-
As receiver over a
250-unit apartment complex for First Regional Bank, we are
implementing numerous changes to increase occupancy and rent
collections.
-
Simon Consulting is
liquidating 200 high-end marine craft for KeyBank, along with
associated parts, supplies, equipment and a manufacturing plant.
We are recovering various deposits, accounts receivable,
vehicles, equipment, transfers and other collateral and are on
target to exceed recovery expectations.
-
Through our
receivership services, we have successfully restructured the
debts and reorganized the operations of two school districts in
Maricopa and Mojave counties. We have replaced the leadership
teams and the key accounting personnel, liquidated unnecessary
assets, resolved various outstanding claims and overseen the
passage of legislation enabling a longer payback period of debt
repayments.
-
We have operated, reorganized and liquidated a large inert
Phoenix landfill, increasing weekly cash collections and
liquidating the real estate and operating
business for an amount significantly higher than the expected sales
price.
-
For M&I Bank, we held until foreclosure three large residential land parcels in
Maricopa County. We resolved a number of complex problems, including dust control
and squatter issues, and prepared waterfall schedules for post-sale
distributions.
-
We acted as receiver over a bad debt investment Ponzi scheme in which approximately $20
million was raised from
investors throughout the U.S. We oversaw various causes of action,
including fraudulent transfer claims in the recovery of over $6
million. We recovered and distributed 33% of the net investment loss to investors,
with further distributions expected.
-
Simon Consulting is operating
and selling as a going concern a large content-based series of
Internet web sites and related services. Under the receivership,
profits are up significantly over previous years and employee
retention and morale are greatly improved.
-
We were appointed
by Wells Fargo Bank to secure a residential property and protect
if from vandalism by subcontractors.
-
We managed and liquidated
a Mesa, Arizona, commercial office and industrial building.
-
Simon Consulting
served as receiver over, and successfully liquidated, several Eastern
European fighter jets that had been modified for commercial use.
-
Simon Consulting
has served as receiver and/or bankruptcy estate representative
involving numerous
financial fraud matters, including three Ponzi schemes
ranging from $5 million to $50 million. Two of the matters were a result of
administrative actions by the Arizona Corporation Commission.
