Miscellaneous

Other recovery successes

A major international chemical company based in the US has recovered insolvency funds of approximately $3m from a total debt of almost $9m, with a further $3m anticipated.

Another major US mining corporation has so far recovered $1.3m out a total claim of $5.2m, with another $2m due over the next five years. Other successful recoveries, where the total claim was smaller but no less significant include: a major multinational petroleum corporation, a large US gas utility company, a large water utility company, a major US tire manufacturer and a large US paper manufacturer and supplier to the building trade. In total in the region of $1.75m has so far been collected for their combined claims of $5m, with a further $1.25m expected.

Additional US clients whose claims have only recently been presented include an aircraft/defence electronics corporation, a major energy company, a large consumer product manufacturer and several others.

We are very pleased to be in a position to say that, to date, no claim presented by InSolutions to insolvent carriers has been rejected.

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