1. Can anything be done to reactivate the company’s bank account?

You may apply to the Court to grant an order to reactivate the company’s bank account. The Court will only grant such order if it will be beneficial to the company and its secured creditors.

The application is made by summons (a demand for the relevant parties in the proceedings to attend court hearing) with an affirmation (a supporting document which is made on oath) explaining why an order to reactivate the company’s account is beneficial and also the facts relied upon. The Court will hear the application.

You are advised to seek assistance from a lawyer if you have to make such an application.