Garden City Group, LLC(SM) (GCG®) Restructuring Team Awarded Top Honors at
The M&A Advisor's 11th Annual Turnaround Awards
GCG Honored for Administration Role in Restructuring Deal of the Year ($1B-5B) and Wins Turnaround Product/Service of the Year - Information Management
NEW YORK (March 28, 2017) - Garden City Group, LLC(SM) (GCG®), a wholly-owned subsidiary of Crawford & Company® and a leading provider of legal administration and technology solutions, today announced that it has received two prestigious awards from The M&A Advisor for its outstanding operational and technological achievements in the $2 billion Chapter 11 restructuring of oil and gas company, Quicksilver Resources.
Honored for its role as claims agent in the Quicksilver Chapter 11 restructuring, GCG's team was part of the larger multifaceted team of restructuring professionals to win the Restructuring Deal of the Year ($1B-5B) at The M&A Advisor's 11th annual Turnaround Awards. GCG was also honored to receive an award for Turnaround Product/Service of the Year - Information Management. The M&A Advisor is the world's premier leadership organization for mergers, acquisitions, restructuring and refinancing professionals.
GCG's award-winning work on the Quicksilver case was selected by an independent committee of mergers, acquisition, restructuring and refinancing industry experts from submissions by more than 300 companies. The M&A Advisor's Restructuring Deal of the Year is judged on the deal's profile, challenges and benefits; the Turnaround Product/Service of the Year is awarded on the basis of the product or service's profile, benefits, unique attributes, market share, growth trajectory and industry impact.
"GCG's state-of-the-art systems are changing the landscape of our industry," said Angela Ferrante, senior vice president, operations at GCG. "We are paving the way for what's possible when it comes to employing technology in restructuring administrations."
In the Quicksilver matter, GCG oversaw the administration of the complex Chapter 11 restructuring, successfully mitigating unforeseen legal challenges, realizing measurable benefits for Quicksilver's customers and vendors and, ultimately, providing services that supported Quicksilver's ability to emerge from bankruptcy through a successful reorganization. Throughout the engagement, GCG's restructuring team served as a strategic administration partner in the delivery of comprehensive, end-to-end services related to claims, noticing, solicitation and balloting.
Integral to the success of the Quicksilver matter were the breakthrough and cost-efficient systems GCG developed and employed throughout the administration. Leveraging cutting-edge technology and proprietary software, GCG successfully developed a secure and interactive online claim and balloting portal that enhanced the submission process while achieving greater flexibility and confidence for users.
The Turnaround Product/Service of the Year - Information Management was awarded based on the technology's ability to streamline the administration of the bankruptcy case, particularly the claims, voting, and balloting processes.
About Garden City Group, LLC (GCG®)
For more than three decades, GCG (www.gardencitygroup.com) has been the premier provider for class action settlement administrations, restructuring and bankruptcy matters, mass tort settlement programs, regulatory settlements, and data breach response programs. GCG provides industry leading reorganization services including services relating to Chapter 7 liquidations, Chapter 9 restructurings, Chapter 11 reorganizations, Chapter 15 cross-border proceedings, Creditors' Committee assistance, and out-of-court restructurings and corporate events. Our team has handled landmark bankruptcies involving billions of dollars of liabilities, including notably Samson Resources, American Apparel, Inc., American Airlines and Motors Liquidation Company (f/k/a General Motors Corp.). GCG is a subsidiary of Crawford & Company.
About Crawford®
Based in Atlanta, Crawford & Company® (NYSE: CRD-A and CRD-B) is the world's largest publicly listed independent provider of claims management solutions to insurance companies and self-insured entities with an expansive global network serving clients in more than 70 countries. The Crawford Solution(TM) offers comprehensive, integrated claims services, business process outsourcing and consulting services for major product lines including property and casualty claims management, workers compensation claims and medical management, and legal settlement administration. More information is available at www.crawfordandcompany.com.
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