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paid into court

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paid into court adj. referring to money deposited with the clerk of the court by a person or entity who knows that the money is owed but does not know to whom he/she should pay it pending the outcome of a lawsuit between two other parties is decided. In short, the party handing over the money is saying: "Here is the money. You two argue over it, but spare me the trouble and cost of the suit." Example: A contractor buys supplies from a hardware store on credit. The store is owned by two people who have dissolved their partnership and are fighting over who owns accounts receivable, including the funds owed by the contractor. The contractor knows he owes the money for his supplies, wants to meet his obligations, and wants to get rid of the debt. So the contractor gives what he thinks he owes the hardware store to the court to hold while the two former partners settle their differences. (See: interpleader)



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Ms Justice Mary Irvine paid tribute to Ms O'Dowd, from Lismore, Co Waterford, for ensuring the money would be paid into court for the use of Helen's daughter Clara, 14.
Michael Gordon of the Court of Appeal of the Eastern Caribbean Supreme Court acknowledged concerns about the "provenance of" the US$40 million security deposit paid into court by IPOC.
If he gives the go-ahead, the money would be paid into court and would only be handed over if the youths were cleared.
 
 
 
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