Financial Glossary what is garnishee


Garnishee

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/">debtor (the judgement debtor/">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/">debtor) from these funds.
Back to Home