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Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 42671
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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The CBA is refusing access to my accounts, which are in

Customer Question

The CBA is refusing access to my accounts, which are in credit and I've no debts, by claiming I dodn't disclose expressly that I am acting as Trustee of the Trust although all documentation handed to the bank says property of the Trust. I filed a complaint
with FOS. Can I do anything else because I can't pay my bills as I don't have access to any accounts?
Submitted: 1 year ago.
Category: Australia Law
Expert:  Leon replied 1 year ago.

Good Morning

My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.

So the money belongs to a trust and not you?

Customer: replied 1 year ago.
its the trust's. And from all the documentation handed to the bank thats totally clear. On all documents it says property of the trust.
Expert:  Leon replied 1 year ago.

Good Morning,

Did you hand the documents to the bank when you opened the account?

Customer: replied 1 year ago.
Prior to opening the account
Expert:  Leon replied 1 year ago.

I have seen 2 other questions very similar. Did you post them saying that the money has come form overseas from shares?

If that is you then the issue is that until the funds are cleared by AUSTRAC to prove they are not from illegal gains the bank has to hold them.
Also the bank should have given you details of why they have frozen the accounts and asked you to provide more information.

The account, as you have provided them with the Trust Deed and also the details that you are trustee, should have been opened as a trust account. If the bank did not do that, they should now rectify it. But I cannot see how this would lead to you not having access as it can be rectified simply.

Customer: replied 1 year ago.
Nope the money is government payments for contracts done for the government.
The shares are nothing but shares held in a fund by the trust.
Customer: replied 1 year ago.
Can you please immediately start these proceedings. I want the FUND SHARES transferred into my Shares account rename it Wisro Trust account and do the agreed guaranteed buy back sale of 2.1 Million shares at AU$7.90 a share. Trust buys back after 6 mths at market price if higher than 7.90
Expert:  Leon replied 1 year ago.

Good Morning

I cannot start proceedings sorry to say.

Are you in Australia or the US?

You are going to have to speak to a Solicitor that practices in Banking Law. It appears to be a complex matter and they will need to see everything including the trust deed the documents that set up the account and details that the bank has provided you when they froze the account.

It may have to go to the Supreme Court for orders and if the bank is found to have acted inappropriately then they to pay you losses and costs.

Customer: replied 1 year ago.
Yess okk could you please recommend somebody I can contact directly? I'm currently in Germany and am stuck because of this
Expert:  Leon replied 1 year ago.

Is the account opened in Sydney?

Customer: replied 1 year ago.
Expert:  Leon replied 1 year ago.

Good Morning

You can search the law society website

Where is says Accredited Specialists select Commercial

the area put in sydney.

The link as as follows

https://www.lawsociety.com.au/community/findingalawyer/findalawyersearch/index.htm

It will give you the names of Solicitors that practice in that area and are accredited specialists

You can then email them directly

All the best

I hope this has been of assistance and if there is nothing further

thank you for using my services.

If I have missed anything, or you have any further questions please let me know

If there is anything else in the future please do not hesitate to ask.

Please do not forget to leave positive feedback.

Regards

Leon