Effective Multi-Faceted Case Administration:
Far Rockaway Nursing Home (Far Rockaway) filed for Chapter 7 protection in the Eastern District of New York. The Court allowed the Chapter 7 Trustee to operate this skilled nursing facility located in Queens, New York. In addition to generating revenue from the operation of the business, the Trustee obtained Court approval and proceeded to sell all of its assets. Stretto was engaged to provide case administration support during this period. Working closely with our Trustee client, we provided assistance with a multitude of complex issues involving members of various Client Service teams to get the job done.
For over a year during the wind down, Stretto assisted with reporting records and transferring information for payroll checks from Far Rockaway’s operating bank which was outside of our professional network which presented a challenge. The team spent significant time analyzing their accounts, reconciling hundreds of transactions and preparing the data for outbound transfer.
We monitored monthly operating summaries to verify the accuracy of information and developed custom reports complying with UST reporting requirements, as well as working closely with our client’s office in preparing the complex Trustee’s Final Report. Leveraging over 20 years of bankruptcy technology expertise, our Managing Director for the Northeast region performed computer forensics for the Trustee and the Trustee’s counsel. Overall, our team consulted alongside Far Rockaway’s attorneys, accountants, and controller on a more substantive level to ensure a successful outcome to this engagement.
For more information about Stretto’s suite of fiduciary solutions, please contact Dave Beltran.