What we learned helping with the Toys ‘R’ Us Bankruptcy
When Toys ‘R’ Us filed its Chapter 11 bankruptcy petition in late 2017, many industry experts predicted that the big winners in the case would be the lawyers and financial advisors. They didn’t know that Legal Decoder would be called on to assist by the federal appointed fee examiner.
When Professor Nancy B. Rapoport, of the William S. Boyd School of Law at UNLV, arrived on the scene to find a 9 month backlog, the task seemed daunting.
Professor Rapoport relates that she could count on Legal Decoder for both precision and timeliness.
“The speed with which Legal Decoder supplied me with results-in the form that was the most helpful to me- was phenomenal. It would have taken hundreds of hours even to come close to what Legal Decoder provided, and Legal Decoder also has a vast array of industry data that helped me keep line items in context.”
She goes on to say that using Legal Decoder is like the difference between making a hand-stitched suit and making one with the help of a sewing machine.
When it came to the hard conversations Professor Rapoport remarks that no one likes getting a call from a fee examiner. But having data to share with the legal professionals helped them understand the concerns. Legal Decoder was able to show graphically where the line items seemed like outliers.