FAQs

ACS is indicating interest to creditors in certain insolvency cases and provides an option to sell their insurance insolvency claim for an immediate cash settlement.

After receiving a executed assignment agreement, ACS may need to confirm the amount and validity of a claim and also confirm that the claim has not been previously assigned. Payment typically takes us between 2-3 weeks of having received a executed Assignment Agreement.

It's just an option to sell your claim. The claimants who do end up selling their claim to our firm usually do so because they are tired of waiting out for the liquidator to make a distribution in the case.

There could be several reasons why a case goes on for many years or even decades. The Estate could be in litigation with several parties that owe the Estate money. Depending on the type of insurance coverage the Estate provided, it could take a while for long tail claims to surface in the case for any coverage that they wrote on Asbestos or Environmental policies. There could also be instances if a creditor who does not have a approved claim will try to disrupt the case by objecting to any motion for distribution or motion to a final bar date in the case.