Protecting Assets From US Creditors

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Vor

Active Member
Say one were in the scenario of being sued by multiple debt collectors in the United States and is about to have default judgements entered against them what would be the best way to protect their assets. If you are also self employed and have bank accounts also in the EU. Would simply keeping the liquid cash in a business bank account in the EU be enough to protect it? payments from customers flow from EU processors to EU bank accounts.

Being self employed should prevent the ability to garnish so then the only real risk relates to bank account levy. If these judgements are won in US courts then the American accounts will be frozen but the European ones should remain untouched correct? They would need to win judgements in the EU country to levy those? Thanks for any insights guys.
 

OffshoreMonero

New member
Hello fellow Monero guy. :)

I think that the best defence is to structure your affairs in advance to thwart lawsuits. Either by remaining anonymous (best), making you impossible to locate (better), impossible to have your bank accounts frozen (ok), or very cost prohibitive to sue (typical).

Now, I'm not advocating illegal activity at all. The governments and banks have put us all in this position. Darks could be used to stay 100% anonymous. Various technologies can make your online footprint anonymous too. I'm sure you're aware of these tactics.

Now back you your question: As far as I'm aware they would need judgements in the EU country to levy those. They would have to hire a lawyer there (cost prohibitive). I am not a lawyer so if you want a solid answer you should seek the council of one. Good luck.
 
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bigdaddyleon

Active Member
an American title is not automatically enforceable in the EU, they would have to sue for it in the EU first.

It depends on your company construct.
a little more information would be helpful,

- you live where?
- how many debts?
 

CyprusLawyer101

Mentor Group Gold
An american judgement may not be directly enforceable in the EU, but this should not always neccesitate the commencement of claim procedure in EU courts from the beginning. Depending on bilateral treaties between nations there might be a procedure for registering a foreign judgment in another jurisdiction - a process that does not requiring re-proving your case. This obviously depends on the merits of each particular case and the particular laws and treaties of the jurisdictions involved. If you are truly interested to assess asset protection options from potential creditors, you should consult a lawyer first.
 
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