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Attachment is a legal process by which a court of law, at the request of a creditor, designates specific property owned by the debtor to be transferred to the creditor, or sold for the benefit of the creditor. [1] A wide variety of legal mechanisms are employed by debtors to prevent the attachment of their assets.
A writ of attachment is a court order to "attach" or seize an asset. [1] It is issued by a court to a law enforcement officer or sheriff. The writ of attachment is issued in order to satisfy a judgment issued by the court.
A writ of attachment. In common law, a writ (Anglo-Saxon gewrit, Latin breve) [1] is a formal written order issued by a body with administrative or judicial jurisdiction; in modern usage, this body is generally a court.
Attachment (law), a means of collecting a legal judgment by levying on a specific property in the possession of the opposing party. Attachment of earnings, collecting money owed by a debtor directly from the debtor's employer
in English law, perfection has no defined statutory or judicial meaning, but academics have pressed the view that it refers to the attachment of the security interest to the underlying asset. Others have argued cogently that attachment is a separate legal concept, and that perfection refers to any steps required to ensure that the security ...
Attachment may extend to a co-defendant or a third party, and can include guarantors and alter egos of the original vessel owner. [16] [17] Where the underlying claim is subject to foreign law and will be litigated or arbitrated in a foreign proceeding, federal maritime law governs whether Rule B attachment will be applicable. [18]
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attachment, which are steps that link the security interest to the underlying asset; and, priority , which is an ordering of competing security interests in same asset. The same rule – the common law rule in Dearle v Hall , for instance – may govern both perfection against third parties (e.g., subsequent security holders) and prioritization ...