Off the net!
To Our Valued Customers:
I am pleased to report progress regarding Equiguard’s re- organization and claims payments.
Equiguard and Service Net Warranty executed and filed with the bankruptcy court an agreement where, upon bankruptcy court approval, Service Net would purchase the assets of Equiguard. Service Net currently provides warranty and extended service plan administration and services to the world’s most respected brands (for HVAC products and other products). Service Net is owned by HIG Capital, an international private investment firm with $7.5 Billion under management. More about Service Net and H.I.G Capital can be found at http://www.servicenet.com and http://www.higcapital.com.
Last week, the bankruptcy court approved the Temporary Claims Processing Agreement between Equiguard and Assurant. This settlement was driven by the lawsuit that Equiguard filed with the Court to prompt Assurant to pay service provider claims. As a result, we expect valid claims that are submitted pursuant to the previously communicated payment process to be paid by Assurant.
We appreciate your past and future business and thank you for your patience.
Craig Funke CEO