Business, Legal & Accounting Glossary
The recipient (typically a bank) to whom a garnishee order has been delivered.
A garnishee order is a court order instructing a bank that funds held on behalf of a debtor (the judgement debtor) should not be released until directed by the court. The order may also instruct the bank to pay a given sum to the judgement creditor (the person to whom a debt is owed by the judgement debtor) from these funds.
n. a person or entity, quite often a bank or employer, which receives a court order not to release funds held for or owed to a customer or employee, pending further order of the court.
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This glossary post was last updated: 28th April, 2020 | 0 Views.