For the first time in Chapter 11 history, the U.S. Bankruptcy Court for the District of Delaware has approved electronic balloting procedures in Pitt Penn Holding Company Inc.
According to a release on Cole, Schotz, Meisel, Forman & Leonard’s website, the firm joined hands with claims and noticing agent UpShot Services to devise the industry’s first such technique using UpShot’s SmartSign.
The technology allows creditors to vote instantaneously online rather than via the traditional method of mailing completed paper forms.
“Our goal in implementing electronic balloting is to bring greater efficiency to the voting and solicitation process for all involved parties,” says Cole, Schotz’s Norman Pernick, the Chapter 11 trustee overseeing the proceedings.
