Introduction

[1] The question of law in the present case involves an interplay of the law of execution of judgment and the law of insolvency. A judgment creditor has to tread with prudence and care as to whether he/she wants to initiate bankruptcy proceeding first before he/she applies for garnishment or writ of execution against the judgment debtor's assets.

[2] A plaintiff who obtains a court judgment against a defendant becomes a judgment creditor by virtue of the court judgment, but that by itself does not make the plaintiff a secured creditor vis-à-vis any of the assets or properties of the defendant-judgment debtor.

[3] A judgment creditor who relies solely upon the court judgment remains an unsecured credit