Satisfying Judgments Using Business Entities in Minnesota
A charging order is a tool that a creditor can use to try to satisfy a judgment of a debtor. The charging order is charged against a debtor’s interest in a partnership or LLC and attaches to the distributions the debtor would normally receive from the entity until the judgment is paid. The order will only give the creditor the financial rights, such as distributions of income or profits, the debtor owns in the entity. This means that the creditor will not gain any control of the business entity, instead […]