Our Experience
Champlain Towers South Condominium Association, Inc. - Receiver
Served as receiver following the horrific collapse of the Champlain Tower South Condominium in Surfside, Florida, in June 2021. The case is pending in the Circuit Court of the Eleventh Judicial Circuit in and for Miami-Dade County, Florida.
Woodbridge Group of Companies - Liquidating Trustee
Appointed by the SEC to the Board of Managers, and subsequently as liquidating trustee, of this group of companies accused of defrauding investors of $1.2 billion. The appointment arose from a settlement that resolved motions filed by the SEC and the Unsecured Creditors Committee in the United States Bankruptcy Court for the District of Delaware, seeking to oust the debtors’ current management in favor of a trustee.
The settlement also prevented the appointment of a receiver in a case commenced by the SEC against the debtors in the United States District Court for the Southern District of Florida, accusing the debtors of conducting a massive Ponzi scheme.
The settlement also prevented the appointment of a receiver in a case commenced by the SEC against the debtors in the United States District Court for the Southern District of Florida, accusing the debtors of conducting a massive Ponzi scheme.
Jay Peak, Inc. and Q Resorts, Inc. – Receiver
Appointed receiver by the United States District Court for the Southern District of Florida over several ski resorts located in Northern Vermont in the largest EB-5 fraud in the history of the United States that involved more than 800 investors being owed in excess of $400 million.
A subsequent arrangement secured a $150 million settlement with Raymond James, which was announced in a press conference with Vermont Governor Phil Scott, a year after the case was filed. In negotiating the settlement, the recovered investors’ stolen money, as well as all past-due trade debt and contractor claims against the resort, are to be paid in full. In addition, the settlement funds allow for the completion of the construction of the Jay Peak Resort, considered northern Vermont’s largest employer.
A subsequent arrangement secured a $150 million settlement with Raymond James, which was announced in a press conference with Vermont Governor Phil Scott, a year after the case was filed. In negotiating the settlement, the recovered investors’ stolen money, as well as all past-due trade debt and contractor claims against the resort, are to be paid in full. In addition, the settlement funds allow for the completion of the construction of the Jay Peak Resort, considered northern Vermont’s largest employer.
GWG Holdings, Inc. – Litigation Trustee
Served as litigation trustee of a litigation trust that arose out of the bankruptcy of GWG Holdings and its related entities after allegations of an approximate billion-dollar fraud. We oversaw and pursued all litigations for the benefit of the creditors.
Bed Bath & Beyond – Plan Administrator
Serving as Plan Administrator for the Chapter 11 plan of Bed Bath & Beyond. Responsible for overseeing the winding down of the company and all litigation.
True Value – Plan Administrator
Serving as Plan Administrator during the wind-down and liquidation of the remaining assets of True Value, a hardware store chain with 4,500 locations and $10 billion in total retail sales globally.
Rothstein Rosenfeldt Adler – Liquidating Trustee
Represented the Official Committee of Unsecured Creditors in the Rothstein Rosenfeldt Adler bankruptcy case, which involved the liquidation of a law firm engaged in a $1.2 billion Ponzi scheme. Subsequently appointed liquidating trustee of the Rothstein Rosenfeldt Adler Liquidating Trust to oversee all distributions to the creditors and handle litigation on behalf of the Liquidating Trust, which had a one-hundred percent payout to all general unsecured creditors.
Life Partners Position Holder Trust – Trustee
Appointed as the trustee of the Life Partners Position Holder Trust, which was created through the reorganization plan of Life Partners, Inc. As of the confirmation date, LPI had a portfolio of over 3,000 life insurance policies, which it sold for more than 100,000 interests to 22,000 investors. The Position Holder Trust holds all the policies and is responsible for maintaining them for the benefit of investors. The investors hold a variety of interests, including interests in the Trust itself, interests in specific policies held by the Trust, and notes issued by the Trust. (www.lpi-pht.com)
Special Needs Trust Administration – Trustee
Served as trustee after the non-profit organization filed for Chapter 11 bankruptcy. The Special Needs Trust Administration has accused its founder of taking half of the $200 million in trusts that it oversees for disabled people with special medical needs.
Professional Financial Investors, Inc. and Professional Investors Security Fund, Inc. - Independent Director/Liquidating Trustee
Appointed Independent Director (and subsequently Liquidating Trustee) to oversee the bankruptcy of Professional Financial Investors, Inc. and Professional Investors Security Fund, Inc., two entities that engaged in an $850 million Ponzi scheme that defrauded hundreds of investors. The scheme involved the purchase and operation of more than 60 multi-family and commercial buildings in and around San Francisco. The case is pending in the United States Bankruptcy Court for the Northern District of California.
Worldwide Entertainment, Inc – Receiver
Appointed receiver by the United States District Court for the Southern District of Florida over The Entertainment Group Fund, Inc., and American Enterprises, Inc., a group of entertainment companies, including the world’s second largest independent concert promoter. The plan aimed to operate and liquidate diverse entertainment assets, including venues, shows, movies, and other intellectual property, to repay approximately 3,750 investors to whom the group owed more than $300 million.
Federal Employee Benefits Group, Inc. and F&S Asset Management, Inc. – Receiver
Appointed receiver by Chief Judge of the United States District Court for the Southern District of Florida at the request of the Securities and Exchange Commission over two entities engaged in a $50 million Ponzi scheme, which victimized approximately 300 FBI, DEA, and ICE agents in connection with a non-existent bond fund.
Berman Mortgage Corporation – Receiver
Appointed receiver by the Circuit Court in Miami, Florida, over a large mortgage origination business with approximately 650 investors and total mortgages and/or real estate developments valued at more than $200 million.
MAMC Incorporated – Receiver
Appointed receiver by the Circuit Court in Miami, Florida, over a business engaged in the servicing of more than $200 million in mortgages on behalf of approximately 650 lenders.
Home Equity Mortgage Corporation – Receiver
Appointed receiver by the Circuit Court in Miami, Florida, over a company engaged in the business of originating and servicing over $200 million in mortgages on behalf of approximately 800 investors.
AB Financing & Investments, Inc. – Receiver
Appointed receiver by the United States District Court for the Southern District of Florida over a company engaged in an $80 million Ponzi scheme. As the receiver, we were tasked to liquidate six large commercial properties, including hotels and office buildings.
Ware Enterprises and Investments, Inc. – Receiver
Appointed receiver by the United States District Court for the Middle District of Florida over an investment firm engaged in a $30 million Ponzi scheme.
EB-5 Fraud – Receiver
Served as the receiver over a $13 million securities fraud that arose out of material misrepresentations made by an EB-5 Regional Center and its affiliated entities.
Ancillary Receivership – Receiver
As the Ancillary receiver to a Washington State receiver, we are to liquidate a 137-acre tract of land in Harris County, Texas.
Ticket Reserve, Inc. and its subsidiaries – Receiver
Acted as the receiver for a multi-million dollar securities enforcement action brought by the SEC and involved securities sold by a SaaS provider operating markets for future options in college football games.
Simple Health Plans – Receiver
Appointed at the FTC's request by the United States District Court for the Southern District of Florida over a company that allegedly collected more than $100 million from tens of thousands of consumers who were provided with worthless insurance plans and were left uninsured.
Retirement Value LLC – Receiver
Retirement Value raised more than $80 million in eleven months by selling interests in life settlements to more than 1,100 investors. The company’s primary asset was a portfolio of life insurance policies; however, it had insufficient reserve funds to cover the premiums.
By restructuring the investment setup so that all investors have claims against the entire pool, we enabled the portfolio to self-fund without any additional capital. As a result, we expect to be able to return between 73% and 100% of the investor’s money, with 14% already returned. Had we liquidated the portfolio, we would have been able to return only about 30%. Additionally, we have successfully recovered approximately $13 million from those involved in the fraud.
By restructuring the investment setup so that all investors have claims against the entire pool, we enabled the portfolio to self-fund without any additional capital. As a result, we expect to be able to return between 73% and 100% of the investor’s money, with 14% already returned. Had we liquidated the portfolio, we would have been able to return only about 30%. Additionally, we have successfully recovered approximately $13 million from those involved in the fraud.
USA Now LLC – Receiver
Appointed at the request of the SEC, we took charge of an EB-5 regional center that had fraudulently raised over $13 million from Mexican and Nigerian investors seeking investor visas. Recognizing that the touted investments were not viable and could not achieve their employment goals, we terminated the project. We negotiated the return of all capital advanced in support of the project.
We also recovered an additional $450,000 from the defendant’s principal after our investigation revealed that he secreted a $500,000 cash deposit from an investor. To recover the funds, we sought and received a contempt order directing that the principal be jailed until he returned the money.
We also recovered an additional $450,000 from the defendant’s principal after our investigation revealed that he secreted a $500,000 cash deposit from an investor. To recover the funds, we sought and received a contempt order directing that the principal be jailed until he returned the money.