G-Site Associates
KM was engaged as accountants and financial consultants to the Official Committee of Unsecured Creditors of this real estate and construction partnership involved in the development and sale of single-family homes. We assisted the Committee as financial consultants to monitor the financial operations of the Debtor as well as financial and tax matters relating to the preparation of the Plan of Reorganization and Disclosure Statement. We traced flows of assets to the parties “benefiting”. We also investigated insider relationships and voidable transactions, and developed the proof of insolvency for fraudulent transfer litigation.
Following confirmation, the Committee selected Soneet R. Kapila to be the Post-Confirmation President and CEO of the two corporate general partners of G-Site to implement the Liquidating Plan of Reorganization. He oversaw the construction of all remaining homes and pursued causes of action to recover monetary assets. He vigorously litigated causes of action against several creditors to maximize distribution to the remaining constituents.
