Legal Question in Banking Law in New Jersey

lost check

We deposited a personal check (Canadian check in US fund $48,000) with the teller at our bank on 12/28/2006. It was shown as a deposit on our monthly statement. Then the deposit was withdrew and the bank said that the money was withdrawn because it was sent to 'foreign collections'. By this time it was late Jan. and no one knew how long it would take. Later on 2/07 the Banker left a message (message still saved) on my cell phone & said the teller misplace the Canadian check as an US check, and finally the manager (3/07) admitted the bank lost the check and is still looking for the check.

The payee is not willing to cancel check / stop payment nor re-issue a

new check. The check was a tax gift for 2006. So issuing a new check this year will not work for the 2006 tax year.

The bank has the check image but the bank in Canada only honor

actual check.

The funds have been deposited and

withdrawn without our notice at their will. Only when we check

our accounts online that we are aware their actions.

We ask if the manager can issue a letter explaining the reasons for the numerous withdraws and deposits but their legal department says no.

What is the banks responsibility? What can we do?


Asked on 3/27/07, 9:43 pm

1 Answer from Attorneys
John Corbett Corbett Law Firm LLC

Re: lost check

I once read a great book for managers titled "Are Your Headlights On?" It had a chapter on "Whose Problem Is It?" the gist of which was that nothing ever gets done unless it becomes a problem or opportunity)for the guy who has the power to solve it. This is a situation where that lesson is valuable.

Make this your bank's problem. It's their fault. They have the power and connections to solve your problem. No one else in the picture does. They need motivation. Get a lawyer. File suit or act as if you are on the verge of doing so. They will become motivated to solve the problem for you. If they do not or cannot, the discovery process will certainly flesh out a solution.

My firm handles matters of this type. If I can be of further help to you, call or email.

See also: http://info.corbettlaw.net/lawguru.htm

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Answered on 3/27/07, 10:05 pm


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