Can I place a lien on stockholders' property for my losses?

Full question:

I built a network of banks in Africa to support a debit card that was provided by a company in Dallas, TX. Unknown to me the card company was operating without a Money Services Business Licence however it had been very adamant with it's agent's (that's me) that it was operating completely in compliance with all FINCEN regulations. Card support was interrupted 3 years ago because of complications between the card company, the government, and it's shareholders and officers. Of course my investment, potential earnings and assets have been lost as a result. During this time the principals have continuously proclaimed that the service would be restored but they have been unable to find bank support. I think mainly because they still declare that they do not need a license to operate. I have found a bank and processor willing to support my network but I need the card management software to build a website to complete the package. The principals refuse to discuss any arrangement with me. It is my desire to place a lien on the principle stockholders personal property for a claim against my actual and accumulated losses.

• Category: Judgment Liens
• Date: 04/07/2025
• State: Indiana

Answer:

If you obtain a court judgment against the stockholders for your losses, you may be able to place a lien on their personal property. A judgment lien is created when a court grants a creditor an interest in the debtor's property based on an unpaid court judgment. To file a judgment lien, you must first win a lawsuit and obtain a judgment. If the judgment remains unpaid, you can ask the court to place a lien on the debtor's property, such as bank accounts or real estate, to secure payment.

Once you have a judgment, you can enforce it by selling the attached property to satisfy the debt. To create a valid lien, you must have ownership or a right to the property, and the lien should arise from an agreement, whether express or implied. In certain cases, if the debt is not paid, you may be able to foreclose on the property.

For your legal dispute, consider reviewing contract law and breach of contract actions. A breach occurs when one party fails to fulfill their contractual duties, causing economic damage to the other party. Remedies for breach of contract include money damages, restitution, rescission, reformation, and specific performance. Money damages compensate for financial losses, while restitution aims to restore the injured party to their prior position. Rescission cancels the contract, and reformation allows courts to modify the contract to correct inequities.

Specific performance compels a party to fulfill their contractual obligations when monetary damages are insufficient. Additionally, promissory estoppel may apply if one party relied on a promise from the other, leading to unfairness if the promise is not enforced.

For more specific legal advice, you may want to consult with a licensed attorney.