I am a REAgent,owner of agency just filed chapter 11, will he be able to open new bank acct,issue me a commission check?HELP

You should have a bankruptcy attorney look at your paperwork to advise you as to whether your claim is eligible for payment at this time. Also, in some Chapter 11s the Debtor files a motion for authority to pay priority pre-bankruptcy claims of existing employees to keep them on board during the chapter 11. Your commission agreement is also going to be critical in determining your rights in funds received by the agency.

As a form of general information, in a Chapter 11 the Debtor is required to open what are called Debtor-In-Possession accounts (DIP Accounts) in an authorized bank. From these accounts the Debtor Agency can pay all ordinary course payment obligations of the business going forward. However, without court approval they may not be able to pay a commission earned before the bankruptcy filing as that would be a pre-petition obligation. The key is when the obligation to pay the commission arose, pre-bankruptcy or post-bankruptcy.
If the obligation for commissions arose pre-bankruptcy, it would be a prioriity claim up to the sum of $10,950 in accordance with Section 507(a)(4). That priority status will not assure early payment, but does put the claim in a high priority (above the IRS) when it comes time to pay the claims under a plan of reorganization.
Every claim must be evaluated on its own merits and, the condition and cash flow of the company in bankruptcy also must be reviewed to give you specific advise as to how to proceed.
Lyndel Anne Mason