Opinion
Civil Action No. 06-5430 (NLH).
August 5, 2008
Gregory J. Coffey, Esquire, Coffey Associates, Counselors at Law, Morristown, NJ, Attorney for Plaintiffs.
ORDER
This matter having come before the Court on plaintiffs' motion to enforce the judgment and freeze the assets of defendants; and
On October 4, 2007, the Court having entered a judgment of default against defendants in favor of plaintiffs in the amount of $268,370.41 (Canadian dollars) for compensatory damages and $59,043.63 (Canadian dollars) in interest; and
Plaintiffs now requesting that the Court freeze defendants' assets pursuant to Federal Civil Procedure Rule 62; but
The Court noting that Rule 62 concerns a court's power to stay proceedings to enforce a judgment, and it does not address a court's power to freeze the assets of a defendant which has a default judgment entered against it;
The Court notes that one method for enforcing a judgment and freezing a judgment debtor's assets is to file a writ of execution with the Clerk of the Court and then file a motion for the turn-over of funds following the successful execution of the writ.
Therefore,
IT IS HEREBY on this 5th day of August, 2008
ORDERED that plaintiffs' motion to enforce the judgment and freeze the assets of defendants [12] is DENIED.