Funds from interpleader action

[larsentjsj]

What is the name of your state (only U.S. law)? Florida
I sold my business some time ago. Funds were put in a trust with the law firm. These funds were supposed to come to me once all the taxes were taken care of. There were no back taxes. The business was disolved but the person that bought the business is now trying to get those funds. The law firm that I used has sent papers for interpleader. They can't represent me because I still owe them money. What do I need to do to make sure this shark buyer who just about stole the business from me in the first place doesn't get this money?

 

[tranquility]

Go to court on the interpleader and win completely.

 

[larsentjsj]

Not sure how the procedure works. That is my problem. I know that the attorney will file the papers with the court so that they will now have the money. And I am sure the buyer has an attorney and will know what to do.

 

[tranquility]

It's a court case usually filed by a person holding funds which do not belong to them. (Although the creditors can start one as well.) Say an insurance company knows there are liabilities on an accident out there which total $1 million. The policy was for $100,000. They know they have to pay the $100,000, but don't know who should get it so they start an interpleader for the $100,000 saying, in effect, "we know we owe the money, we just don't know to who." The court case then decides.

Same thing here. Someone has some money (the attorney) who knows that it's not completely theirs. They're thowing it out for a court to determine who gets what.

It's litigation and you need to get an attorney if you want to have a chance of making a valid argument. The attorney who's holding the money cannot be your attorney now as they're your party opponent. (Although, in reality, the other parties are the real opponent.)