The reach of litigation or arbitration extends not only as a way to reconcile gross misconducts or breaches of contract, but also stands as a critical pathway for businesses striving to be compensated duly. Nevertheless, it has been a customary observation that acquiring a judgment or award is merely the initiation of the overall process to bring things into alignment, according to an article on law.com.
A judgement debt can prove to be quite taxing on businesses both in terms of time and monetary expenses. It is not uncommon for businesses to remain entangled in a process spanning several years even after receiving a judgement, only to realize they’ve reached the mid-way mark. The exhausting ordeal might persist for another few years before they’re finally able to extract the payment from their opponent.
Interestingly, as per the observation made by Burford Capital’s London head, there is a rising trend in attempts to recover judgement debts. Rather than those who are financially incapable, the increase is seen against opposition that decide against paying purposefully.