Legal Question in Business Law in Georgia
Freezing Assets
How do you stop a creditor from attaching assets, including bank account, of a small S-Corp company?
2 Answers from Attorneys
Re: Freezing Assets
We know nothing about the case, the grounds for attachment, or anything else. Normally, satisfying the debt, or reaching an agreement to satisfy it, resolves the situation pretty quickly. Bankruptcy may stop it, perhaps temporarily.
Re: Freezing Assets
In addition, you cannot hide assets from creditors by transferring them out of the company without consideration, i.e. fair exchange.
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The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.
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