DHP Holdings II Corporation, et al. (DHP)

DHP Holdings II Corporation, et al. (DHP)

DHP Holdings II Corporation, and its affiliated debtor entities (Collectively "DHP"), filed for Chapter 11 bankruptcy protection on December 29, 2008, with intentions of performing an orderly wind down of its business. DHP operated under Chapter 11 for approximately twenty months, ultimately converting to Chapter 7 on August 2, 2010.

In addition to miscellaneous cash on hand, and refunds available to the Chapter 7 estate, the primary assets of DHP included:

  • Drawback Claims re: US Customs
  • Workers Compensation Security Deposits with National Union Fire Insurance Company
  • HKL Tax Escrow New York Mellon
  • Miscellaneous Accounts Receivable

At or around the time of conversion, the combined estimated value of the assets above was estimated to be $8,143,606.45.

The Trustee has been working with third party consultants to collect security deposits with the National Union Fire Insurance Company. Currently, it is not believed that there will be any significant collections.

The remaining assets of DHP, including estimated recoveries from ongoing avoidance actions, are less than $10 million. The reporting requirements for Chapter 7 Large Cases do not apply.