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To the Power of Human

Making Space for Reconciliation

Aug 9, 2019 |
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Client

A leading retail grocer

When a leading retail grocer closed their corporate office and outsourced most of their accounting functions, the Client had difficulty with the reconciliation of their claims. We assembled a team in our corporate office to reconcile and resolve over $900 million in claims, managed the claim payments and directed the orderly sale and wind down as plan administrator.

What We Did

  • Established a claims reconciliation team leveraging our corporate offices to act as the operating center.
  • Reconciled and resolved over $900 million in 503(b)(9), admin, secured and priority claims.
  • Prepared analysis and backup for preference actions.
  • Performed as Plan Administrator, responsible for distribution to creditors and winding down remaining assets.

Impact

  • Facilitated an estimated savings in excess of $1.5 million, by unbundling the reconciliation and resolution of 503(b)(9) and securing, priority and admin claims.
  • Negotiated directly with claimants to achieve significant savings, instead of fighting the claims in court.
  • Prepared a budget and implemented a plan for the monetizing of the debtor’s remaining assets, winding down of its affairs and final distribution to lenders.
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Client

A leading retail grocer

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