This is the kind of foolishness that causes the purest of the purist to question continuing to bang their head against the wall and re-examine their options. The iron block situation is even worse for guys who need and want one. Are you listening Dart?

They changed the rules years ago, again why you don't get your checks back, and why banks now require so much info on an account holder ( under the cover of fighting terrorism?), because if a claw back occurs, the bank does not want to left with no recourse. You probably have many current banking friends that can verify this, don't think I favor it one bit. I think the general public confuses bank "holds" with checks clearing. Also if fraud is part of the bankruptcy, the 180 day limit is waived till whatever the statue of limitations are for the alleged crime.

This kind of filing occurs all the time - it work like this - Form NewCo with different shareholder structure - contribute non pledged assets to NewCo from OldCo - begin operation of NewCo. All debt and liabilities remain with Oldco - wait 6+ months file Chapter 11 on OldCo and force creditors to the table to either accept a debt cram down or force a chapter 7 liquidation of all the remaining listed assets. Worst case scenario the bankruptcy judge throws out the bankruptcy plan and off to court everybody goes – and I will tell you it’s a long way from the courts to the Bank when there are no assets remaining to cover a judgement. In the end nobody is made whole and in 8 years all is forgotten. Bankruptcy is nothing more than a tool of business survival.

In this case you had owner A who took deposits and didn't deliver any product for many years. Then owners B, C, D, and E buy into the company. Owner A then files bankruptcy. Owners B, C, D, and E then sue owner A. IMHO owners B, C, D, and E are glad to be rid of owner A and want nothing more than the name.

I think we have a winner here! last post is

Today's fun errand: write to any company "promising" to supply a new Whatzit in (whatever time span) whether the deposit, pre-pay, discount rate for early buyers, etc. is in escrow.
Probable response: [dial tone].
Possible responses: "what? (Buffy the-phone-girl isn't a lawyer)", "we don't release that information", "it's in the prospectus (500 pages of legalese)".
Doesn't mean they're not honest - IMHO very few mfg. begin by saying "how can we cheat our customers?".
But when faced with a choice of using your deposit to pay rent, operating expenses, their own salary, employee withholding they tend to exhibit "situational morality".
I don't know of any way to tell if the money is escrowed, and what the release terms are (judicial order? your signature?), unless they tell you.
Be warned.

Ken was a thief, pure and simple. No excuses for his actions. Nuff said.

Fixed

Be aware

li·bel
ˈlībəl/Submit
noun
1.
LAW
a published false statement that is damaging to a person's reputation; a written defamation

If you edit the above, I will also. I am not speaking to the truth, but in court you would need to be able to prove the above as a defense.

I didn't say Ken who, just said I know a Ken who is/was. BTW, who the hell are you?

If the courts were really interested in that sort of thing, almost the entire mainstream media (and most of Congress) would be in jail now.

Absolutely!

and completely idiotic how fast a thread gets derailed.

I have only been retired two years, but I am going to spare the others all the dead horse beating. In my opinion you don't have all your facts straight. Your opinion of my view is probably the same so let's just leave it there.

Doesn't matter who I am, I am not the one risking making libel statements.
I might also reconsider editing your quote,
Glad to help.

We could, but somebody is mistaken, and if it's me, I want to know. You sound like you have a better/faster back channel to get to the facts. That option being declined, I will dig further. My difficulty, when I submit this question, my gut feeling is those who really know, prefer not to have full disclosure, as keeping the public selectively uninformed is to the banking worlds advantage,
Just to be clear, the issue is, as I see it here, "is there a time limit as to how long a deposited check can be returned to the originator?".
I'll get right on it.

1st discovery subject to 60+15 day limits

What is the Purpose of Rule 9?
Forged and counterfeit items are sometimes recognized
by bank customers after the midnight return deadline.
Rule 9 allows the Paying bank to file a claim to recover
from a fraudulent item after the UCC midnight return
deadline. Rule 9 shifts responsibility, in some cases,
from the Paying bank (as assigned in UCC Article 4
(4-407 & 4-408) to the depositor when there are sufficient
funds in the depositor’s account.
Why Shift Responsibility?
Checks are no longer processed as in the past:
 Financial institutions (FIs) no longer verify signatures
on all checks.
 Checks are collected using digital images so the
Paying bank never sees the paper check.
 Items can be remotely deposited so even the
Depositary bank does not see the physical item.

I really don't have much input on that, it was some of the other statements I questioned.

Reg CC has to do with funds availability and could be of some interest. I think you are correct in that there are instances where a check can be returned past the normal deadlines.

This has gotten off topic from the original post and I accept some of the credit for that. You might want to start another thread if you want to post your findings.

you two fellas want to take it to pms? Please...

And all this has what to do with KB and chapter 11?

All I want is to be able to make a phone call, give someone a card number, tell them what I want and how I want it and have it delivered to me in a reasonable amount of time (days or maybe a few weeks, not months or years) without having to worry about getting ripped off, BSed, being involved in legal proceedings, having oil and/or water squirt out of it like a lawn sprinkler, having to fix pxxxpoor machining screw ups and on and on. I don't want to have to be educated on the finer points of bankruptcy law. I'm too old, and I have about zero tolerance for such bullxxxx, which happens when you get old.