$200MM+ EB-5 Commercial Real Estate Litigation

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• Dispute regarding $200MM+ unpaid contractor and subcontractor secured claims against the owner / developer of a $2BN+ mixed-use commercial / residential project in Los Angeles, CA
• Owner / developer financing included funding from U.S. EB-5 Investment Program
• B&A is engaged as a forensic accountant for the plaintiff to investigate the defendants’ sources and uses of cash and potential operating illegalities regarding the EB-5 program
• The case regarding the priority of secured claims is pending federal and state court rulings 

Professional Malpractice Defense

• B&A is serving as a subject matter expert for an accountant malpractice case resulting from a partnership dispute
• B&A supports the CPA / defendant‘s position that it had no ethical or fiduciary duty to disclose non-client information to the plaintiff
• B&A has provided deposition testimony and awaits testifying in state court during 2024 

Assignment for the Benefit of Creditors (ABC)  

• A national sporting-goods company defaulted on the terms of its asset-based loan from a national commercial bank
• B&A was engaged to inspect and evaluate the reported collateral and report to the bank
• B&A’s procedures identified improper payments, overstated inventory values, and inconsistencies in collateral reporting
• The debtor ultimately agreed to an ABC to effectuate the wind down of the business
• The lender recovered 100% of its outstanding loan balance 
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100% Loan Recovery from Distressed Retailer

• A specialty outdoor / recreational clothing retailer selling via Amazon, its website, and a retail store defaulted on its bank loan
• B&A was engaged by the lender to assist the distressed borrower
• B&A assisted in preparing and monitoring 13-week cash flow reporting for the bank and advised the borrower regarding financial forecasting, business planning, alternative sales channels, and selling to a strategic competitor
• The borrower determined operating its retail store and competing effectively on Amazon’s price-based model were not feasible and decided to scale down the business
• The lender recovered 100% of its outstanding principal 

Communications Company



• National equity firm engaged B&A to assess the earnings of a start-up communications company
• Due to a large disparity, B&A’s QofE analysis focused on free cash flow vs. reported EBITDA
• B&A analyzed Capex investment, customer churn and profitability by service offering, and cash-to-revenue proof, in addition to customary diligence
• Findings and recommendations were confirmatory for the investor and used for credit term negotiations with the target company

National Staffing Firm



• B&A was engaged by an alternative lender to investigate the earnings of a national staffing firm
• Routine diligence procedures identified several red flags
• The lender decided to not pursue the target due to our inability to complete our procedures in a timely manner and identification of other operational inconsistencies

CFTC Receivership



• B&A continued to provide forensic accounting services to the Receiver recommended by the CFTC regarding a multi-year receivership of a numismatic coins and gold and silver bullion seller
• The Receiver has used B&A’s forensic analysis to help identify sources and uses of operating cash flows and identify potential claw back claims
• The Receiver continues to utilize B&A to manage the ongoing investigation of the litigant

SEC Receivership - Ponzi Schemes

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• B&A continued to serve as receiver of two separate companies found by the SEC to have conducted Ponzi schemes
• B&A concluded its respective forensic investigations and is in the process of monetizing claw back claims and pursuing other litigation to benefit the receivership estates
• The 45% projected return to investors for one of the matters is double the value of investor accounts prior to the receivership