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One of the largest combined natural gas and electric energy companies in the U.S.

Project Scope

Revenew was hired to cure individual claims filed against our client while they were undergoing bankruptcy. 98,319 individual claims had been filed with a value of ~$32 billion. Tier 1, Tier 2, Tier 3, and Tier 4 claims (all supplier based) were cured by Revenew. Other claims were cured by the courts (those related to fire damage, loss of life, business interruption, etc.).

Tier 1 = $ 565 Million 
Tier 2 = $ 295 Million 
Tier 3 = $ 45 Million 
Tier 4 = $ 129 Million
Total = $1,034 Million

Revenew’s Approach

We worked in conjunction with our client’s bankruptcy firm, which had been hired by the Board of Directors. Revenew and the bankruptcy firm each had very distinct roles – where the bankruptcy firm’s obligations ended, our client’s obligations began. However, our client was unprepared and unsure of what duties they needed to perform, so we stepped in with highly-skilled cost and claims experts to reduce their financial exposure.

The bankruptcy firm was to review each claim and prepare an initial reconciliation template, determine the legality of claims, and forward claims to Revenew for the cure.

It was Revenew’s responsibility to perform the following tasks:

  • Review each template and claim to identify claimant and attorney
  • Access client’s procurement system to determine owner of contractual relationship with client 
  • Begin the reconciliation process of matching invoices in ERP system to claim amounts
  • Work with client’s line of business representatives and claimant to resolve:
    • Missing and cancelled invoices- Incorrect invoices (pre- and post-petition & interest-bearing)
    • Re-opened PO’s- Issued AFPO’s
    • Goods received in ERP system
    • Ensured “Y block” in ERP system for each valid invoice
    • Ensured upload of each invoice into client’s invoice system- Developed and supported the required and completed workbook templates for court/bankruptcy firm and client accounting team
  • Upon curing completion of all claims, perform data clean up and data migration to bankruptcy firm and client


Through our combined efforts with the bankruptcy firm, we delivered a significant ROI of ~$228 million in reduction of payments (savings) for our client.

We also assisted in clearing and documenting any objections related to the claims. The court has allowed only a two-week window for clearing each objection, and it’s expected that we will have more than 100 objections to address. We anticipate that 100% of the claims we cured will be accepted.