Since their verdict was announced, many have wondered what will happen if Amber Heard can’t pay Johnny Depp’s $10.35 million in damages and how much money she has now.
The trial for the case started in April 2022 and concluded in June 2022, where a seven-person jury consisting of five men and two women found Heard liable of all three counts of defamation in her lawsuit with Depp. The jury ordered Heard to pay Depp $10 million in compensatory damages and $5 million in punitive damages for a total of $15 million.
Virginia-based lawyer, Jeremiah Denton, explained to The New York Post that, while most insurance companies will pay for the defendant’s attorney, most policies have a clause that judgement costs—such as the $10.35 million Heard owes Depp—will not be covered. “The insurance company will keep in its back pocket the option of denying coverage at the end of the day — denying coverage means refusing to pay the plaintiff, in this case Mr. Depp,” Denton said.
“If she doesn’t have the money, then his avenue, while she’s pursuing an appeal, is to try to execute on property she owns,” Emmert said, adding that Depp could also serve her with a summons “where you summon the debtor to come to a court and his lawyer would get to ask her questions saying ‘What property do you own, what real estate do you own, what vehicles do you own, what jewelry do you own, what art collections’ — anything else that they could use to grab and sell at auction to try to pay...
Mark Breyer, an Arizona-based trial and personal injury lawyer, explained in a TikTok prior to Heard and Depp’s verdict that Heard may have to file for bankruptcy if she cannot pay the damages she owes Depp. “You can’t get blood from a turnip,” Breyer said. “That’s the reality. We don’t have debtors prison anymore. So what’s going to happen is he [Depp] could go after all the money she had, she would probably file for bankruptcy, but certain things would be protected in bankruptcy.
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Forbes - 🏆 394. / 53 Read more »
Source: VanityFair - 🏆 391. / 55 Read more »
Source: Mirror Celeb - 🏆 476. / 51 Read more »
Source: TMZ - 🏆 379. / 59 Read more »
Source: wjxt4 - 🏆 246. / 63 Read more »
Source: NewYorker - 🏆 90. / 67 Read more »