Welcome!

News Feed Item

U.S. Bankruptcy Court Approves Electronic Balloting Procedures for First Time in Chapter 11 History in Pitt Penn Holding, Inc. Case

Cole Schotz Partners with UpShot Services to Bring Technology to Chapter 11 Voting Process

DENVER, April 1, 2014 /PRNewswire/ -- Marking a significant first in Chapter 11 history, the U.S. Bankruptcy Court for the District of Delaware approved electronic balloting procedures in the Pitt Penn Holding Company, Inc., et al. matter.  Cole, Schotz, Meisel, Forman & Leonard, P.A. ("Cole Schotz"), counsel to the Chapter 11 Trustee, and claims & noticing agent UpShot Services LLC ("UpShot") worked together to devise the industry's first electronic balloting procedures using UpShot's SmartSign. This technology allows creditors to vote instantaneously online rather than via the traditional method of completing paper forms sent through the United States Postal Service.

"Our goal in implementing electronic balloting is to bring greater efficiency to the voting and solicitation process for all involved parties," said Norman Pernick of Cole Schotz, the Chapter 11 Trustee overseeing the Pitt Penn proceedings.  "We look forward to a successful outcome as we apply this novel technology and approach in the Pitt Penn matter."

UpShot SmartSign allows creditors to fill out, electronically sign and submit any document in a restructuring case, including proofs of claim, ballots, W-9 forms, proofs of interest, releases and any other document that requires a physical signature.  This technological advance reduces claims & ballot processing time and costs by up to 95 percent over traditional methods by virtually eliminating all manual data entry.  Documents signed and submitted via UpShot SmartSign are compliant with state and federal regulations regarding electronic signatures, so UpShot SmartSign documents have the same legal standing as an original signature.

"At UpShot, our goal is to make Chapter 11 a more efficient, and eventually paperless, process," commented Travis Vandell, UpShot's co-founder and CEO.  "We've made significant progress towards this goal with electronic claims filing procedures in active cases, and now are making new strides with the adoption of electronic balloting."

About UpShot Services LLC
Headquartered in Denver, Colo., UpShot Services LLC is a claims & noticing firm founded by industry veterans who pioneered a new standard of efficiency to serve the administrative needs of companies in corporate bankruptcy.  UpShot helps debtors and their professionals navigate the intricacies of claims, noticing, balloting and other Chapter 11 milestones without the burden of high administrative costs.  Its easy-to-use, scalable technology and industry expertise enable corporate debtors and their professionals to do more with less, with 24/7 support from experienced experts at every stage of corporate restructuring. 

About Cole, Schotz, Meisel, Forman & Leonard, P.A.
Cole Schotz serves clients nationally throughout the United States with offices in New York, New Jersey, Delaware, Maryland and Texas.  The firm represents hundreds of closely held businesses and individuals - many for decades - as well as Fortune 500 companies.

Founded in 1928, the firm has grown to over 115 attorneys who work in eleven primary areas of practice:  Bankruptcy & Corporate Restructuring; Construction Services, Corporate, Finance and Business Transactions; Employment Law; Environmental Law; Intellectual Property, Litigation; Real Estate; Real Estate Special Opportunities Group; Tax, Trusts & Estates and White Collar Defense & Investigations.

SOURCE UpShot Services LLC

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at Dell EMC, introduced a methodology for capturing, enriching and sharing data (and analytics) across the organization...
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs oft...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
Did you know that you can develop for mainframes in Java? Or that the testing and deployment can be automated across mobile to mainframe? In his session at @DevOpsSummit at 20th Cloud Expo, Vaughn Marshall, Sr. Principal Product Owner at CA Technologies, will discuss and demo how increasingly teams are developing with agile methodologies using modern development environments and automating testing and deployments, mobile to mainframe.