Solicitation

Post Petition Services: Solicitation Overview

In order to exit bankruptcy, companies must "solicit" and receive acceptance of a proposed plan of reorganization from certain classes of their creditors.  Attached is a sample plan of reorganization: Sample Confirmed Plan of Reorganization

Solicitation of creditor votes to accept or reject the plan are approved by a solicitation procedures order which governs the distribution, processing, receipt, recordation, reporting and tabulation of the plan voting process. 

Phase Eleven is tasked with providing administrative assistance for:

  • Preparation of creditor classes based on schedules and statements and claims
  • Preparation of voting creditor classes and customized ballots
  • Preparation and logistics planning for all solicitation classes and distribution methods, including third party agent distribution
  • Publication notice regarding plan solicitation
  • Tracking plan objections and filed 3018 pleadings
  • Set up of customized database for online solicitation preparation/tracking 

In the planning phase, we are tasked with providing administrative assistance for:

  • Prepare all creditor classes based on schedules and statements and claims
  • Prepare voting creditor classes and customized ballots
  • Prepare and plan solicitation logistics for all classes and distribution methods, including third party agent distribution
  • Set up of customized Microsoft SQL Server online solicitation preparation and tracking database 

The beginning of solicitation distribution or voting record date starts the solicitation process in which creditors will inquire about solicitation materials, third party agents will receive and distribute custom ballot materials and creditors will cast their votes. 

The solicitation process typically occurs over a thirty day period, though in some prepackaged cases it can be as short as several hours, to allow time for creditors and third party agents to receive, review and send back cast ballots. 

During the solicitation process there will be continued coordination with case professionals, creditors and third party agents regarding solicitation contents, procedures and deadlines.  Ballots will  be received and carefully reviewed and processed for their vote to accept or reject the plan of reorganization.  During the solicitation process, we are tasked with:

  • Certify mailed ballots and overall solicitation distribution 
  • Track and follow up with third party agents on distribution to beneficial holders
  • Coordinate immediate undeliverables follow up
  • Respond to creditor inquiries and appropriate referral to counsel
  • Provide secure, immediate review and tabulation of received ballots
  • Coordinate with case professionals and counsel regarding solicitation status

The solicitation period ends on the voting deadline, but the solicitation process may continue for an additional amount of time depending on the number of ballots solicited and received.  at the end of the solicitation period, results are verified and tabulated by voting class and provided to case professionals and the company via secure online access.      

At the end of the solicitation process, we are tasked with providing administrative assistance for:

  • Careful review, analysis, recordation and reporting of received ballots
  • Bar code scan, file upload and historical archive for received supporting materials
  • Summary and organization of database creditor records for plan confirmation
  • Prepare invalid/ballot reports
  • Tabulate, verify and certify received class results
  • Witness testimony at plan confirmation hearing

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. 

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. 

Post Petition Services: Solicitation Services

Achieving excellence in a solicitation involves communications, documents, and highly skilled project management occurring in a series of well-coordinated movements to ensure comprehensive, efficient, and cost effective solicitation

Phase Eleven solicitation project management methodologies were developed during the founder's eleven years of chapter 11 case work at two of the countries premier debtor practice law firms in incorporated into the Relational Restructuring Database for maximum accuracy and effectiveness. 

Solicitation database and project management includes, but is not limited to:
 

Preparation/Mailing

Recordation/Reporting

Tabulation/Certification

§  3018 preparation

§  Ballot tracking

§  Certification filing

§  Case webpage

§  Creditor responses

§  Certification of publication

§  Case precedent access

§  Custom voting reports

§  Class calculation

§  Counsel meetings

§  Holder of record status

§  Convenience class calculation

§  Class organization

§  Input and association

§  Custom class calculation

§  Class package planning

§  Online status access

§  Excluded ballot calculation

§  Custom ballot prep.

§  Receipt and review

§  Online reporting access

§  Mailing logistics

§  Return to sender

§  Plan objection grouping

§  Online status access

§  Third party follow up

§  Public access solicitation

§  Publication logistics

§  Timely status reports

§  Solicitation testimony

 

§  Valid/invalid ballot

§  Tabulation and validation

 

 

§  Web review with company

 

 

 

During eleven years of chapter 11 case work, the founder was involved with every aspect of plan solicitation for a diverse range of companies represented in bankruptcy courts across the United States.

Phase Eleven, utilizing their knowledge, skills, abilities, resources and database technology, is prepared 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.