Case Studies

Trustee Services

Consensus offers trustee services in Chapter 11 cases where there are distributions to a large number of creditors. We negotiate the resolution of disputed, contingent and unliquidated claims, establish reserves for their payment, maintain claims payment records, provide tax reports to creditors and make distributions to creditors. This often over-looked function can mean the difference between a speedy recovery for creditors and a drawn-out and uncertain process. Consensus uses BMS, Inc.’s TrustWorks software platform to manage large claims databases and to manage distributions to unsecured creditors. Consensus’s Michael O’Hara is a member of BMS’s advisory board. Consensus has served in this capacity in the Crescent Jewelers and L.I.D., Ltd bankruptcy cases, and is working with assisting the trustees in the M. Fabrikant & Sons and Friedman’s Jewelers bankruptcy cases.