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Deborah Awyzio
Deborah Awyzio, Solicitor
Category: Australia Law
Satisfied Customers: 863
Experience:  Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
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I owned 2 art galleries with ex partner. They have just

Customer Question

Hi, I owned 2 art galleries with ex partner. They have just been split so we got one each.
Problem: Merchant banking had to be put in sole trader instead of partnership. Apparently its their policy not to give me my funds for between 5-10 days. Im desperated for these funds which were sold via credit cards mainly (nearly $14,000.00!) and its been 9 days. I cant pay my staff and pay bills because ANZ merchants are witholding my funds! I have also applied for biz credit card which I have yet to receive also. So I have no money coming in ... Please help! Linda
Submitted: 2 years ago.
Category: Australia Law
Expert:  James D. Ford replied 2 years ago.
Hi Linda Is the policy between 5-10 business days? (1 or 2 weeks) which would mean up to 14 elapsed days!! longer if there are public holidays, etc. When you say 9 days, do you mean 9 business days, or 9 elapsed days? Have you complained to the ANZ about the delay? please advise? Do you have approval for the business credit card? Have they advised when it will arrive? It is possible to obtain short term sources of funds, but they are expensive. It sounds like you should get the funds soon, but you need to be in contact with the ANZ to try and obtain a definite timeframe. Is your ex-partner in the same situation? Kind regards, James