LEVITT & SONS, LLC
Soneet R. Kapila was selected as Chief Administrator to oversee the development of seven land developments and home building construction projects in different subsidiary entities in Georgia, South Carolina and Florida.
SMF ENERGY CORPORATION
Soneet R. Kapila was appointed Chief Restructuring Officer of SMF to implement strategies to increase revenues and reduce expenses required by a decision to change the Company’s pricing structure. SMF is a leading provider of petroleum product distribution services, transportation logistics and emergency response services to a wide spectrum of industries. SMF operates a fleet of over 200 specialized commercial vehicles from 34 locations serving 11 states. SMF is traded as “FUEL” on the NASDAQ
OLD CORKSCREW PLANTATION, LLC ET AL
Soneet Kapila was appointed Chief Restructuring Officer for this large citrus farming conglomerate in Lee County, Florida. Kapila undertook to oversee the operations of the groves including growing, harvesting and sale of citrus and other fruits until confirmation of a Plan of Reorganization providing for a 100% distribution to unsecured creditors.
BRAY & GILLESPIE
Soneet R. Kapila was appointed Liquidating Trustee/Creditor Agent post-confirmation in this significant bankruptcy matter involving seventy-nine entities in the real estate and hospitality industry. The Bray & Gillespie entities own multiple pieces of real estate including operating hotels, vacant land, and rental properties located along the coast of Daytona Beach in Volusia County. A significant portion of the real estate is direct oceanfront property. This engagement includes monitoring the financial performance and overall operations of the Debtors, assessing the viability of their business operations for reorganization or liquidation purposes and performing a forensic investigation of the past management conduct of the Debtors and their Principals.
FLORIDA EXTRUDERS INTERNATIONAL, INC.
Soneet Kapila served as Chief Restructuring Officer of Florida Extruders International, Inc. (“FEI”). FEI, a vertically integrated manufacturing and distribution business, manufactured patio enclosures and aluminum windows and sliding glass doors. It was considered the second largest manufacturer of these products in Florida and was recognized nationally by the industry as one of the largest residential window producers in the country, according to court document. Soneet Kapila, as CRO, managed the company’s day-to-day operations to maximize the going concern value and consummated a sale of the operations.
SUNCRUZ CASINOS, LLC
Kapila & Company was retained as accountants to
the Chapter 11 Bankruptcy Trustee in the significant "cruises to nowhere" casino
gambling operation in off-shore waters. We assisted the Trustee
and the Bankruptcy Estate in multiple facets of the case including
analysis and investigation of fraudulent transfers and preferences,
claims review, operational monitoring and complex Federal and state
L&H LIQUIDATING TRUST
Kapila & Company
was retained as accountants to Scott L. Baena, Esq., Liquidating
Trustee. Our firm provides services in areas
of litigation support, sophisticated tax matters and claims management.
BANKING CORPORATION/SOUTHEAST BANK, N.A.
Kapila & Company was retained as accountants to the Chapter 7 United States
Bankruptcy Trustee of this $450 million banking corporation. In the pending
case, Kapila & Company is assisting the Trustee in multiple aspects of
case administration including forensic analysis, litigation support, distribution analysis, complex tax consultation and compliance, and ongoing
financial analysis to maximize the return to creditors.
Kapila & Company was retained as accountants and financial consultant
to Jeffrey H. Beck, Liquidating Trustee of the CFN Liquidating Trust.
Corporation and its related subsidiaries (“Conti”) were engaged
in the business of originating, selling, and securitizing “sub-prime” lending
mortgage loans in the residential, commercial and auto industry. Prior to the
bankruptcy, Conti employed approximately 3,000 people nationally. We are assisting
the Liquidating Trustee and his team of professionals in litigation matters,
forensic investigation, claims management, distributions to a creditor body
which exceeds $1 billion, tax compliance, and operational matters including
asset identification, management of information systems and records retention.
SOUTHERN PACIFIC FUNDING CORPORATION
Kapila & Company
was retained as accountants and financial consultants to Jeffrey H. Beck, Liquidating
Trustee of this bankruptcy estate. Southern
Pacific Funding Corporation was a specialty finance company engaged in the
business of originating, selling, and securitizing non-conforming "sub-prime" mortgage
loans. We are assisting the Liquidating Trustee of this multi-million
dollar estate in litigation support, claims management, and distributions to
a creditor body of over $200 million, tax compliance matters, and asset management.
FLOWERS, INC./GERALD STEVENS, INC. ET AL.
R. Kapila and Kapila & Company were appointed "wind down consultants" to
assist in the wind-down of the activities of these Debtors in bankruptcy and
assist in the recovery of unadministered assets. These Debtors were the
United States' largest integrated retailer and marketer of flowers, plants
and complementary gifts. They operated and managed customer-florist interaction
from order generation to order fulfillment, with approximately 300 retail locations.
We assisted in the liquidation analysis for the Plan of Reorganization, and
we are handling all tax compliance matters and the investigation of the voidable
transfers. Following confirmation of the Plan, Kapila was retained as accountant
to the Liquidating Trustee.
Kapila & Company
was retained by BellSouth to provide litigation consulting and forensic accounting
services related to Supra Telecommunications, Inc.,
a Debtor in Chapter 11 bankruptcy.
FINANCIAL FEDERATED TITLE AND TRUST,
Kapila & Company
was retained as accountants to the Chapter 11 Trustee of this $115 million
viatical Ponzi scheme, classified as the largest viatical
fraud in the United States. We assisted the Trustee in investigating and
marshalling the tangled web of transactions and assets.
GENERAL COFFEE CORPORATION (A/K/A CHASE & SANBORN
R. Kapila acted as accountant to the Bankruptcy Trustee of the Creditors' Trust
to analyze preferential and fraudulent transfers. His investigation and analysis
identified multi-million dollars of intricate fraudulent and preferential transfers.
He participated in complex and hotly contested litigation resulting in significant
recoveries. Mr. Kapila gave expert testimony on the issues of voidable transfers
and the proof of insolvency.
ALBERTO DUQUE AND DOMINO INVESTMENTS, INC.
R. Kapila acted as "special accountant" to the Bankruptcy Trustee for
the purpose of proving insolvency of the Debtor. Mr. Kapila's forensic investigation
and analysis helped reconstruct the financial position of the Debtor over several
years. It culminated in Mr. Kapila presenting expert testimony and the recovery
of several million dollars in preferential and fraudulent transfers, all of which
were vigorously litigated by major defendants.
AMOCO OIL COMPANY AND CHEVRON PRODUCTS COMPANY
Kapila & Company was retained as the accountant by these two major corporations
to assist in the litigation against a significant Debtor-In-Possession operation
to protect the financial exposure and collateral of the two corporations. Our
duties involved extensive investigation of the Debtor’s conduct and a
review of management culminating in providing expert testimony in Bankruptcy
Court, and the appointment of a Bankruptcy Trustee.