A more thorough explanation:

In Latin, “nulla bona” means “no goods.”

For example, if a person wins a lawsuit and is awarded a judgment against the defendant, they may seek to collect the money owed to them by seizing the defendant's property. However, if the sheriff returns a writ of execution on the judgment as "nulla bona," it means that there is no property within the jurisdiction that can be seized to satisfy the judgment.

This term is commonly used in legal proceedings to indicate that there are no assets available to satisfy a debt or judgment.