Bank cannot freeze client’s account at subsidiary absent court order
April 11th, 2011 | By Michael Binetti | Posted in Commercial Litigation, Debtor-Creditor and Banking Litigation
In the case of Royal Bank of Canada v. Ankur Rastogi[1] , the Ontario Court of Appeal held that RBC could not freeze the accounts of its client at its subsidiary, RBC Direct Investing, pending the determination of its lawsuit against the client. It further held that funds being held by another financial institution pursuant [...]
In the case of Royal Bank of Canada v. Ankur Rastogi[1] , the Ontario Court of Appeal held that RBC could not freeze the accounts of its client at its subsidiary, RBC Direct Investing, pending the determination of its lawsuit against the client. It further held that funds being held by another financial institution pursuant [...]