Kirk Adams : Hi - my name is XXXXX XXXXX I'm a Bankruptcy litigation attorney. Thanks for your question. I'll be glad to assist.
Kirk Adams : The claim would belong to the trustee, but, you should be entitled to sue for the actual amount, any accrued interest and any damages you can prove the delay/refusal to pay caused you. Also, attorney's fees should be possible.
Kirk Adams : If the bank's refusal is in bad faith, there could also be damages for that, but it would depend on whether or not that could be proven.
Kirk Adams : Any money recovered would be used by the trustee to pay your creditors, and if there was any left over, then you could recover those funds from the trustee.
Kirk Adams : Thanks for allowing me to assist you, and if you have any other questions, please do not hesitate to ask.
I would like to know if l am able to prove all damages would it be fair that I would receive treble amount in which the interest acrued in 10 years is100, 000 which would mean a recovery of 600, 000 settlement?
Kirk Adams : Treble damages are only allowed in situations where there is a statutory provision or legislation that provides for it given some action by the defendant.
Kirk Adams : Thus, its very unlikely that treble damages would be available. Instead, you'd likely be looking at the actual damages, related expenses, and collateral damage. You/the trustee certainly ca sue for punitive damages to make an example out of the bank IF it acted in bad faith or fraudulently, but that is a very difficult thing to achieve as well.
Kirk Adams : Thanks for allowing me to assist you, and if you need anything further, please don't hesitate to ask.