Full title: Order Granting Expedited Relief and Authorizing Maintenance of the Debtor's Existing Cash Management System, Bank Accounts, and Check Stock. (Related Doc # 19) (Whitney MNB) (Entered: 01/14/2021)
Document posted on Jan 13, 2021 in the bankruptcy, 3 pages and 0 tables.
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MINNESOTA
Case No.: 21-30037
Tea Olive I, LLC d/b/a Stock+Field,
Chapter 11 Case
ORDER (I) GRANTING EXPEDITED RELEIF AND (II) AUTHORIZING
MAINTENANCE OF THE DEBTOR’S EXISTING CASH MANAGEMENT
SYSTEM, BANK ACCOUNTS, AND CHECK STOCK
This case came before the court on the Motion for Order (I) Granting Expedited Relief and (II)Authorizing Maintenance of the Debtor’s Existing Cash Management System, Bank Accounts,and Check Stock (the “Motion”) filed by the above-captioned debtor. Based on the Motion and the record,
IT IS HEREBY ORDERED:
1. The request for expedited relief is granted.
2. The Debtor is authorized, but not directed, to designate, maintain, and continue touse, with the same account numbers, the bank accounts identified on Exhibit A to the Motion (the “Bank Accounts”).
3. The Debtor is authorized, but not directed, to continue to maintain, operate, andmake transfers under its cash management system, as described more fully in the Motion.
4. The Debtor is authorized, but not directed, to use, in their present form, checks,credit cards, and other documents related to the Bank Accounts; provided, however, that the Debtor shall ensure that its checks state “Debtor-in-Possession” either by stamp or printed on the checks in accordance with the requirements of the office of the United States Trustee.
NOTICE OF ELECTRONIC ENTRY AND
5. The Debtor is authorized, but not directed, to treat the Bank Accounts for allpurposes as debtor-in-possession accounts.
6. The Debtor is authorized, but not directed, to continue to operate under itsagreement with First Data Corporation, which has since been acquired by Fiserv, Inc. (the “Credit Processing Agreement”), including, where required under the Credit Processing Agreement, to reimburse Fiserv, Inc. for returns and chargebacks, whether prepetition or postpetition, and to make deposits with Fiserv, Inc. to the extent provided for under the Credit Processing Agreement.
7. Each of the Debtor’s banks is authorized to debit the Bank Accounts in the ordinarycourse of business without the need for further order of this Court for: (i) all checks drawn on the Debtor’s accounts prior to the Filing Date which are cashed at such Bank’s counters or exchanged for cashier’s checks by the payees thereof so long as the Debtor has not given a specific instruction to stop payment on the check in question; (ii) all checks or other items deposited in one of the Bank Accounts prior to the Filing Date which have been dishonored or returned unpaid for any reason, together with any fees and costs in connection therewith, to the same extent the Debtor was responsible for such items prior to the Filing Date; and (iii) all undisputed prepetition amounts outstanding as of the date hereof, if any, owed to any bank as service charges for the maintenance of the Bank Accounts.
8. The Debtor’s banks may rely on the representations of the debtor with respect towhether any check or other payment order drawn or issued by the Debtor prior to the Filing Date should be honored pursuant to this or any other order of this Court, and such bank shall not have any liability to any party for relying on such representations by the Debtor as provided for in this order.
9. The existing deposit agreements between the debtor and its existing depository anddisbursement banks shall continue to govern the postpetition cash management relationship between the Debtor and the banks, and all of the provisions of such agreements, including, without limitation, the termination and fee provisions, shall remain in full force and effect, and either the Debtor or the banks may, without further order of this court, implement changes to the cash management systems and procedures in the ordinary course of business pursuant to terms of those certain existing deposit agreements, including, without limitation, the opening and closing of bank accounts.
10. Notwithstanding anything to the contrary contained herein, any payment made orto be made under this order, any authorization contained in this order, or any claim for which payment is authorized under this order, shall be subject to any orders of this court approving any use of cash collateral by the Debtor and the budget governing such use of cash collateral.
/e/ William J. Fisher
Dated: J anuary 14, 2021
William J. Fisher
United States Bankruptcy Judge