Case Overview

Flexible and Instapay were privately-held, asset-based lending and factoring companies focused on the transportation and staffing industries. After two successful competitive auctions, the portfolio assets were sold for more than $85 million, allowing for two asset sales within the first seven weeks of the bankruptcy cases, preserving the portfolio value of the assets and enabling the retirement of all senior secured debt and the efficient liquidation of remaining assets to maximize distribution to creditors.