Claybrook & Associates is an accounting and financial services consulting
firm with a specialty practice that supports Liquidating Trusts created
under Chapter 11 the Bankruptcy Code. We are prepared to Liquidating
Trustee to the Fund and liquidate and distribute the assets to holders
of allowed unsecured claims, complete the resolution of disputed claims
in accordance with the Plan.
Our Approach
Claybrook & Associates brings ten years of chapter
7, 11 and Liquidating Trustee experience in managing the activities of
Liquidating Trusts. Because of our experience we are able to establish
centralized accounting systems, coordinate communications with all Trust
constituencies and brings our extensive institutional banking relationships
for customized banking solutions.
Our Services
Corporate Wind-Down
Claybrook & Associates
will meet with debtor employees to obtain information relevant to
existing operational and financial recording and reporting systems.
The purpose of this initial review is to identify critical personnel
for retention as part of the wind down. We rely on our experience
as public accountants and industry consultants to gain an understanding
of the information technology environment so an independent accounting
system can be developed which mirrors the operations of the debtor.
Retirement Plan Termination
Claybrook & Associates staff works with former
employees and plan custodians to roll over or disburse participant
plan accounts. We maintain debtor personnel and payroll records so
that participant distribution requests can be corroborated and processed
for distribution
Tax and Regulatory Compliance
Claybrook & Associates can assess and complete
all tax requirements for the debtor and all related entities. We employ
a systematic approach whereby we prepare all state property, sales
and use tax returns for all applicable entities. Next, state and local
income tax returns or extensions are filed. The third and final phase
is to complete all state and local income tax returns along with the
federal corporate returns.
Asset Management
Drawing upon our experience in business valuation,
management analysis and forensic accounting, Claybrook & Associates
organizes and evaluates information and provides services which are
critical to the bankruptcy process, including the following:
Identification, valuation and management
of assets
Report on operations
Liquidity analysis
Solvency opinions
Asset tracing
U.S. Trustee reporting
Development of plan
of reorganization or liquidation
