Receivership Services

The principals at Fiduciary Management Technologies have been appointed and served as California State Court Receivers in a number of matters including distressed and insolvent business cases, partnership disputes, family law matters, health and human safety real property cases, and insolvent real property cases to manage and oversee operations, liquidate assets, provide accounting transparency to all parties, and otherwise preserve the value of estate assets.

Chapter 11 Claims Management

For over twenty-three years, Fiduciary Management Technologies professionals have been applying their expertise to the administration of the largest Chapter 11 case to the smallest matters. FMT brings a team of seasoned professionals with experience as bankers, attorneys with leading law firms, paralegals, accountants, and trustees.

FMT is fully equipped to handle the volume of mailing involved in properly sending the required notices to creditors and other interested parties. We follow the notice and solicitation procedures that conform to the guidelines promulgated by the Clerk of the Court and Judicial Conference of the United States. We endeavor to coordinate efficiently with other professionals involved in cases to avoid duplication and inefficiency.

Our reorganization manager automates the structure of the entire claims analysis, resale, objection and settlement process to include a customizable chart of accounts, detailed claims tracking and complex distribution calculations incorporating the allocation of disputed reserves.

We provide a fully-integrated, web-based information system for all phases of the administrative process. The dedicated case website provides pertinent case information that is updated on a 24/7 basis. Each document filed with the court can be scanned into system and made available for viewing in PDF format. Services Provided by FMT:

• All forms, reports, and documents required by the Court.

• Set-up and maintain a Debtor case specific web site.

• Set-up and maintain a Debtor case specific voice mailbox.

• Preparation and service of required notices and other pleadings.

• Preparation for filing with the Clerk’s office a certificate or affidavit of service that includes (i) an alphabetical list of persons on whom the notice was served, along with their addresses and (ii) the date and manner of service.

• Maintain copies of all proofs of claim and proofs of interest filed.

• Maintain official claims registers by docketing proofs of claim and proofs of interest in a claims database.

• Implement necessary security measures for the completeness and integrity of the claims register.

• Record all transfers or sale of claims pursuant to applicable Federal Rules of Bankruptcy Procedure.

• Transmit to the Clerk’s office a copy of the claims registers on a weekly basis and an up to date mailing list for all entities.

• Automated check generation and account reconciliation with automatic reservation of funds for unresolved claims or creditors that cannot be located.

Liquidation and Disbursing Agent

In many cases the professional staff of Fiduciary Management Technologies, Inc. (FMT), working with a lender or other significant party, develop a plan to evaluate and ultimately assist in the determination of the best management plan for estate assets, the ultimate goal being to preserve the value of assets for the benefit of the creditors. Should that determination mean the liquidation of case assets FMT brings in experienced professionals to appraise, market and sell the asset or assets.

FMT’s automated distribution process has electronic data import and export capabilities in CSV or MS Excel format. A vetting of claim name, address, and other contact information is conducted on imported claim data. Upon completion of an asset liquidation process, claim information is electronically transferred into FMT’s powerful distribution engine which is engaged to provide unlimited distribution modeling on a percentage or fixed amount basis. Once the distribution model is determined, ACH wire transfers may be initiated or multiple automated check generation runs may be initiated to various claim classes with the click of a button. Distributions include an accompanying cover letter or other communication as appropriate. Records of all transactions are maintained as originals or imaged copies. Original or imaged checks voided, damaged, or returned undeliverable by the post office are retained. Transaction account records and records of check issued but not cashed as well as rejected electronic payments are maintained for review. Stop payments are placed on all checks not negotiated prior to the expiration date of the check.
An automatic reservation of funds for unresolved claims is in place, plus a reservation of funds for creditors that cannot be located, rejected electronic payments, or damaged checks is also created. FMT’s accounting engine working in conjunction with a bank partner provides an automatic account reconciliation and transaction clearing process on a daily basis.

The ability for case attorneys, legal staff, creditor committees to monitor 24/7 distribution activity for a case is available through a secure Virtual Data Room.