Small Claims - Asset Turnover

[msw235]

I received a judgment in small claims court in Illinois against a contractor who had his company set up as an Illinois S-corp. During the Citation to Discover Assets, I found that the only property of value left in the company is a van that the company used for business purposes. I have a motion to turnover the asset filed with the court that will be heard next week.

The van still has an auto loan balance outstanding, but the estimated fair market value of the van exceeds the amount of the loan. Clearly the bank loan will have to be satisfied first and any proceeds then transferred to me.

My question is since the bank holds the title on the vehicle, can I ask the court to turnover the asset to me and have the vehicle sold via the sheriff's auction process? I was told the sheriff does not seize property that has an outstanding lien. If that is the case, what are my other options? Can the judge order the loan be assigned to me? Can the judge force the liquidation of the asset in another way? Or does the bank take back the vehicle? Since there is positive equity value in the vehicle, that last option is the least desirable as I am assuming the bank will sell for just enough to get the loan balance covered and not worry about anything else.

Any guidance would be appreciated.

he can order an immediate liquidation with all equity (if any) to be given you