor is an employee;
MOSAIK effectively accompanies its clients for each of these compulsory enforcement measures. The firm shall accompany you after obtaining a successful court decision.