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Go Back   Law Forums at Onlypunjab.com > BANKRUPTCY AND CONSUMER CREDIT > Business Bankruptcy

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  #1  
Old 05-20-2006, 06:25 AM
Nick Nick is offline
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Join Date: May 2006
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Default accounts seized!

hello all,
I work at a company which is in Chapter 11 Bankruptcy. we sold our building to pay the mortgage on the property etc. and we are very close to the end. but last week, the bank, which we have the mortgage with, seized our bank account without any notice.
Does the bank have the right to take the money that was clearly meant for somebody else?
Any advice would be greatly appreciated!
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Old 05-20-2006, 06:29 AM
advisor advisor is offline
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Join Date: Apr 2006
Posts: 371
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you can make an appeal with the court stating all this. hopefully, the bankruptcy judge might order the accounts to be unfrozen so that the debtor's business can continue to be operated in ordinary course.
good luck!
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