Hop-On Inc (HPNN)

[PRmaniac]

bankruptcy is the only way they can write off the judgment or other debts. Preferred shareholders would be in line behind creditors for any assets left. Common shareholders usually would see nothing.

If a judgment lien is obtained by a creditor, in California, that is good for 10 years against the company or individual.
A creditor can also ask to have a judge require the creditor appear before him to explain why the judgment is not being paid, and to report on what real property the debtor owns and can be used to help satisfy the judgment. An individual can also be forced to turn over anything they have with them (cash, watch, etc.) at the hearing. Failure to appear for this type of hearing can result in a bench warrant being issued.