Legal Question in Credit and Debt Law in New York
Recovery on Decree
I am holding a Decree against a resident of NY, Decree is granted by a Court in India to the tune of nearly US $ 1 million, is it possible to execute the same in US. If yes, how and what would be the cost involved. Decree is based on a document executed by the NY gentleman in NY and sent to India to act as a Gurantor for a borrowing in India, by an Indian Company.
2 Answers from Attorneys
Re: Recovery on Decree
You would first need to domesticate the Indian judgment. There is a process in New York for recognition of foreign judgments. Then you need to execute on the judgment. Neither of these steps is simnple to accomplish, and it's certainly not something you want to handle without an attorney, especially given the size of the judgment. Feel free to contact me directly if you wish to discuss the matter further.
This post is not legal advice and does not create an attorney-client relationship. It is a comment on the legal question posed by the poster and should not be relied upon unless and until an attorney-client relationship is entered into.
Re: Recovery on Decree
This is a typical collection problem with the minor extra step of 'certifying the foreign judgment'.
The legal system of India is well respected here in the United States and there will be no problem certifying the judgment here in the United States.
Collections is always an interesting process. each one is a little different. But, if the debtor has assets here in the United States, then the judgment can be enforced and the money collected.
You are welcome to a consultation for no fee.