Case Study: Ditech Accelerates Administration of Complex Restructuring Requirements
- Financial Services
Client
Ditech Holding Corporation
Location
United States
Client need
Due to severe liquidity constraints after 50 years in business, Ditech entered into a Restructuring Support Agreement and filed voluntary petitions for Chapter 11 bankruptcy to facilitate the financial restructuring. Ditech needed an experienced partner to facilitate the restructuring and claim administration.
Client solution
- Reviewed 1.5 million borrower records in 4 days, enabling timely notice mailing.
- Created a custom on-line claim form for borrowers, used in conjunction with our proprietary workflow platform, to ensure a flawless claim filing process.
- Launched a multi-lingual call center that responded to over 300,000 calls from borrowers.
- Advised Ditech to solicit constituent input via cost-saving postcard mailing.
- Designed and monitored a customized website for borrowers to get pertinent information about developments in the case.
- Expedited Court confirmation of Chapter 11 plan, saving jobs and positioning Ditech to thrive as it emerged from bankruptcy” as the last bullet point under Client Solution (and change “Epiq Solution to Client Solution.
Why Epiq
Ditech chose Epiq due to our deep expertise in corporate restructuring, tech-enabled process efficiency, and knowledge of the financial services industry. They were confident we could deliver premier services for a “mega bankruptcy” of this size and complexity.
Results and Benefits
1.5 million
records reviewed in 4 days.
$ ↓
significant cost savings through Epiq implementation of process efficiencies.
300,000
calls from borrowers serviced.