Q: Is there anything I can do about a bank that allowed an LLC account to be closed despite a granted Charging Order?
I obtained the interest in a one member owned LLC by Charging Order. The LLC contained tens of thousands of dollars, but the the bank disregarded the Order and allowed the member to close the bank account. The Order specifically stated my interest in the money within the account. The member no longer had authorization to remove any money only deposit. Is there anything I specific I can file with the court against the bank? Is the bank now responsible for the money removed and my judgment handed down in Superior Court?
A: Sue the bank and the member who gained access through the bank.
A: A common charging order issued against a Bank holding funds in a bank account of a judgment debtor can render the Bank liable when it allows the account to be depleted by anyone other than the Court or without the consent of the judgment creditor -- in this case, you. I have successfully collected the amount of funds a bank released to the judgment debtor directly from the bank after it received such an order. If I understand correctly, you received the charging order from an Arizona Court so I cannot stated with complete certainty that you can recover the money, but it is very likely that the law is similar or the same.
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