Questions & Answers
Inability to pay a cheque amount after the issuance of an execution writ order
Dear sir/madam,
My question relates to the new rules regarding the possibility of filing for "cheque execution" with the court.
What happens if, after the Execution Writ Order from the court, the person (issuer of the cheque) is not financially capable of paying the cheque amount nor does not have any assets (movable or immovable) to cover the amount of the cheque?
What will the consequences be in such an instance?
Dear questioner,
Good day!
Kindly be informed that if the cheque was issued in the company's name, then the following actions can be taken by the plaintiff against the company:
- Blocking the license.
- Confiscation of assets (movable and immovable).
- Arrest/travel ban of the manager, etc.
If the cheque was issued in an individual capacity and there are no assets available to attach, then the counterparty can request for imposing a travel ban & arrest of the defaulter.
For further assistance, kindly contact us via phone or email.
Best Regards,
