Legal Question in Credit and Debt Law in New York
An order to show cause granted but legal hold not released
A 3rd party has entered a judgment against us, however they were sending the summons to the wrong address. We didn't even know about the judgment until our bank accounts were frozen. We filed an order to show cause, and it was granted but now the bank is not only taking its time to release the funds but now is saying they might not until after the court date, which isn't for 3 weeks. Is the bank legally obligated to release the funds after the judge has granted an order to show cause?
2 Answers from Attorneys
Re: An order to show cause granted but legal hold not released
The bank is required to release the funds either when the judgment is vacated or an order directing the bank to release the funds. An order to show cause is simply a notice and a stay pending a final decision or order on the judgment.
Mike.
Re: An order to show cause granted but legal hold not released
What court date?
You said the order to show cause was granted.
Take both the order to show cause paperwork, and the order the court gave you,to the bank.
For some reason some banks need to see both before they will act.
If you would like to ask more specific questions send me an email.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
