Is it legal to not only freeze a corporate bank account but have the bank actually withdraw the funds and hold them?

Is there not some way to unfreeze some of the monies for living expenses, payroll and other necesities.

Also if the judgement comes up in our favor is the monies realease right away or is there a waiting period.

Thanks

KAMDAK

[QUOTE=kamdak16]Is it legal to not only freeze a corporate bank account but have the bank actually withdraw the funds and hold them?

Is there not some way to unfreeze some of the monies for living expenses, payroll and other necesities.

Also if the judgement comes up in our favor is the monies realease right away or is there a waiting period.



Just a couple of questions - who is the Judgment against? I don't understand how the funds are withdrawn if the Judgment has still not "come up."

Are you talking a corporation or a doing/business/as arrangement?

Corporate debt or individual debt?

I have a small company I filed my defense and it was accepted at the court house (they definitely took my money) and a couple of hours later it was rejected.

At the point they believed I had not filed a defense and a judgement was awarded. The next day I filed an emergency motion and went before a judge and as that was happening all the money was removed from the corporate account... leaving staff, rent everything unpaid.

At the court hearing because I didn't know what I was doing was remanded to Nov 15. I have a dismissal clause (item 24 of the law) because I have a signed affidavit from a sub-contractor (that was given the claim) that I didn't receive it in time for the 20 days... the judge wouldn't even look at it.

Because this is corporation to corporation I am using a friend as a lawyer (but from Quebec) so he doesn't know Ontario law very well... but I can't afford 300.00 hour...

Didn't realize you are in Canada - have absolutely no knowledge of Canadian Law. (Sounds like a mess. Hope you get it all worked out.)

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Originally Posted by JudyKayTee

Didn't realize you are in Canada - have absolutely no knowledge of Canadian Law. (Sounds like a mess. Hope you get it all worked out.)

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Thanks anyway, do you know of any sites in Canada like this one?

There are some Canadians here who may be able to help. Give them a chance to spot the question.

If I follow you, you received a summons, responded that you wanted to defend against it, but somehow that was lost and a default judgement was awarded and used to freeze your accounts.

You should be able to get the judgement vacated and the funds unfrozen on the grounds that you had filed to mount a defense.

No, sorry, but I don't - but somewhere reading this site might be in Canada and might respond.