Thanks for getting back to me. The approved settlement agreement does not make the judgment wrong, it simply prevents Mann Bracken from enforcing it.
It is important to note that a judgment is not self enforcing, it is simply a piece of paper that can be used by the judgment creditor
(in this case Mann Bracken) to go out and seek satisfaction through processes such as seizure of property and money.
Thus, a judgment can be on file and can be of utterly no effect because the judgment creditor is not seeking to enforce it. In this case, if Mann Bracken sought to enforce the judgment, it would be a breach of the settlement agreement, because enforcement of the judgment would be a collection activity arising out of the NAF arbitration.
Now, if Mann Bracken went and took an arbitration award and filed it with a court for entry of judgment
after the settlement agreement was filed, that would be a violation of the settlement agreement, but since the judgment was entered BEFORE the settlement, this is a collection activity that did not breach the agreement. Nevertheless, enforcement of that judgment by seeking to seize assets based on it would be a violation of the settlement agreement and could be prevented.
The interesting question to me is whether the judgment clouds any title on real property that you have in the county or otherwise affects your credit report
. Essentially, the settlement agreement is stating that any judgment would be unenforceable. Thus, if it is having an effect on you by the mere fact of its existence, then action needs to be taken.
As I write, one procedure comes to mind that I think could help you. You could file a Declaratory Judgment
Action in the district court of the county where the judgment is filed, asking for a declaration of your writes in regard to the federal court
settlement in connection to the judgment filed in the county, asking for the right to have a right to a judgment release filed Mann Bracken to extinguish the judgment.
This is a technical legal proceeding and I would not advise going forward on it without an attorney. Please let me know if this answers your question.