Solicitation Expertise

Expertise: 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.  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.  Attached is an informative article regarding the importance of proper solicitation planning for effective results: Importance of Solicitation Planning

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

  • Preparing all creditor classes based on schedules and statements and claims
  • Preparing voting creditor classes and customized ballots
  • Preparing and planning solicitation logistics for all classes and distribution methods, including third party agent distribution
  • Setting up 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:

  • Certifying mailed ballots and overall solicitation distribution 
  • Tracking and following up with third party agents on distribution to beneficial holders
  • Coordinating immediate undeliverables follow-up
  • Responding to creditor inquiries and appropriate referral to counsel
  • Providing secure, immediate review and tabulation of received ballots
  • Coordinating 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 scanning, file uploading and historical archiving for received supporting materials
  • Summarizing and organizing database creditor records for plan confirmation
  • Preparing invalid and ballot reports
  • Tabulating, verifying and certifying 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.

Expertise: Tested and Trusted Solicitation Experience

In over fifty chapter 11 cases, the founder of Phase Eleven worked on the preparation, distribution, tabulation and certification of creditor class solicitations in traditional, liquidating traditional, prearranged and prepackaged chapter 11 bankruptcy cases. 

The same administrative expertise provided at top tier law firm bankruptcy practices is now available from Phase Eleven for all case professionals and debtor companies in need of chapter 11 excellence. 

The founder of Phase Eleven:

  • Responded to creditor solicitation inquiries
  • Reviewed and proofed solicitation procedures drafts
  • Prepared draft solicitation ballots and materials
  • Worked with third party distribution agents, such as ADP
  • Reviewed and prepared voting reports
  • Worked with solicitation agents on distribution and recordation
  • Prepared confirmation publication notices
  • Prepared status summary memoranda
  • Attended contested and un-contested plan confirmation hearings

The sum of this work experience led to the development of solicitation procedures and processes and knowledge, skills, abilities, methods, standards, and tools  to organize, proactively prepare for and reactively respond to solicitation challenges. 

Experience-based solicitation efforts included: 

  • Knowledge of content and workings of solicitation pleadings and procedures
  • Skills to coordinate with case professionals, creditors and third party agents
  • Solicitation materials, distribution and tabulation concepts, context and planning
  • Standards for organization and update of solicitation distribution and received votes
  • Methods to train case professionals in techniques of solicitation planning, preparation, distribution, monitoring, tabulation, validation and certification 
  • Technological database tools which provide comprehensive solicitation processing

At Phase Eleven, we know and understand solicitation issues because we have experience with the contents, purpose and procedures for all solicitation materials and parties involved in a successful solicitation.

We developed a substantial part of our Microsoft SQL Server database to provide detailed organization, record keeping and reporting to alleviate the administrative burden placed on case professionals to provide comprehensive solicitation execution. 

Expertise: Solicitation Services

Phase Eleven provides comprehensive solutions to solicitation preparation, distribution, tabulation and certification issues.  We will provide detailed preparation, organization, distribution, receipt, and reporting related to all aspects of creditor solicitation implementation to alleviate the administrative burden placed on case professionals.

As an example of our solicitation work, the planning for a single solicitation class can involve:

  • Number, amount and weight of solicitation materials
  • Ballot and master ballot customization
  • Unique distribution methods
  • Follow up procedures
  • Creditor inquiry responses
  • Package tracking
  • Voting analysis summaries
  • Procedures invalidation, tabulation, and certification

As part of these solicitation services, we will leverage the awesome organizational power of our Microsoft SQL Server-enabled Relational Restructuring Database to provide accurate, comprehensive and timely solicitation information.

Regardless of whether prearranged, prepackaged, traditional or liquidating traditional chapter 11 solicitation, we understand the purpose, procedures, materials, concepts and timing of solicitation and will provide the expertise and leading edge technology to conquer all of your solicitation challenges.

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