ENFORCEMENT OF JUDGMENT
We have recognized that it is usually a major challenge for law firms to go beyond their offices and court rooms in search of properties to attach in the event that they obtain judgment on behalf of their clients, which judgment debt remains unpaid and still owing. Such clients are also unable to enforce such judgments on their own.
Experts Consult Ltd therefore proposes to take up the responsibility of executing all court judgments obtained by your entity as and when such cases are referred for the purpose of the above mentioned. As a result of our extensive debt recovery services, we have become experienced and successful in exclusive and dynamic methods of advanced recovery of debt which include, but not limited to, the following:
Tracing of Judgment debtors and their properties,
Investigations to ascertain ownership of assets located
Attaching properties for possible auction
Experts Consult Ltd has the requisite skill, experience and expertise in assisting in the Our one-stop-shop recovery service has achieved many successes in the general area of recovery and we pride ourselves in providing effective, efficient and ethical professional services.
2. SCOPE OF WORK
i. EXPERTS CONSULT LIMITED shall require a POWER OF ATTORNEY from your outfit to carry out the duties assigned to it.
ii. Experts Consult limited shall adhere to all applicable laws governing recovery and execution including all guidelines established by law.
iii. Experts Consult Limited shall from the date of an agreement commence a survey to ascertain the possibility of indentifying properties belonging to the Defendants/ Judgment/ Debtors for auctioning in the event that the judgment debt remains unpaid after attachment.
iv. The purpose of the survey shall be as follows:
a. Identify the existence of the Defendant/Judgment Debtors.
b. Ascertain whether there are properties to be attached in execution
c. Conduct a search to ascertain ownership of such properties.
d. Where equipment are involved, we shall ascertain the viability of sale of such equipments
v. The actions mentioned above will be executed within 60 days from the commencement.
vi. Experts Consult shall submit a report on the various accounts referred to it; this will include identified properties and the possibility of recovery of all or any part of the judgment debt.
Experts consult shall return all judgement account that could not be traced within 90 days from the date of referral.POST JUDGMENT INTEREST
i. Upon assumption of work, Experts Consult shall after the extensive survey, and upon locating the Judgment debtors serve each with a revised entry of judgment which shall indicate the post judgment interest accrued.
4. EXECUTION PROCESS
i. The execution processes such as Fifa’, Garnishee proceedings, appointment of receiver, etc. shall be done by the solicitors of Experts Consult or your entity if so agreed.
ii. Experts Consult Limited shall take full responsibility of the processes and ensure the successful recovery of your judgment debts if so agreed.
iii. Appointment of Auctioneer shall be done in Consultation with the Registrar and Your entity.
5. POST EXECUTION APPLICATIONS
i. Experts Consult shall continue with all post judgment and execution applications brought before the court until the final determination of such applications if so agreed.
i. All payment from judgment debtors shall be made directly to the Client or your entity.
ii. Experts Consult shall not negotiate to reduce amounts owed by judgment debtors in order to settle on any outstanding balance nor offer a waiver of any charge without the written approval of the client.