Accounts Receivable Management Featured Article

Hilco Trading Announces Formation of Hilco Receivables

January 18, 2013

The newly formed Hilco Receivables unit by Hilco Trading LLC, a provider of tangible and intangible asset monetization solutions, is purported to offer contingency fee collection and portfolio acquisition solutions to the entire North American and Europe region on non-performing and under-performing commercial debt.

Located in Northbrook, Illinois, a northern Chicago suburb, the unit will have Jay Stone as the CEO. It is also stated to be a BBB Accredited Business and is fully insured and licensed to safeguard clients.

Jeff Hecktman, chairman and CEO of Hilco Trading LLC commented, “We are returning to the receivables business at this time because we uniquely understand the marketplace and the needs of our financial and corporate customers. This is another service for us to help customers maximize the value of any non-performing asset they may have in their portfolio as a natural extension of our overall Hilco offering. Our original receivables business quickly established itself as an industry leader until we sold the company in 2007, and we believe it is an important practice in our overall suite of valuation and monetization services.”

Hilco claimed that its due diligence for evaluating the net realizable value can be broken down by a company’s various business lines and includes an estimate of how long it will take to complete collections, and of the related costs associated with doing so. The new unit should assess net resizable value of a company’s account receivable containing gross collections over the expected life span of the receivables minus the cost associated with collecting the receivables.

Hecktman added that Stone, who is from a seasoned management team from Streamboat Partners, saw the opportunity to deploy large amounts of capital for portfolio acquisitions and his experience and leadership will enable him to repeat his past success.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Miami 2013, Jan 29- Feb. 1 in Miami, Florida.  Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.




Edited by Brooke Neuman

Article comments powered by Disqus

Related Accounts Receivable Management Articles

Pew Charitable Trust Releases Analysis of Military Financial Institutions

The Pew Charitable Trusts, a global not-for-profit that completes global research and analyzes public policy, announced near the end of October that it had completed its first evaluation of checking account practices within banks and credit unions that provide services for customers at military bases. Overall, it analyzed 18 of the 31 Association of Military Banks of America banks and 111 of the 134 Defense Credit Union Council credit unions at military sites. [ Read More ]
10/30/2014

Accounting Firms Take Note: Five Trends to Hit the Industry

A new report has emerged that makes one thing clear: the accounting industry has about five clear trends about to hit. From the largest of corporate accounting ventures to the simplest, key industry trends are set to arrive and pose opportunity for those who pay attention, and hazard for those that don't. [ Read More ]
10/29/2014

Accounting Firm Receives $100,000 in Consulting through University Competition

The Harvard vs. MIT Case Competition takes place every year to pit graduate students and postdoctoral fellows against each other to solve a real-life business challenge. Students from both universities generate answers to problems that affect an actual business; this year's chosen business was the accounting firm, Cloudsource Accounting. [ Read More ]
10/29/2014

Clayco Selects DataServ to Automate, Streamline AP Process

Clayco Inc., a full-service real estate, architecture, engineering, design-build and construction firm, has selected DataServ for accounts payable (AP) automation. [ Read More ]
10/24/2014
FREE Accounts Receivable Management enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!