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Electronic Balloting Procedures Approved in a Chapter 11 Case

By ALM Staff | Law Journal Newsletters |

For the first time in history, a bankruptcy court has approved the use of electronic balloting procedures in a Chapter 11 case. The U.S. Bankruptcy Court for the District of Delaware approved electronic balloting procedures in the Pitt Penn Holding Company, Inc., et al. matter.

Cole, Schotz, Meisel, Forman & Leonard, P.A., counsel to the Chapter 11 Trustee, and claims & noticing agent UpShot Services LLC, worked together to devise the balloting procedure using UpShot's SmartSign. This technology allows creditors to vote instantaneously online rather than via the traditional method of completing paper forms sent through the United States Postal Service. Creditors can fill out, electronically sign and submit any document in a restructuring case, including proofs of claim, ballots, W-9 forms, proofs of interest, releases and any other document that requires a physical signature. Documents signed and submitted in this manner are compliant with state and federal regulations regarding electronic signatures, so UpShot SmartSign documents have the same legal standing as an original signature.

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