Aryza and Parklawn Group Form Strategic Partnership to Enhance Aryza Insolv Offering in Canada
Aryza Group, a leading provider of financial software solutions, has announced its strategic partnership with Parklawn Group, renowned specialists in secure storage and transportation solutions for the insolvency and restructuring community in Canada. This collaboration aims to seamlessly integrate Parklawn Group’s capabilities into Aryza’s Insolvency offering (Aryza Insolv), reinforcing the commitment to delivering exceptional value to their clients.
Parklawn Group handles assets for chartered insolvency and restructuring professionals and other affiliates working within the parameters of the Bankruptcy and Insolvency Act in Canada. The company’s core focus lies in effectively managing voluntarily relinquished assets by an insolvent consumer or business during insolvency proceedings.
Parklawn Group acts as a custodian for these assets, ensuring they are safeguarded and ultimately returned to creditors. They also provide a smoother, more efficient process for trustees and administrators while alleviating many of the burdens creditors face throughout the process.
This strategic alliance is driven by the shared vision of enhancing efficiency and value in the insolvency sector. By integrating Parklawn Group’s services with the Aryza Insolv software, trustees and administrators will experience a significant reduction in the time, effort, and friction associated with asset return to creditors, addressing challenges like evasive debtors.
This partnership provides a value-added service to Licensed Insolvency Trustees and Administrators but also fulfils their critical obligations to the Office of the Superintendent of Bankruptcy (OSB) and creditors, based on each provincial legislation, while also enhancing the overall insolvency ecosystem.
Aryza Insolv stands as a comprehensive corporate insolvency case management software, catering to the needs of professional restructuring firms. This solution promotes a connected, flexible, and results-driven approach, offering an end-to-end solution to streamline corporate insolvency processes.
Aryza Insolv facilitates efficiency for businesses and their customers through a user-friendly interface, guiding Insolvency Practitioners to find the best route for customers through an automated process, saving them time and money. The software ensures compliance with statutory tasks and the latest legislative changes whilst significantly expediting the asset return process for creditors.
Recognised by banks, The Ministry of the Attorney General, and trustees, Parklawn Group’s certified appraisal capabilities provide fair market valuations for assets involved in proposals or bankruptcies. With appraisals being completed within 24 hours, this precision aids the trustee and insolvent consumers, empowering them to pursue filing.
Aaron Brown, Managing Director at Parklawn Group said:
“By seamlessly integrating Parklawn Group’s specialised capabilities into the Aryza Insolv offering, we are poised to deliver unparalleled value to our clients. Parklawn Group’s expertise, coupled with Aryza’s innovation, forms a dynamic partnership that is set to redefine industry standards and drive remarkable outcomes.”
Brent Reuter, General Manager of Aryza North America commented:
“Aryza and Parklawn Group’s partnership is rooted in shared values of efficiency, transparency, and exceptional service. We recognise Parklawn Group’s quick, efficient, and ‘over-communicative’ approach as a valuable asset in our collaborative efforts and this partnership exemplifies our commitment to providing comprehensive, streamlined solutions for the insolvency landscape.”