Safe Asset Sales: Safeguarding Proceeds for Stakeholders
Assets are disposed of during the liquidation process through mechanisms such as auctions or tenders. We secure funds with litigation escrow and keep them safe until proper distribution to stakeholders is guaranteed, thus reducing risks of misappropriation.
Pre-Packaged Insolvency Resolution: Ensuring Safe Fund Handling
For pre-packaged insolvency resolution, the funds of the applicant are securely kept in escrow for litigation until the implementation of the resolution plan, with no funds being misused during the process.
Transparent Claims Verification: A Seamless and Trustworthy Process
Deposited claims are verified and decided as per the IBC mechanism. Litigation escrow provides a guarantee that such claims are dealt with on a neutral basis, safeguarding both creditors and the corporate debtor.
Prompt Release of Funds: Streamlining Through Automation
Once the claims are confirmed, the escrow funds for liquidation get released automatically according to pre-defined priorities in the IBC, streamlining the process by minimizing manual verification and speeding up the process.
With Castler's litigation escrow, the liquidation process is streamlined and all stakeholders get a rightful share of the proceeds in a clear and timely fashion
Asset Sale - The assets are sold via different channels such as auctions or tenders.
Sale Proceeds in Escrow – Sale proceeds are held securely in an Escrow account with any of our banking partners and integrate it with Castler.
Claims Verification and Adjudication - All claims are verified and adjudicated as per the IBC framework, with fairness and transparency ensured.
Automated Fund Distribution: Castler's dashboard/API functionality will help the automation of Fund distribution from entities' Escrow account following the IBC's set order of priority for stakeholders so that there is no delay or discrepancies.
Dispute Resolution: Although disputes can still occur, escrow for liquidation has a clear audit trail that aids in resolving disputes efficiently, reducing errors in fund distribution.
