Law Office of Scott A Lucas

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Restraining Order
Special proceedings are relatively speedy and abbreviated (though not inexpensive) court proceedings sanctioned by Article 4 of the CPLR. A notice of petition, petition and answer, take the place of formal pleadings. The proceedings are commenced by way of order to show cause, particularly where a temporary restraining order ("TRO") is required in order to preserve the escrow funds, while the ultimate rights to relief are litigated. A TRO request, pursuant to CPLR 6313, would seek to restrain the bank from paying out the escrow funds to the judgment creditor. In order to secure the TRO, however, a bond must be filed with the order to show cause. Additionally, in order to have the bonding company waive a collateral deposit, the bonding company normally requires a copy of the title company’s certified financial statement or annual report to satisfy its underwriting requirements. Since the bond premium and the financial statement or annual report need to be delivered to the bonding company at least 24 to 48 hours before the TRO is requested, the application for the TRO bond should begin promptly.

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