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

Lovell Minnick Injects Over $100 Million to Accelerate Growth at LSQ Funding

Whether a business is well-established or it is a budding startup, finding the necessary funds to continue operations is an issue organizations have to struggle with. Even when everything seems to be going well, an infusion of capital can always ease the financial accountabilities they face. Often times the capital is raised from outside sources, but when that is not possible, the assets within the organization can be accessed to find the monies, which is what LSQ Funding provides. It makes use … [ Read More ]
04/16/2015

GE Healthcare Expands Financial Management Solutions for Healthcare Providers

GE Healthcare, a subsidiary of General Electric delivering transformational medical technologies and services, has released new offerings under its Centricity Solutions for Financial Management suite to address emerging changes in the industry and improve customers' profitability. [ Read More ]
04/14/2015

CFPB Sues Robo-Call Phantom Debt Collection Operators

We all tend to think of them as more annoyance and nuisance than something far more nefarious. However, robo-calls can be causes of immense emotional stress and as a recent lawsuit by the U.S. Consumer Financial Protection Bureau (CFPB) proves, they can also be used in pursuit of unlawful activities. [ Read More ]
04/09/2015

Infor Releases Version 3.7.1 of its Hospitality Management Solution

Michael Guta Accounts Receivable Management Channel While every business benefits by delivering great customer service, for the hospitality industry, it is their life line. This is an industry that thrives on outperforming the competition with more outlandish services, and those establishments that go out of their way to impress their customers have near 100 percent occupancy rates year in and year out. [ Read More ]
04/06/2015

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!