Following is a representative list of engagements and transactions in which our team has been an integral part:
- Court-appointed Receiver for a timeshare vacation resort near Disney World and other Orlando area tourist attractions. Charged with managing all affairs of resort operations and with taking other actions required by law and pursuant to the Court's orders, including formulation of a strategic plan to restructure its financial condition.
- Financial advisor for insolvent building / land development company in Osceola County, Florida. Engaged to prepare valuation / exit strategy and negotiate terms with secured lenders.
- Section 363 sale ($12 million) of substantially all assets of company located in South Carolina and operating in bankruptcy (Chapter 11).
- Financial advisor and forensic analyst for construction lender (major commercial bank) foreclosing on partially-completed 240 unit condominium project in Central Florida.
- Financial advisor for bankrupt estate (Chapter 11) of formerly publicly-traded company with operations in the Southeast U.S. Assets of $185 million (cost basis).
- Conducted an analysis of land development entitlements for the above referenced client which is anticipated to result in aggregate recoveries in excess of $3 million.
- Engaged as business valuation analyst for various purposes including enterprise level acquisitions, financing, litigation, estate/gift tax, ESOP, etc.
- Financial advisor for bondholders (group of institutional investors) with a $30 million investment in a Community Development District (CDD) in Florida. The CDD defaulted on debt service obligations.
- Engaged as business valuation expert in a litigation matter (shareholder oppression case) involving an investment advisory firm for an SEC registered mutual fund.
- Engaged as an expert witness to evaluate damages determined by plaintiff’s expert (to be approximately $30 million) and to provide rebuttal testimony.
- Engaged as an expert witness to determine damages incurred by / business value of a wholesale supply company and to examine allegations of fraud by the company’s lenders.
- Expert witness for plaintiffs in two separate cases involving construction deficiencies with alleged damages exceeding $15 million in each matter.
- Financial advisor for Central Florida medical practice operating in bankruptcy (Chapter 11).
- Administrator for undistributed assets (approx. $2 million) of holding company. Stockholders have been engaged in lengthy litigation.
- Section 363 sale ($18 million) of substantially all assets of company located in Georgia and operating in bankruptcy (Chapter 11).
- Financial advisor for insolvent condominium hotel developer / operator (Florida); Engagement for lender oversight purposes (syndication of commercial banks).
- As CFO and Interim Chief Operating Officer, developed and implemented strategy to restructure the U.S. operations of a Canadian based company (with four separate divisions located in Florida, Arizona, Minnesota and the Carolinas) and divest assets in response to adverse market conditions. Annual U.S. revenues of approximately $250 million.
- Out of court settlement with lender group and international surety company to resolve defaults on substantially all residual unsecured debt of the company ($37 million).
- Acquisition of insolvent company in North Carolina ($28 million). Structured as a stock purchase from a privately-owned company. The transaction resulted in the preservation of significant tax attributes.
- Sale of insolvent company in Tennessee ($25 million). Structured as a stock sale to a publicly traded company.
- Sale of substantially all assets of an insolvent corporation in Florida to a newly formed subsidiary of a privately-owned international company ($38 million).
- Litigation support, forensic accounting and financial analysis for defendant in a lawsuit involving various defaults alleged by previous company owner. Resulted in favorable mediated settlement.
- Acquisition of the operations and substantially all assets of an insolvent company in North Carolina by a newly formed subsidiary of a privately-owned holding company ($46 million).
- Led accounting investigation which revealed numerous irregularities by senior managers / minority owners and ultimately resulted in a settlement agreement providing for repayment of $2 million.
- Litigation support, forensic accounting and financial analysis for plaintiff in a lawsuit to recover a portion of purchaser’s original investment according to a “claw-back” provision of the stock purchase agreement. Resulted in settlement of $1.5 million.
- Accounting investigation uncovered an embezzlement scheme by an employee in the accounting department.
- As CFO of the largest privately-owned homebuilding company in the U.S. (based in Texas), completed a legal entity restructuring to realize substantial annual tax savings. Annual revenues of approximately $600 million.
- Interim CFO for financially distressed company w/ public debt (registered with the SEC). Operations in California and Arizona. Revenues of $130 million+.
- Launched program to deleverage client balance sheet by repurchasing the company’s bonds in a series of open market transactions. The debt instruments were registered with the SEC and trading at a significant discount to par.
- Liquidation of mortgage banking company (California) with high default rate loan portfolio in excess of $100 million.
- Court-approved reorganization plan (state circuit court), which allowed building operations of insolvent company (Florida) to emerge from receivership as a newly formed corporation with a healthy capital structure.
- Interim CFO of the above referenced company,
- Asset management and disposition of a portfolio of apartment projects (1,000+ units) located in Central Florida.
- Restructuring of debt facilities in monetary default with aggregate outstanding principal balances of $92 million.
- Disposition of mortgage notes receivable portfolio (secured by commercial real estate) with aggregate outstanding principal balances of $71 million.
- Examiner / auditor in a court-approved capacity to monitor operations of large/diverse real estate company involved in extensive litigation between lenders and stockholders.
- Forensic accounting revealed numerous fraudulent conveyances by senior managers involving aggregate amounts in excess of $10 million.
- Claims administration for bankrupt estate (Chapter 11) of publicly traded company and subsidiaries. Preparation of reorganization plan and disclosure statement.
- CFO of company operating in Chapter 11. Revenues of $50 million+.
- Claims administration, asset management and financial reporting for 350+ limited partnerships / real estate syndications operating in bankruptcy (Chapter 11). Aggregate assets of $500 million+.
- Financial restructuring plan for a Washington, D.C. based company that defaulted on debentures ($150 million) issued to the U.S. Small Business Administration (SBA).
- Management of audit staff that monitored financial / legal compliance on a portfolio of 60+ insolvent real estate joint ventures operating throughout the U.S.; Structured “workout” terms with general partners and senior secured creditors.
