Background

When a New Jersey bus company filed in Chapter 11, an insurance company was owed over $250,000.00. Recovery was uncertain.

The Challenge

We were retained by the insurer to come up with a strategy to collect its insurance premiums despite the financial difficulties and filing.

The Solution

Recognizing that the amount due could be characterized as an administrative claim, we presented a claim in the United States Bankruptcy Court for the District of New Jersey.

The Result

Over the objection of the Trustee, the administrative claim was accepted. Payment of $250,000.00 was made in installments under the Plan.