Quantcast
Home / News Stories / Ch. 13 stay violated by bank freeze (access required)

Ch. 13 stay violated by bank freeze (access required)

A bank that placed an "administrative freeze" on a debtor's checking account violated the automatic stay in bankruptcy and must pay the debtor punitive damages, the 4th U.S. Circuit Court of Appeals has ruled in a case of first impression. The decision has slapped down what has been a common practice for many banks and credit ...