Friedman's Jewelers
It was the second time in three years that Friedman's Jewelers – with 388 stores in 19 states – filed for Chapter 11. Five months into the Chapter 11 process, the claims administrative costs were spiraling upward, making the company and its creditors extremely anxious. At that point, DRC was asked to replace the existing claims agent.
Why Accuracy Really Counts
With months of record backtracking to do and an aggressive deadline, DRC responded with an experienced team of managers and technology experts who created a customized program to administer the claims.
The team worked rapidly and meticulously to create a seamless process that restored confidence among all the interested parties. In discovering 6,800 duplicate records and a number of missing proofs of claim, DRC saved the legal team time and costs.
Getting Results
With the ability to prioritize the handling of the case, DRC delivered unmatched attention to detail that saved 17% on each major mailing. Combined with a transparent billing process, DRC ensured a higher return for the more than 40,000 creditors.
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