JAYHAWK IN FOR A BIG TURNAROUND!
Carl Wescott, 40% owner of Jayhawk, now takes the reins! This guy
makes things happen. He has impeccable integrity and leadership
skills, and powerful contacts and ability. His day to day involvement in JACC is the single most bankable assett for JACC shareholders. He WILL turn this baby around, and anyone smart enough to get in at these bargan prices will surely be a happy camper!
JAYHAWK ACCEPTANCE CORPORATION ANNOUNCES CARL
WESTCOTT
Assumes Chairman Position
DALLAS, Feb. 10 /PRNewswire/ -- Jayhawk Acceptance Corporation
(Nasdaq: JACC) announced that Carl H. Westcott has been elected
chairman of the board and chief executive officer of the company, and
that, in accordance with its previously announced intention, the
company had filed a voluntary petition for reorganization under Chapter
11 of the U.S.
Bankruptcy Code in the United States Bankruptcy Court, Northern
District of Texas, Dallas Division. Westcott said, "I intend to devote
my full time and attention to the company's continuing operations."
Westcott also stated that the filing was necessary for the company to
adequately serve its dealers and preserve shareholders' equity.
Jayhawk Acceptance Corporation is a specialized financial services
company headquartered in Dallas, Texas.
SOURCE Jayhawk Acceptance Corporation
-0- 2/10/97 /CONTACT: Virginia L.
Cleveland of Jayhawk Acceptance Corporation, 972-663-1238/
(JACC)
CO: Jayhawk Acceptance Corporation ST: Texas IN: FIN SU: PER
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