Case #1: Multiple Affiliate Names. A new insolvency case was reported for a longstanding (+30 years) Limited company. Adar associates established contact with the company's finance director who upon learning of the case became interested in retrieving the unclaimed distribution. Adar requested a listing of all associated company and/or division names from the finance director and ran them against Adar's database of more than +200,000 cases. A search revealed 11 other cases, some of which were more than 14 years old. Together, the total amount recovered for the client was several times the size of the original case. All monies were successfully recovered.
Case #2: "No missing funds." A client was skeptical of Adar's information when initially contacted. The financial controller was adamant that no funds were missing. At no cost to the client Adar further investigated the case and proved that in fact unclaimed funds were bankable to the client. The client, under no financial obligation if unsuccessful, authorized Adar to proceed. Funds were recovered and paid directly to the client. If Adar had not acted the funds would have been escheated to the government.
Case #3: Dormant Company. Adar's research team located a director of a now dormant company that was the beneficiary of an unclaimed distribution. The director provided documentation of his authority to act and appointed Adar to recover the heretofore lost monies from a debtor in a long closed insolvency.
Case #4: Automated Recovery. Adar established an ongoing relationship with several major banks and multinational companies. Every month, when new case data is released, the Adar team diligently searches for all funds due to the companies and their underlying subsidiaries. As long as Adar has the company's current and historical structure (including past names) it can continuously return dividends to its clients from old cases where funds go unclaimed and payments expire.
Case #5: Confirmed Ownership. Due to the "age" of various insolvencies the client was unable to locate the original claim in its files and was loath to recover funds it was not sure it was entitled to. Adar, through its relationship with Insolvency Practitioners was able to obtain copies of "Proof of Debt" as originally filed many years prior. As a result, the company was able to confirm ownership and "accept" the recovery of these funds.
Case #6: Third Party Recovery. A creditor company had become dormant, however it itself had become a debtor in an action by a third party. Adar, representing the third party obtained legal assistance which obtained a third party debt order. This allowed the Insolvency Service to honor the court order and pay over the funds to the third party creditor.
Case #7: Insolvency Practitioner. A named creditor is in voluntary liquidation. The insolvency practitioner assigned Adar the authority to recover the funds of the estate. An appropriate representation letter is produced and submitted. The funds are sent directly to the practitioner's attention.