If A Court Finds That A Debtor Committed A Fraudulent Conversion of Assets, Then What Can A Creditor Do?

Florida Statute Section 222.30 provides that in an action for relief against a fraudulent asset conversion, a creditor may obtain:

  • Avoidance of the fraudulent asset conversion to the extent necessary to satisfy the creditor’s claim.
  • An attachment or other provisional remedy against the asset converted in accordance with applicable law.
  • Subject to the applicable principles of equity and in accordance with applicable rules of civil procedure:
  • An injunction against further conversion by the debtor of the asset or of other property.
  • Any other relief the circumstances may require.

Florida Statute Sections (4) and (5) further provide that (4) If a creditor has obtained a judgment on a claim against the debtor, the creditor, if the court so orders, may levy execution on the asset converted or its proceeds, and (5) A cause of action with respect to a fraudulent asset conversion is extinguished unless an action is brought within four years after the fraudulent asset conversion was made.