New York, New York (PressExposure) February 06, 2012 -- NYC Office Suites announced that it is host to a large, high profile bankruptcy estate after a highly competitive selection process. The estate recently moved into "smaller and less expensive" office space at NYC Office Suites' 75,000 square foot facility at 1350 Avenue of the Americas. In these shared offices the Trustee will wind down the estate and adjudicate claims. This is the second bankruptcy estate to maintain offices at the Midtown serviced office space.
Daniel Entwistle, President of NYC Office Suites, said "office business centers like NYC Office Suites' are perfect for situations, like bankruptcies, where flexibility and process control are paramount. Typical terms range from only three months to three years. At each term renewal, if the client chooses to renew, he/she may change his/her office space configurations."
Manhattan temporary offices offer:
Flexibility: As tasks and personnel needs change, so can the prebuilt office space. The office business center provides multiple, changing configurations to include, for example, a large interior Team Room plus several smaller windowed executive offices. The host can also eliminate offices and/or workstations as needs evolve.
Meeting Space: Full-time clients have access to on-demand meeting space in New York of any size. For the many advisor and creditor committee meetings, the office business center can provide catering and other administrative services.
Professional Image: Receptionists answer the phone to project the right image as transitions occur.
Information Technology: The office business center includes IT and telecoms equipment to allow seamless transitions. Capabilities include plug-and-play Internet access and a variety of telephone line porting and other features.
Convenience: The serviced office firm staffs, furnishes and equips all common areas, including lobbies, pantries, lounges and copy rooms
Bankruptcy estates and advisors need flexible office space for: advisor meetings, creditor and stakeholder meetings with presentations, petition and affidavit in support of first day motions preparation, all motion and exhibit preparation, schedules compilation, claims adjudication, document review, settlement discussions, investigations, an Examiner (if appointed), and plan of reorganization / disclosure statement preparation.
Avital Shimshowitz, VP of Sales at NYC Office Suites, said "whether you are rejecting a traditional lease as part of a bankruptcy wind-down, or just looking to work on sensitive projects, issues and investigations in privacy, you will find serviced office space very useful."
Mr. Entwistle concludes, "Bankruptcy cases can turn on a dime. The serviced office client does not need the distraction of excess real estate when involved in complex proceedings."