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 identifica...
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2012/01/15826440/court-auctions-effective-processes-enforcement-agents http://hdl.handle.net/10986/18405 |
| Summary: | 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. |
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