What is the 'Depository Trust Company - DTC'. The Depository Trust Company (DTC) is one of the world's largest securities depositories. The DTC, which was founded in 1973 and is based in New York City, is organized as a limited purpose trust company and provides safekeeping through electronic recordkeeping of securities balances.
To be prepetition property, the security interest must attach to the property. A security interest attaches to personal property upon satisfaction of three requirements: (1) the parties have an adequate security agreement, (2) the secured party gives value, and (3) the debtor has rights or the power to transfer rights in the personal property.
a security interest, it is important to understand the legal process if a creditor does not have. security interest (i.e., is unsecured). If the creditor makes an unsecured loan or extends. unsecured credit to a debtor, and the debtor defaults, then the creditor must commence an action. and obtain a judgment. After the judgment is obtained, the creditor cannot simply take the. debtor's property.