Chapter 19 Debtor Pre-Filing Checklist: Bank Issues

• Jurisdiction: United States

Chapter 19 Debtor Pre-Filing Checklist: Bank Issues

Note: This checklist addresses banking issues only and does not include other typical pre-bankruptcy activities such as reviewing leases and executory contracts, identifying assets for turnover, identifying potential voidable transfers, preparing cash-flow forecasts, etc. Consult bankruptcy professionals for a complete list.

[ ] 1. Obtain the company organization chart, and learn how the companies function together.

a. What does each company do?
b. Are any operational functions centralized?
c. Which companies have employees, own assets or have creditors?

[ ] 2. Learn how the company's cash-management system works.

a. Identify all accounts, where they are located, their types and any cash-management products attached to them.
b. Gather the debtor's deposit account, credit card and applicable treasury-management agreements.
c. Gather any applicable deposit account-control agreements.
d. Obtain or create a diagram of the cash-management system.

[ ] 3. Walk through the flow of funds, beginning with the accounts that are used to make payments, and work backwards. Flag potential issues such as:

a. How and when (day of week) is payroll funded/paid?
b. Are there collection accounts into which automated payments are made by

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