We believe that our continued success in this business has to do with “doing well by doing good,” and by maintaining the highest standards in our professional lives and in our business practices.
Throughout the years we have developed our own Best Practices through the evolution of our business processes from administering thousands of Assignments, Receiverships and Trustee cases. One thing that we do not take for granted, and is common throughout all of our casework, is the trust that you, other professionals and the thousands of creditors with whom we have dealt, have in us and our firm.
It gives us great satisfaction to continue the great relationships that we have with insolvency professionals and for that reason we want to assure you that we will continue to hone our Best Practices process. These practices are common procedures for us and have been used by us for decades.
To highlight some:
- We administer all of our cases with the AXOS Trustee Case Management System which meets the software standards of the U.S. Trustee Program.
- Our primary trust banking meets the standards of the U.S. Trustee Program.
- All trust accounts are balanced daily. A process that we have been using for years, it incorporates the tools of the AXOS software system and a daily report from the bank on all accounts detailing the previous days transactions.
- We have engaged the accounting firm of CBIZ Goldstein Lewin to perform a monthly comparison of each case account bank statements and bank reconciliation with our internal records and case ledgers and to produce a report for our Board of Directors. (July 2020). We will continue to post these reports on our website.
- Each case has its own bank account. No funds are commingled. All checks are generated by check requests which require multiple approvals and all checks have two signatures.
We have evolved enough to have these procedures down pat. Our firm is unique because it has the systems, facilities and talent in place and we have the business skills to enable us to realize the highest and best value for a company’s assets. Our people understand the numbers and the mechanics behind the laws allowing us to deliver the largest possible returns.
We thank you again for your support and trust and will never take it for granted.
Philip J. von Kahle, President