If my a bank seizure is made

September 12th, 2008 by Questions

If my a bank seizure is made when I am in the process of filing gor bankruptcy & the funds are frozen however have not yet been seized, what happens to the funds when the bankruptcy kicks in, do I get this back or would this be lost?

Posted from: Quebec


One Response to “If my a bank seizure is made”

, Barton Goth - Goth & Company Inc. - Bankruptcy Trustees said:

If the money is simply frozen then the filing of a bankruptcy will immediately effect the Stay of Proceedings which will release the hold. However, the bank will not know this unless you inform your trustee so they can send a copy of the Stay of Proceedings directly to a contact at your bank.

If they have seized the money from the account and this is done prior to the filing of a bankruptcy there is nothing that can be done.

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