Carmelo A. Gonzalez
Barry E. Mukamal was appointed by the Bankruptcy Court as Examiner this real estate developer/operator of residential and commercial properties. His duties included a forensic investigation of the real estate operation in order to trace a significant amount of cash collateral which was “missing.” He evaluated concerns relative to the condition of 6 operating commercial properties, 46 occupied residential homes and 33 lots and interrupted construction projects. The primary objective of the examination was to provide a report to the Bankruptcy Court addressing the following issues: (i) should a Chapter 11 Trustee be appointed; (ii) was the case viable in Chapter 11?; (iii) evaluate the best way to proceed in the case; (v) provide a recommendation whether the Examiner should be discharged and (iv) should the case be converted or dismissed.
After consideration of the Examiner’s full and complete report, submitted within severe time constraints, the Court appointed a Trustee to safeguard all assets of the estate.