Post Petition


Post Petition: Services Overview

The post petition phase or "bankruptcy case" begins once voluntary petitions and first day pleadings have been filed in federal bankruptcy court.  Phase Eleven offers administrative support to all issues which arise during the course of a chapter 11 case and have provided the following list of common services offered for reference:

§  Business Operations

§  Case Administration

§  Claims Processing

§  Data Organization  

§  Diligence Support        

§  Noticing

§  Schedules and Statements

§  Solicitation

    

Post Petition: Business Operations Services Overview

During chapter 11, a company will go through operational restructuring efforts to increase cash reserves, dispose of burdensome assets or contracts and restructure operations through careful creditor management.  Business operation restructuring includes, but is not limited to:  

Phase Eleven will provide comprehensive administrative services involved with the collection, processing, reporting, and warehousing of supporting data, filed pleadings and executed agreements for all business operation case efforts. 

Post Petition: Case Administration Services Overview

Case administration in chapter 11 is all about dedicated attention to organizational detail. Every court communication, document, or pleading exchanged or filed can generate action items, completion deadlines and compliance requirements which case professionals and the debtor company are responsible for during the course of a case.

Phase Eleven will apply the same case administration organizational methods and standards which earned the founder accolades, outstanding reviews, promotion and recommendations to your chapter 11 case by:

  • Review of bankruptcy code, court ordered, objection and transactional deadlines
  • Response to company and creditor communications
  • Update of contact information
  • Response to creditor inquiries
  • Assistance with U.S. Trustee requirements
  • Provide case status updates
  • Group filed pleadings

Post Petition: Claims Processing and Resolution Overview

In non-prepackaged chapter 11 cases, a claims process is established to provide creditors an opportunity to assert a claim against one or more of the companies in chapter 11 bankruptcy.  The claims process involves substantial administrative efforts to execute and will run through the remainder of the case. 

Phase Eleven will leverage our claims processing and resolution expertise and database technology to the fullest extent to ensure accurate, comprehensive and responsive claims processing.  We will respond to creditor inquiries and process claims transfer requests through our Relational Restructuring Database.  Phase Eleven will provide general services including, but not limited to:

  1. Preparation and mailing of customized proof of claim forms to creditors
  2. Intake, recording and reporting of returned completed claims
  3. Administrative assistance with analysis and approval or objection of claims

Post Petition: Data Organization and Reference Overview

Over the course of time during a chapter 11 case, a creditor's history of interaction with the case professionls, court and the debtors increase.  A single creditor, depending on their relationship with the debtor company, may receive and respond to hundreds of documents.  Multiplied by tens of thousands of creditors, all receiving and replying to different pleadings at different times, calls for strong database organization.

We will utilize our custom built Relational Restructuring Database to comprehensively record, track, report and provide access to case professionals and creditors alike of all events which occur over the course of a chapter 11 case.    We will use our Relational Restructuring Database to interrelate case events, court entries, creditors, pleadings and professionals to provide a comprehensive record for reference in response to all restructuring issues.    

Post Petition: Diligence Support Overview 

During the course of the chapter 11, attorneys, advisors and the company may determine it is in the best interest to sell assets or may need to respond to adversarial litigation which arises out of the filing of the case. 

Phase Eleven consultants will work with case professionals and the company to respond to asset sale and litigation restructuring issues such as:

Phase Eleven consultants will leverage their chapter 11 training and Relational Restructuring Database to provide comprehensive organization, reporting and response to all diligence issues which arise during the course of a case.

Post Petition: Noticing Overview

Pleadings filed with the federal bankruptcy court must be sent or "served" on certain creditors and groups of people involved with the chapter 11 case.  Service of either the entire pleading or a portion of a pleading is accomplished through a variety of methods: email, fax, messenger, overnight courier and U.S. Mail.

Phase Eleven will execute service of multiple notices to thousands of creditors and coordinate publication of some of these notices with careful attention to detail, commitment of proper people power resources and a robust computer database which can orchestrate noticing needs including, but not limited to:

  • Comprehensive service of process fulfillment
  • Return to sender and creditor inquiry follow up
  • Historical creditor notification tracking
  • Online access and customized reporting

Post Petition: Schedules and Statements Overview

Non-prepackaged chapter 11 debtors are required to prepare and file schedules of assets and liabilities and statements of financial affairs with the bankruptcy court, which represent each debtor company's financial position at the time of filing for chapter 11 protection.

Preparation of the schedules and statements requires chapter 11 experience, knowledge and project management skills, abilities and methods to work in concert with the debtor companies for an on-time court filing. 

Phase Eleven's schedules preparation team pursues aggressive and consistent project management, leveraging technology, precedent and people for the quick preparation of accurate and comprehensive schedules and statements.

Phase Eleven's leading edge database technology will allow for rapid secure online review and reporting of schedules and statements in:

  • The preparation and post filing reconciliation phases for cross-reference against future filed proofs of claim
  • The preparation and filing of ad-hoc schedule amendments

Post Petition: Solicitation Overview 

Companies must "solicit" acceptance of a proposed plan of reorganization, utilizing court approved ballot materials and procedures, from certain classes of creditors in order to exit bankruptcy.  Phase Eleven is tasked with:

  1. Solicitation class preparation and packaging
  2. Plan objection tracking and creditor inquiry follow up
  3. Solicitation class mailing and follow up processing
  4. Solicitation third party processing
  5. Returned ballot validation and tabulation
  6. Voting certification 

Each of the above phases and efforts involve communications, documents and highly skilled project management occurring in a series of well-coordinated movements to ensure comprehensive, efficient and cost effective solicitation. 

The same solicitation methods and standards utilized at two of the countries premier law firm debtor practices are the Phase Eleven standards for solicitation excellence. 

Phase Eleven consultants will leverage the full extent of our knowledge, skills, abilities, people power and database technology to execute an efficient and cost effective solicitation solution for your chapter 11 case.

Request a presentation of our comprehensive chapter 11 case solutions to conquer your chapter 11 challenges.