distraint


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distraint

noun annexation, appropriation, capture, confiscation, dispossession, distress, execution, expropriation, forcible seizure, impoundage, impoundment, levy, obtainment, securement, seizure and appropriation, seizure to procure satisfaction of a debt, sequestration
Associated concepts: distraint for rent, process of distraint
See also: attachment, condemnation, disseisin, distress, expropriation, foreclosure, garnishment, sequestration, taking

distraint

the seizing of goods or other property of another to pay debts, such as that of a landlord against a tenant.
References in periodicals archive ?
They staged the distraint on wobbling Redditch-based Creative Manufacturing and Creative Tooling at Oswestry four weeks before they finally threw in the towel and asked their bankers to put both into receivership, creditors have been told.
In contrast, Pinsent Masons says that there has been a corresponding rise in the use of distraint by HMRC.
They continued to refuse to pay taxes, submit to distraint, or permit the operation of courts.
We insist that the tax agency remove the distraint on our bank accounts so that we can buy raw materials for our products and thus get the workers paid," Atanasov reiterating a call that has been made by a number of union leaders in the past couple of years.
What is the difference between Distraint and Forfeiture?
A payment is also involuntary when the taxpayer has no immediate control over the source, such as payment made as a result of distraint action by the revenue officer or judicial action.
The decision came one day after the trade unions accused FIB of condemning the plant by placing distraint on its equipment, and threatened to stage rallies in front of the bank's headquarters in Sofia.
Mr Masters went on: "Often, a business will not communicate the issues properly to HM Revenue & Customs who are usually left with no other remedy but to pay personal visits, impose distraint actions or, ultimately, commence winding up proceedings.
One day after the trade unions accused FIB of condemning the complex by placing distraint on its equipment, the bank's management and the syndicalists met and reached an agreement on the differed repayments for all workers having loans from the bank.
Landlords may be able to get around the requirement by including a clause in rent demands which states clearly that distraint will be used in the case of late payment of rent.
The Romanian National Tax Administration Agency (ANAF) has levied a distraint on Nokia factories in the village of Jucu, Cluj region, reports Adevarul.
In addition, Stefanov announced the tax authorities will impose a distraint on Rashkov's assets for the duration of the check.