Assets Under Water

10 Million in safe hands with BELFOR

It never rains but it pours. So much so that a local bank vault in Belgium was completely under water for several days. The insurer turned to BELFOR’s professional services to help bail them out. BELFOR first pumped out the water, then made sure the room temperature and air humidity were kept as low as possible. To restore the affected bonds in the individual safe deposit boxes, BELFOR proposed the use of freeze drying. The insurer agreed. As the documents were extremely valuable, it was decided to test dry a small batch of documents first. And for the very same reason, the insurer assigned us a security officer. A meeting was arranged halfway along a motorway, the best solution for practical and logistical reasons. A handful of the soaked bonds were handed over, what to the outsider must have looked like some sort of clandestine rendezvous set up to exchange important secret documents. And they would not have been far wrong, either – though there was nothing at all clandestine about it. The results of the test drying reassured the insurer who then awarded us the entire contract to restore the bonds.

Constant eye over our shoulder

Even with our wealth of experience, the contract was fairly unusual – essentially because of the extremely high value of the documents. The security officer was there throughout the entire process. We explained to him every step in detail so he could report back to the insurer and the bond owners on the chances of success and the individual stages of the restoration project. Ultimately, he would be the one commissioning us to carry out the restoration project. The operation was completed amid the tightest security – and following a meticulous administrative protocol. It began by emptying the safe-deposit boxes, with each owner having to attend in person. The security officer was on hand each time a client arrived to empty their box. He supervised the handover of the bonds, made written notes and officially commissioned us to dry the documents in each individual case. After this phase, we transported the freeze-dried documents, worth an estimated 10 million euros, in a purpose-built van to the BELFOR facility in Schelle.

Restoration plus security

Security and confidentiality were paramount throughout the entire operation. The security officer was also in attendance to observe the subsequent document drying process. We explained every step of the drying process to him. He in turn was able to reassure the bank and the owners that the valuable documents would not be damaged in any way by these restorative procedures – after all, our aim was to save them. The freeze drying worked to perfection. The documents were then smoothed and disinfected – naturally again under the supervision of the bank and insurer.

Thanks to BELFOR’s unique expertise and facilities, our banking client in Belgium weathered the storm. Nothing beats security coupled with know-how, especially when it’s close at hand!