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I was in an Arbitration suit against my Ex lawyer in NY, He

was awarded 70% of the...
I was in an Arbitration suit against my Ex lawyer in NY, He was awarded 70% of the original amount. Can he attach or come after me in a different state?? Can he attach a business I am part owner in??
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Answered in 31 minutes by:
1/4/2012
Law Educator, Esq.
Category: Business Law
Satisfied Customers: 121,087
Experience: All corporate law, including non-profits and charitable fraternal organizations.
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He would have to file a petition to confirm the arbitration award in the supreme court and then he would be able to file a motion to garnish/seize bank accounts and he can seize your interests in any business you own, he cannot seize the business only any profits or money you would receive from the business.


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Customer reply replied 6 years ago
Could you clarify a little more on the process of this??
1) He would have to file a petition to confirm the arbitration award in the supreme court...Do I have recourse with this? I requested a trial with the arbitrators, unfortunately, I filed a week to late due to me living in PA. The mail came to a NY address (step mother) I contacted the ARB Board & they stated it was too late.

2) file a motion to garnish/seize bank accounts and he can seize your interests in any business you own,......What exactly does this mean? I stated I have interest in the business, It is in fact MY Business(corp). How/Who determines Assets,inventory, or otherwise?? What can be done to isolate & protect myself?

3) he cannot seize the business only any profits or money you would receive from the business, How is this determined and executed??
1) You can answer that petition/suit and even file a counter suit to vacate the arbitration award (but realize that arbitration awards are only vacated if you can prove they were obtained by fraud or they are contrary to the law and for pretty much no other reasons, even where the arbitrator may have mistaken facts). If you filed late, this is not going to generally be sufficient grounds to get it vacated.

2/3) You cannot transfer any assets now, it is too late and the court would recover it under the Fraudulent Transfer Act. When it comes to seizing the business, the court would issue an order seizing whatever actual interest you have in the business (not inventory etc) but whatever your normal proceeds from the business would be would be seized. So if you normally get, for example, $4000 per month from the business as your share, that is what they will seize so the business has to pay it to the plaintiff.
Law Educator, Esq.
Category: Business Law
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Experience: All corporate law, including non-profits and charitable fraternal organizations.
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