Court Auctions : Effective Processes and Enforcement Agents

This paper considers the historical origins and efficacy of enforcement of civil court judgments, with a special focus on court auctions. It reviews the procedural and practical options available to courts and associated agencies for the identification of assets that may be used to satisfy a judgment debt and the processes for court-supervised asset seizure and sale by public auction. The efficiencies of public court auction processes are considered, including the elements of enforcement systems that can produce sub-optimal returns on sold assets and higher incentives for corrupt practices. Also considered is the trend in some systems for greater use of private agents as a means by which the cost of court enforcement processes can be reduced and for overcoming sometimes lengthy delays in enforcement. The paper concludes by identifying alternatives to public auction that in some cases can offer better prospects of assuring full payment of a judgment debt.

Bibliographic Details

Main Author:	Gramckow, Heike
Language:	English en_US
Published:	World Bank, Washington, DC 2012-01
Subjects:	ACCESS TO CREDIT, ACCESS TO INFORMATION, ACCESS TO JUSTICE, ALTERNATIVE DISPUTE RESOLUTION, ASSET DISPOSITION, ASSETS, AUCTION PRICE, AUCTION PROCEDURES, BAILIFF, BAILIFFS, BALANCE DUE, BANK ACCOUNTS, BID, BIDS, BUSINESS CASE, BUSINESS INSOLVENCY, BUSINESS PRACTICE, CASE BACKLOGS, CASE OF DEFAULT, CASE OF NONPAYMENT, CLAIM, CLAIMANT, CLAIMANTS, CLIENT COUNTRIES, COLLATERAL, COLLATERAL IN SATISFACTION, COLLUSIVE BIDDING, COMMERCIAL DEBTS, COMMERCIAL DISPUTES, COMPENSATION, COMPETITIVE MARKET, CONSUMER PROTECTION, CONSUMER PROTECTION LAWS, CONSUMER PROTECTION LEGISLATION, COPYRIGHT CLEARANCE, COPYRIGHT CLEARANCE CENTER, CORRUPTION, COUNSEL, COURT, COURT DECISION, COURT DECISIONS, COURT INTERVENTION, COURT JUDGMENT, COURT JUDGMENTS, COURT ORDER, COURT ORDERS, COURT PROCESSES, COURT RULES, COURT SUPERVISION, COURT SYSTEMS, COURTS, CREDIBILITY, CREDIT SYSTEM, CREDITOR, CREDITOR RIGHTS, CREDITORS, CRIMINAL, CRIMINAL JUSTICE, CRIMINAL PUNISHMENT, CRIMINAL PUNISHMENTS, DAMAGES, DEBT, DEBT COLLECTION, DEBT COLLECTION PROCESSES, DEBTOR, DEBTOR'S PROPERTIES, DEBTOR'S PROPERTY, DEBTORS, DEPENDENT, DEPOSIT, DEVALUATION, DEVELOPING COUNTRIES, DISCOVERY, DISCRETIONARY POWER, DISCRETIONARY POWERS, ECONOMIC BENEFITS, ECONOMIC DEVELOPMENT, ECONOMIC LOSS, EMPOWERMENT, ENFORCEMENT MECHANISMS, ENFORCEMENT METHOD, ENFORCEMENT OF JUDGMENTS, ENFORCEMENT PROCEDURE, ENFORCEMENT PROCESS, ENFORCEMENT PROCESSES, ENFORCEMENT SYSTEM, ENFORCEMENT SYSTEMS, ENFORCEMENTS, EQUALITY, EQUIPMENT, ESTATE, EU, EXECUTIONS, FAIR MARKET VALUE, FAIR PRICE, FINANCIAL SITUATION, FORECLOSURE, FORECLOSURE SALES, HARMONIZATION, HOUSES, HUMAN RIGHTS, IMMOVABLE PROPERTY, IMPRISONMENT, INCOME, INSOLVENCY, INSOLVENCY LAWS, INSOLVENCY REFORMS, INSOLVENCY SYSTEMS, INSTITUTIONAL REFORM, INSURANCE, INSURANCE INDUSTRY, INTEREST OF CREDITORS, INTERESTED PARTIES, INTERNATIONAL BANK, INTERNATIONAL DEVELOPMENT, INVESTMENT OPTIONS, JUDGE, JUDGES, JUDGMENT, JUDGMENT CREDITOR, JUDGMENT DEBT, JUDGMENT DEBTOR, JUDICIAL AUCTIONS, JUDICIAL DECISION, JUDICIAL DECISIONS, JUDICIAL SALES, JUDICIAL SYSTEM, JUDICIARY, JURISDICTION, JURISDICTIONS, JUSTICE SYSTEM, JUSTICE SYSTEMS, JUVENILE JUSTICE, LACK OF ASSETS, LEGAL ENFORCEMENT, LEGAL ENTITIES, LEGAL FRAMEWORK, LEGAL HISTORY, LEGAL OBLIGATION, LEGAL PROCEEDINGS, LEGAL REQUIREMENTS, LEGAL STATUS, LENDER, LIABILITY, LIENS, LOAN, MAGISTRATES, MAJOR CREDITORS, MANDATE, MARKET CONDITIONS, MARKET ENVIRONMENT, MARKET VALUE, MONOPOLY, MORTGAGES, NONJUDICIAL ENFORCEMENT, NOTARIES, NOTARY, ORIGINAL CONTRACT, PARTICULAR COUNTRY, PERFORMANCE MEASURES, PERSONAL PROPERTY, PLEDGES, POLICE, PRICE FORMATION, PRIVATE AUCTIONS, PRIVATE DEBTS, PRIVATE ENFORCEMENT, PRIVATE LAW, PRIVATE SALES, PRIVATIZATION, PROPERTY RIGHTS, PUBLIC ADMINISTRATION, PUBLIC AUCTION, PUBLIC AUCTIONS, PUBLIC DEBT, PUBLIC ENFORCEMENT, PUBLIC SALES, PUBLIC UTILITIES, REAL ESTATE, REAL PROPERTY, RECEIVER, RECOVERY RATE, REFORM PROGRAMS, REGULATORY SYSTEM, REPOSSESSION, REPUTATIONS, RETURNS, RULE OF LAW, SALARY, SALE OF ASSETS, SALE OF PROPERTY, SANCTIONS, SAVINGS, SECURITY INTEREST, SEIZURE, SEIZURE OF ASSETS, SEIZURE OF PROPERTY, STATE COURTS, TAX, TITLE, TITLES, TRACK RECORD, TRANSPARENCY, TREASURY, TREATY, VALUATION, WARRANTS, WILL,
Online Access:	http://documents.worldbank.org/curated/en/2012/01/15826440/court-auctions-effective-processes-enforcement-agents https://hdl.handle.net/10986/18405
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