Bentley Bay

In re: Florida Development Associates, Ltd. (Bentley Bay), Bankruptcy Court, Southern District of Florida, Miami Division.

Firm appointed by the Bankruptcy Court to serve as Plan Administrator, replacing the principal developer of an interrupted construction project. The project is comprised of two partially completed (approximately 65%), twenty-five story, high-rise condominium towers located in South Beach, Florida. Duties included (i) completion of approximately $25 million of construction; (ii) management and oversight of the General Contractor, subcontractors, engineers and architect; (iii) detect, negotiate and remedy more than $9 million of construction defects; (iv) oversee municipal inspections and obtain certificates of occupancy; (v) manage the Homeowner Association turnover and claims process in accordance with Florida Statute 718; (vi) sales and marketing of over $30 million of unsold condominium units; (vii) oversee more than $90 million of condominium sales closings; (viii) sale and closing of $5.4 million of commercial retail space and marina rights; (ix) manage litigation; and (x) distributed approximately $92 million to creditors.