Most bankruptcy courts have RSS feeds, which allow investors to be instantly notified when a new filing hits the docket. Its is extremely simple to write an application which periodically pings these RSS feeds for changes and emails certain users updates when a new document is filed for a certain case.
The RSS feed displays the document title, case number, and link but to view the document an investor has to pay PACER fees, which are expensive at $0.10 per page. These fees can become quite expensive in a large (or even small) bankruptcy case and essentially prevent smaller firms and investors from accessing important information in ongoing cases. Storage has become infinity cheaper over the past decade, however PACER fees have not changed. Many firms continue to pay hundreds of thousands of dollars per year to view the same documents - when hosting these documents most likely costs under $100 dollars on S3. Many firms have sprung up to arbitrage and share these high fees between multiple firms, such as Reorg Research.
Over the next few months Volmanac will release multiple tools which will allow investors to search and share different filings and documents in an attempt to make the investing and disclosure process more transparent. We want to to add bankruptcy filings to this list of documents (along with SEC filings). If your firm already pays pacer fees / would like alerts / a searchable database please contact us about a partnership.
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