Legal Question in Credit and Debt Law in Massachusetts
cival
what is a trustee process to obtain funds?
1 Answer from Attorneys
Re: cival
Trustee Process is a procedure for attaching funds of an individual or company held for their benefit in a bank, a stock or mutual fund, etc. The "Trustee" is the bank/fund holding the money for the person/company who owns it. If the court allows the attachment as a form of prejudgment security, the bank/fund is served with an attachment order, requiring the bank to freeze the assets and hold them from the rightful owner pending resolution by the court of the dispute to satisfy a judgment in favor of the party who got the attachment.
If your funds have been attached (or are about to be) by Trustee Process, you are in a tight spot. In order to attach, the court needs to be convinced you will most likely lose the dispute. In other words, you may never get access to the frozen funds again. If there has not yet been a hearing (and usually they are within a couple of days from the filing of the motion), you need to hire an attorney to do everything possible to avoid the attachment. Since they are very difficult to get, an attorney would greatly increase your chances of defeating the attachment. Contact me if you need help. This is serious business.