After a Virginia jury awarded Depp $10.4 million in compensatory and punitive damages for defamation, the “Pirates of the Caribbean” actor has a wide spectrum of options to collect that money from his ex-wife over the coming months and years, according to legal experts who spoke with TheWrap on condition of anonymity because of their proximity to the situation.
But first things first: Heard has said she will appeal the verdict — and that she can’t afford to pay the penalty. If an appeals court agrees the defamation case was mismanaged in any way, the result could be altered or thrown out. And if Heard truly doesn’t have the assets to cover the bill, the former couple could tangle for several years, or even decades, to reach a settlement.
Collection laws are a bit different in each state, but the outline of the process is essentially the same across jurisdictions: After a brief waiting period (usually 30 days after the judgment is mailed), Depp has the right to start the collection process, providing any appeal has expired or been rejected.
And he has a wide spectrum of options, according to the legal experts.
The most likely, lawyers say, is a private settlement for something significantly less than $10.4 million. “This happens in 90% of debt-collection matters,” one Los Angeles-based defamation lawyer told TheWrap.
Depp could forgive Heard entirely, making her pay a symbolic $1. He could simply charge her for his legal fees or design any amount that satisfies his side — $3 million, $5 million, whatever he fancies.
And since Heard won a $2 million judgment of her own in her counterclaim against Depp, the starting point of negotiation is really something more like $8.4 million. Team Depp and Team Heard could also mutually agree on an amount she could pay right away, or a payment plan — but that would ultimately be Depp’s call. Depp has repeatedly said the purpose of his lawsuit was to clear his name and legacy for his children and career, and he seems well on his way to doing that. But the open vitriol between Depp and Heard leaves open the possibility of something much more aggressive.
Option 2: Depp sells his judgment to a collector
It’s a common practice to sell judgments to collection companies for pennies on the dollar and would be an attractive option for Depp if he wants to be paid right away while still punishing Heard.
Depp could liquidate his judgment to a financial firm — traditionally in the neighborhood of 10 cents on the dollar, give or take — giving that company the right to settle with Heard or work to collect the full amount.
Though not the most potentially lucrative option for Depp, it could be his cleanest off-ramp: Depp gets a fast check and puts the matter behind him, while Heard struggles with a collection agency for some indeterminate amount of money and time.
Option 3: Heard pays the full amount voluntarily
Moving on…
Option 4: Scorched earth
If Depp wants to turn the financial screws on his ex-wife, who accused him of numerous heinous abusive acts the jury of five men and two women ultimately didn’t believe, he has several paths forward (again, barring a successful appeal or settlement). All of them require him to do the work, however.
The first step is to locate Heard’s assets — bank accounts, properties, vehicles, personal property, earnings statements — and “attach” the judgment via state courts. The case was tried in Virginia — and it’s a little more complicated to involve assets from another state, requiring legal cooperation between jurisdictions. But it’s doable.
Thus would begin the process of liquidation and foreclosure, enforced by the courts. Furthermore, if Depp decides to go after Heard’s future earnings, he could also compel the state where she’s working to garnish some or all of her wages. That means taking a cut of her salary on “Aquaman” sequels or any other projects she might line up. To read more click here.