Specialty Fund Accounts & Disbursement Services

This includes additional measures to ensure compliance with the terms of each engagement, and includes the following types of accounts:

• 363 Sale Escrows
• ABCs (Assignment for Benefit of Creditors)
• DACAs
• Disbursing Agent Accounts
• DIP Accounts
• Litigation Trusts
• Liquidating Trusts
• Pre-Petition Accounts
• Professional Fee Escrows
• State Court & Federal Equity Receivership Accounts

Disbursing Agent Services
Compared to traditional financial institutions, Verita offers preferable economics and a reduced administrative burden for holding and disbursing these funds.

As disbursing agent, Verita works with you to develop a strategic approach to the distribution process by:

• Facilitating the establishment and management of designated bank account(s)
• Calculating appropriate distribution amounts for each recipient
• Coordinating the disbursement of proceeds to creditors
• Planning for complex wage claims disbursements
• Preparing and reporting on relevant IRS forms
• Tracking all disbursement activity
• Offering specialty tax reporting

International Disbursement Services
International disbursements can quickly increase the complication of your case. But with Verita, you’ll have expert guides who fully understand the unique concerns surrounding international currency payments for chapters 7, 11, 15, receivership, and liquidation cases.

Our team’s extensive experience includes facilitating the set-up of accounts and acting as disbursing agent for:

• TOISA
• CLSF
• ICPW
• Voyager
• And more

All of which were specialty fund accounts involving the administration of both domestic and international disbursements.