Sign Builders, Inc. v. SVI Themed Construction Solutions, Inc.

Illinois Appellate Court
Civil Court
Citation to Discover Assets
Citation
Case Number: 
2015 IL App (1st) 142212
Decision Date: 
Friday, March 27, 2015
District: 
1st Dist.
Division/County: 
Cook Co., 6th Div.
Holding: 
Affirmed.
Justice: 
HOFFMAN
Under Section 2-1402 of Code of Civil Procedure, once a judgment creditor serves judgment debtor with citation to discover assets, a judgment lien is perfected on assets of debtor which are not otherwise exempt under law. Competing claim to those assets by secured creditor will take priority over lien creditor only if secured creditor has perfected its lien. Lien creditor will prevail if lien attaches before security interest has been perfected. Intervening petitioners, who appealed from turnover order from Defendant in satisfaction of underlying judgment, failed to prove they had a secured, perfected interest in Defendant's funds held in bank under UCC.(HALL and LAMPKIN, concurring.)