Leading Bankruptcy Administration Firm Adds Preference Analysis Capabilities to Services and Technology Platform
Stretto, a market-leading bankruptcy administration firm serving the corporate- and consumer-bankruptcy industries, has acquired Acumen Recovery Services, LLC, a data-analysis and advisory firm serving attorneys, trustees, and other fiduciaries analyzing, pursuing or defending preferences or other allegedly avoidable transfers in bankruptcy cases. This acquisition expands Stretto’s suite of services designed to support professionals and other stakeholders in streamlining the bankruptcy process.
“In expanding our preference-analysis capabilities and expertise, Stretto takes another important step forward as the leading technology and client-service platform that sits at the center of the bankruptcy ecosystem,” comments Jonathan Carson, co-CEO at Stretto. “We welcome the experts at Acumen to the Stretto team, and we look forward to forging new pathways together to better serve bankruptcy professionals nationwide.”
Founded in 2014 by former corporate-restructuring attorneys Michael Cohen and Dan McElhinney, Acumen assists clients in understanding the value of their preference-action portfolio and in maximizing recoveries. The firm created a proprietary, client-accessible database and analysis software application to simplify data and document management, due-diligence and discovery processing. Through this platform, Acumen provides streamlined analysis and litigation-management services, making it easier for clients to monetize important bankruptcy-estate assets.
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Acumen’s CEO, Michael Cohen, and President/COO, Dan McElhinney, both join Stretto as managing directors. Together, Michael and Dan have over 40 years of combined subject-matter expertise in the corporate-restructuring industry working with law firms, financial and corporate advisors, and other turnaround professionals.
“We share Stretto’s vision to ease administrative burdens of the bankruptcy process with innovative technology and services,” Cohen comments. “We’re excited to join the robust team of bankruptcy experts at Stretto who have created the industry’s most comprehensive portfolio of bankruptcy technology and administrative solutions.”
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