Bankruptcy

ALCS provides the most responsive and cost-effective bankruptcy claims administration services in the industry. The processes and procedures that focus on proper training and quality assurance coupled with ALCS’ proprietary case management system, known as the LCMS software suite, provide for an optimal platform to ensure efficient receipt, entry, reporting and reconciliation of bankruptcy claims.

The ALCS team has a wealth of experience in providing support to liquidating trustees. In this role ALCS acts as successor claims and noticing agent, distribution agent and general Plan consultant. The application and execution of liquidating plans in an effective and efficient manner is maximizing returns to creditor beneficiaries.

ALCS brings the same highly responsive and cost effective mindset when called upon to assist in the administration of chapter 7 cases. The processes and procedures that focus on proper training and quality assurance coupled with the LCMS software suite provide for an optimal platform to ensure efficient receipt, entry, reporting and reconciliation of bankruptcy claims.

In order to effectively provide core bankruptcy administration services in chapter 11 bankruptcies, ALCS must have a keen sense of the needs and workings of creditors committees. The ability to communicate with the constituency is of utmost importance. ALCS can provide case specific websites, contact services implementing both IVR and live agents, manage electronic requests for information, and provide service of notices and other documents.

ALCS has substantial experience in providing Solicitation and Balloting services in bankruptcies of multiple sizes. This experience includes dissemination of solicitation packages to beneficial holders of publicly traded notes and equity. The ALCS team has been called upon several times to assist in the development of solicitation procedures that Plan proponents can rely upon to meet voting requirements of the bankruptcy code.

ALCS has executed the Plan distributions of both stock and cash in cases of all sizes including some of the largest in the past 10 years. The depth of experience spans grantor trusts, disputed ownership funds, employee withholding calculations, pro-rata calculations and distribution analyses. The LCMS distribution module manages multiple plan classes, multiple plans and multiple incremental disbursements.

ALCS can assist in claim reconciliation by implementing an array of techniques specifically focused on bankruptcy claims and the needs of the specific client. The ALCS process begins with accurate data capture through claims processing and the recording of schedule records. Variance reports comparing claims to schedules in whole or at the invoice level afford the client to spend more time focused on the operation of the core business and less time in the analysis and reconciliation of claims.

Proper noticing starts with accurate and current data. The LCMS software assures that data is properly maintained by coding data correctly and maintaining the integrity of the data through address updates, and subsequent notice requests. Assurance of proper notice is the key to most bankruptcies in order to obtain proper discharge. The ALCS team has more than a century of combined legal noticing experience. Additionally, ALCS can provide notification through publication, TV, radio, etc.

ALCS has the ability to create and maintain case-specific websites efficiently and effectively as integrated modules of the LCMS software suite. ALCS websites contain general case information, access to service lists, a parallel case docket available to the public at no charge, a list of important dates and other information clients deem necessary to make available.