SEATTLE--(BUSINESS WIRE)--JND Corporate Restructuring, a subsidiary of JND Legal Administration that provides technology-driven claims and noticing services to companies undergoing corporate bankruptcy, announced the completion of several major, complex restructurings that resulted in cost and time savings for its clients, including law firm Morris Schneider Wittstadt, Va. PLLC, enterprise security software provider Wave Systems Corp., and multi-family housing investor Variant Holding Corp.
“We work closely with our clients to provide the most powerful and effective solutions to take them through bankruptcy in the most efficient, accurate and affordable way possible,” said Travis Vandell, CEO of JND Corporate Restructuring. “The results our clients have experienced are a testament to our innovative bankruptcy solutions and our tireless, stalwart client service.”
JND Corporate Restructuring’s innovative proprietary technology platform affords clients dramatic time and cost savings throughout the bankruptcy lifecycle. It enables debtors and their professionals to navigate the administrative aspects of corporate bankruptcy more effectively with electronic processes and technology-based tools, including QR codes that hold up to 50 times more data than traditional barcodes used by competitors and electronic claims processing capabilities.
In each case, JND’s team also leverages their extensive experience in the restructuring industry space alongside their technology capabilities to tackle complex cases, listening to client needs and creating structured plans that are time and cost-efficient.
JND’s recently completed cases include the following:
Morris Schneider Wittstadt, Va. PLLC and its affiliated debtors
successfully liquidated, with JND helping the firm navigate
effortlessly through bankruptcy – and allowing them to focus solely on
resolving their ongoing legal grievances. Prior to being defrauded $70
million, the firm employed more than 850 legal professionals in 30
offices across four states.
“I had not worked with JND, formerly UpShot Services, prior to the MSW cases. The Debtors selected JND as the Debtors’ claims agent based upon the recommendation of a colleague in the bar and JND’s rates,” said Jeff Waxman, Partner at Morris James LLP. “Throughout the MSW cases, the team at JND was immediately responsive to all of the issues that the Debtors’ cases required, including serving pleadings, maintaining a website for the Debtors and the Committee, reviewing and providing comments to the proposed plan solicitation and voting process, and providing us with regular updates of plan voting.”
- Wave Systems Corp. successfully emerged from Chapter 11 bankruptcy with returns to creditors that surpassed initial expectations. With the help of JND’s electronic ballots and other pioneering proprietary technology and services, the company transitioned from Chapter 7 liquidation to Chapter 11 seamlessly and effectively. Upon completing Chapter 11, Wave Systems provided creditors with a payout that was 81 percent more than originally formulated under Chapter 7.
- Despite spending two years in Chapter 11, Variant Holding Company, a multi-family housing magnate, was making slow progress in resolving their bankruptcy. JND Corporate Restructuring administered the cases of its 33 operating subsidiaries. Despite the complexities presented by restructuring within the income property field and the number of subsidiaries, the administrative aspects of restructuring managed by JND were successful and within a year, all operating entities were acquired.
About JND Legal Administration
JND Legal Administration is a management and administration company delivering service lines in class action, bankruptcy, eDiscovery, government services and mass tort. JND’s team of industry veterans is passionate about providing outstanding service to clients. Armed with decades of expertise and a powerful set of tools, JND has deep experience expertly navigating the intricacies of class action settlements, corporate restructuring, eDiscovery, mass tort claims and government services. JND is trusted by law firms, government agencies and Fortune 500 companies across the nation. The company is backed by Stone Point Capital and has offices in Colorado, Minnesota, New York, North Carolina, Washington and Washington, D.C. For more information about JND, visit www.JNDLA.com or contact info@JNDLA.com.