The Digital Sherpa Lifts The Veil of Asset Protection

June 24, 2011

Debt3 May/June 2011

By David J. Cook

How can the internet identify the liable party, describe its status and offer up new remedies? You are a self-selecting audience. What does this mean to you?

Read the full article here.

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The Defendant Has Not Written You the Check, Now What?

December 16, 2010

Originally published in The Federal Lawyer, February 2010. Reprinted with permission. Copyright The Federal Lawyer.

By David J. Cook

This article provides a field manual for dealing with a defendant or judgment debtor who fraudulently conveys assets in the face of a high dollar judgment.

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The Morning After – A Romp Through Asset Protection

December 16, 2010

Commercial Law League of America – The Free Press – Volume 6, Summer 2010

By David J. Cook

This article will survey common asset protection schemes prosecuted by a judgment debtor who face a substantial judgment and decline payment. In the face of post judgment remedies, the judgment debtor will transform assets by retitling the assets in the name of a surrogate entity but retain beneficial use. Asset protection strategies increase the expense of enforcement and drive away most creditors who decline to invest capital in unwinding complex or difficult transfers and abandon enforcement altogether. “Creditors have great difficulty in obtaining control over these assets because often times it is cost prohibitive for the creditor to domesticate the U.S. Judgment in the foreign jurisdiction. As a result, these creditors will often settle their claims for just a few pennies on the dollar.” 1 Asset protection diminishes the value of the judgment, and absent the most stout hearted and well heeled, most creditors would settle for a pittance than finance and face the rigors of year of post judgment fraudulent conveyance litigation.

This article is written in two parts: First what are basic asset protection strategies how to find assets, and second, how to unwind the transfers and achieve recompense.

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Lifting the Veil of Asset Protection: Strategies to Uncover Hidden and Secreted Assets Through the Development of Tent Pole Jurisdiction

December 16, 2010

Financial Fraud Law Report Volume 2 Number 9,  October 2010

By David J. Cook

This article is the judgment creditor’s roadmap to recompense.  This article focuses on, in particular, the California state court remedies available to a judgment creditor to ferret out information that will reveal the assets of a judgment debtor and thereby enable the judgment creditor to reach those assets in the process of satisfying the judgment, but many of the concepts discussed here are, of course, applicable across the country.

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Contract Terms As Asset Protection

December 16, 2010

DEBT3, Vol. 25, Issue No. 6, November/December 2010

By David J. Cook

An in-depth analysis of common contractural terms through the prism of hyper-expedited enforcement.

This article discusses how the drafter might inadvertently render the contract “sue and attachment proof,” favoring the buyer of product and probable debtor. The article also explains and explores contractual asset
protection fostered by the creditor (perfectly legal). The debtor will say, “Why commit a fraudulent conveyance, when I can hide behind the creditor’s own contract?

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