Third party accounts. The lawyers' third
party account is a current account every lawyer needs to receive
funds from clients or third parties to pass them on to other
parties later. Thanks to this account he can make a clear
distinction between his own and third party funds.
Account under management. This is an
account opened to the name of a person placed under interim
administration by the court. It is the empowered interim
administrator who requests the opening of this account.
Debt negotiation account. The lawyer
acting as debt negotiator collects the income of a person coping
with a burden of debt. He distributes the income among the
different creditors and the debtor.
The bankruptcy account is a sub-account
for the receiver to deposit all recovered funds from a bankruptcy.
These funds remain on the account until they are distributed among
the creditors.
Consignment account. Is opened to the
name of two or more lawyers representing their respective clients
that are entangled in legal proceedings with each other. The
provisional funds are deposited to this account awaiting the
decision of the court, which will adjudge them to one of both
parties.
Case account. Opened upon request of a
lawyer in the course of a court case, to deposit funds in relation
to the case in question. This account has a limited duration by
definition.
