Forbes: Registered Agent’s Mistake Leads To Liability Of Zions For Failure To Honor A Levy In Bergstrom (May 9, 2022)

Forbes has published an article, “Registered Agent’s Mistake Leads To Liability Of Zions For Failure To Honor A Levy In Bergstrom”, which discusses Bergstrom v. Zions Bancorp.. The article begins as follows:

In 2007, a Nevada court entered a $2.1 million judgment against Robert S. Michaels and a company called Northamerican Sureties, Ltd. That same year, the judgment was assigned to Crystal Bergstrom, who I have personally known for many years and who is widely regarded as one of the very best non-attorney judgment enforcers in California if not nationwide. By April of 2019, interest on the judgment had grown it to a little more than $4 million, by which time Bergstrom had figured out that Michaels’ wife, Cheryl Pitcock, held two accounts in the Los Angeles branch of Zions Bancorporation, with one account holding $117,372.35 and the other holding $638.62. Under California law, which follows a community property regime, the community property held by a debtor’s spouse (Pitcock) is available to satisfy a judgment against the debtor (Michaels).

Click here to see the full article: “Registered Agent’s Mistake Leads To Liability Of Zions For Failure To Honor A Levy In Bergstrom”.

Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.

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