A multi-billion dollar Fortune 500 company that serves health plans and other managed care organizations, employers, third-party administrators, and governmental agencies in the administration of pharmacy benefits and other specialty areas of healthcare provides a clear example of surprising unknown assets.
The company had been acquisitive over the years and recognized that it likely had unknown assets for which it could not devote its time or resources to recover on its own. An executive who had previous experience with Oak Point joined the company and recommended that it enter into a sale of its remnant assets to Oak Point to capture any potential lost value.
If any predecessors had locations located in rural areas, it is likely that they received utility service from an electric cooperative. Customers typically are entitled to a rebate – called a patronage credit or distribution – typically paid 20-25 years after the date of service.
If predecessor entities (or their predecessors) were policy-holders with insurers that demutualized in the late 90’s they were entitled to receive shares of public stock. Many didn’t pick up these shares.
If a predecessor had old locations that completed a build-out at any time, certain municipalities likely had required sewer, water, or utility bonds or deposits to be held for an extended period – typically 20 or 30 years.
If any acquired entities or divisions had locations located in rural areas, it is likely that they received utility service from an electric cooperative. Customers typically are entitled to a rebate – called a patronage credit or distribution – typically paid 20-25 years after the date of service.
If acquired entities or divisions had old locations that completed a build-out at any time, certain municipalities likely had required sewer, water, or utility bonds or deposits to be held for an extended period – typically 20 or 30 years.
No one maintains decades of old company purchase records – especially from old acquired entities or divisions, like “old school” CRT computer monitors, computer memory and chips, overseas flights, many different food products, and various chemicals.
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