Loews Cineplex
Loews Cineplex, the oldest and largest movie theater franchise chains in North America, had been built up over time from smaller individual and groups of theaters. When the chain was faced with a bankruptcy filing in 2001, the number of entities involved presented a set of incredibly complex claims management requirements.
Why Innovation Matters
The team of attorneys turned to DRC to design a process for managing the complexities of a case with 237 debtors and 58,000 creditors. The solution provided a transparent and efficient process for managing 10,460 claims within 24 hours, shrinking the time frame down from two weeks to provide an additional $60,000 in time savings alone.
Getting Results
Beating an aggressive deadline of 48 hours – with time to spare – the
team at DRC leveraged years of industry insight and technology capabilities to build
an innovative platform that efficiently managed claims for all stakeholders involved.
Loews Cineplex emerged from a seamless
Chapter 11 process as a functioning entity to successfully merge with Fortune 1000's
AMC Theatres.
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