KANSAS CITY, Kan., Jan. 7, 2010 (GLOBE NEWSWIRE) -- Epiq Systems, Inc. (Nasdaq:EPIQ), a leading provider of technology solutions for the legal profession, today reported that it attained the top market share for number of new corporate restructuring engagements during 2009. The company has expanded its capacity to support increased volumes and begins 2010 with a strong inventory of cases in the early stages of administration while continuing to develop a robust pipeline of prospective new matters among anticipated 2010 filings.
Epiq was retained on signature engagements throughout 2009 from clients in a wide variety of industries. Select retentions included Chrysler, Thornburg Mortgage, Lyondell Chemical, Capmark Financial, BankUnited Financial, Nortel Networks, Smurfit-Stone Container and AbitibiBowater. Chapter 11 matters are frequently complex, multi-year engagements that provide enhanced financial visibility into future periods.
As previously reported, bankruptcy filings increased 34% over the prior year for the government's fiscal year ended September 30, 2009, exceeding 1.4 million according to the Administrative Office of the U.S. Courts. The quarter ended September 30, 2009 had more new bankruptcy filings than any quarter since the enactment of new bankruptcy legislation in 2005.
Tom W. Olofson, chairman and CEO, and Christopher E. Olofson, president and COO of Epiq Systems stated, "Our bankruptcy group continues to demonstrate industry leadership in each of Chapter 7, 11 and 13 matters. Our Chapter 11 market leadership position reflects our commitment and capabilities in meeting the challenges of the size, number and complexity of corporate restructuring filings. In addition, our trustee services deposit portfolio reached an all time high of $2.0 billion in the fourth quarter of 2009."
About Epiq Systems
Epiq Systems is a leading global provider of integrated technology solutions for the legal profession. Our solutions streamline the administration of bankruptcy, litigation, financial transactions and regulatory compliance matters. We offer innovative technology solutions for electronic discovery, document review, legal notification, claims administration and controlled disbursement of funds. Our clients include leading law firms, corporate legal departments, bankruptcy trustees, government agencies and other professional advisors who require innovative technology, responsive service and deep subject-matter expertise.
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