Selling a Judgment Debt

Iurista

Hi,

Can anyone advise if they have come across a situation of a bank selling a High Court judgement to an asset servicing business and the latter then seeking to change the parties to the proceedings under O.17 R.4 of the SCR in order to be in a position to enforce the judgement for their benefit:

4. Where by reason of death or any other event occurring after the commencement of a cause or matter and causing a change or transmission of interest or liability, or by reason of any person interested coming into existence after the commencement of the cause or matter, it becomes necessary or desirable that any person not already a party should be made a party, or that any person already a party should be made a party in another capacity, an order that the proceedings shall be carried on between the continuing parties, and such new party or parties, may be obtained ex parte on application to the Court upon an allegation of such change, or transmission of interest or liability, or of such person interested having come into existence.

My understanding is that the asset servicing business would seek to rely on the phrase "transmission of interest" in rule 4 above as pertaining to the sale of the judgement.

1. Is a judgement capable of being sold in the first instance (as opposed to selling a chose in action)?
2. Is a judgement the end of the original proceedings between the parties? or
3. Can one argue that after an Order for final judgement, the proceedings can be "carried on between the continuing parties and such new party" by seeking to enforce the judgement?
4. If the answer to 1 & 3 above is in the affirmative, can the purchaser enforce the judgement by means of an application to the Court under the above Order?
5. Has the High Court granted such relief in the past?

Many thanks for any help.

Quorom

I do not believe a third party can be added to judgment as they are joining proceedings and now seeking to enforce the judgment obtained by the second party on the first party.

Mr. Incognito

These are not answers you will get on an online forum. Go to a solicitors