Industry

Banking, Finance & Insurance | Insurance Brokerage

DSI'S Role

Chapter 11 Trustee

Services Provided

  • Sale of Assets

C.M. MEIERS COMPANY, INC.

Case Highlights

  • Company is a large insurance brokerage founded in 1934
  • Consummated successful sale process in under three weeks
  • Out of trust was assumed by the buyer, reducing the negative impact on consumers

Case Narrative

C.M. Meiers Company, Inc. (“C.M. Meiers”) was an insurance brokerage company founded in 1934.  A DSI professional was appointed Chapter 11 Trustee of C.M. Meiers two weeks after its bankruptcy filing, which was at the time determined to be out of trust by approximately $1 million.  The Trustee was under significant time constraints due to C.M. Meiers’ liquidity and out of trust issues.  Even with these limitations, DSI was able to facilitate a successful auction process that included three bidders in three weeks, and was able to get the buyer to assume the out of trust, thereby reducing the negative impact on the consumers.