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. 

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, carefully reviewed and processed for their vote to accept or reject the plan of reorganization.  Solicitation results, verified and tabulated by voting class, are provided via secure online access and email reports to case professionals and the company.  Attached is an informative article on plan solicitation: Administrative Services for Plan Solicitation    

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. 

Our administrative solicitation team will provide exacting processes, knowledgeable and skilled assistance, targeted information and rapid courteous responses to deliver outstanding solicitation results for your next chapter 11 case.

Solicitation Results

We drive solicitation results for case professionals, debtor companies and creditors based on our founder's eleven years of chapter 11 case expertise

We have tremendous experience with:

  • Contents, purpose and procedures to respond to creditor solicitation inquiries
  • Reviewing and proofing of solicitation procedures drafts
  • Preparing draft solicitation ballots and materials
  • Third party distribution agents, such as ADP
  • Reviewing and preparation of voting reports
  • Work with solicitation agents on distribution and recordation
  • Preparation and execution of confirmation publication notices
  • Solicitation status summary memoranda
  • Plan confirmation hearings

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

Our solicitation results will allow case professionals and the company to see the entire picture and be prepared to respond with precision to resolve issues and receive the requested relief. 

Using solicitation of a class of secured creditors as an example of our commitment to solicitation results, we will achieve:

Preparation results:

  • Provide pertinent secured class ballot and solicitation procedures precedent
  • Provide secured class database reporting with schedules and statements, claims reconciliation, and supporting information
  • Prepare custom secured class solicitation ballots
  • Prepare custom secured class solicitation supplemental materials
  • Prepare webpage for solicitation processing
  • Prepare logistics planning and processing, including third party distribution, for secured class distribution, processing, reporting and review
  • Prepare and coordinate solicitation publication notice with publication managers
  • Prepare service lists and packages for secured class solicitation
  • Coordinate with third party distribution agents and production agents related to solicitation distribution
  • Prepare 2002, core, and master service lists regarding solicitation
  • Track plan objections and filed 3018 pleadings

Process results:

  • Execute solicitation service of process for secured class claims and affidavit of service
  • Associate solicitation service of process with creditor records
  • Track and report on secured class service of process either through direct service or third party service
  • Coordinate immediate undeliverables follow-up
  • Post solicitation order, procedures and procedures summary to website page and group associated pleadings for creditor review and case professionals' reference  
  • Respond to solicitation secured class creditor notice inquiries and provide information
  • Provide status coordination with case professionals and counsel 
  • Bar code scan, upload and historical archive for received ballots and objections
  • Provide secure online access to secured class ballot reports
  • Track, group and report on filed plan confirmation objection responses
  • Careful review, analysis, recordation and reporting of received ballots 
  • Track, group and associate claims objection withdrawals, settlements and orders with individual creditor claim records for final reconciliation
  • Providing secure, immediate review and tabulation of received ballots
  • Preparing invalid and ballot reports
  • Tabulation, verification and certification of received class results

End Results

  • Thorough and complete historical creditor record for solicitation and disbursement reporting
  • Ensure professionals are prepared for contested plan confirmation court hearing
  • Ensure professionals are prepared for creditor responses to individual secured class ballot questions
  • Provide backup materials for returned ballots and creditor communications
  • Offer instant online accessibility to plan of reorganization objections
  • Deliver rapid, courteous response to case assignments
  • Deliver accurate information established from Relational Restructuring Database
  • Provide assurance of quality work for all phases of solicitation process
  • Provide continuous status updates during preparation and processing periods for solicitation noticing, creditor inquiries, responses, returned ballots, reports and certifications

At Phase Eleven, it is our promise to conquer your chapter 11 solicitation challenges and deliver the most outstanding solicitation results throughout the course of a case.

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