Charging Orders And Asset Seizure In Queensland

Article Summary

A Queensland money judgment does not transfer the debtor’s assets to the creditor or compel payment by itself. If the debt remains unpaid, the creditor must choose an enforcement procedure suited to an asset the debtor actually owns.

An enforcement warrant for seizure and sale can reach non-exempt real and personal property in which the debtor has a legal or beneficial interest. The enforcement officer may seize and sell the property, with the net proceeds applied to the judgment debt. A charging order is narrower.

It is available only from the Supreme Court and may charge specified investment property, including shares, bonds, debentures, marketable securities, annuities and interests in managed investment schemes. It prevents the debtor and, once served, the issuer or administrator from dealing with the charged property, but it does not produce an immediate sale.