Forensic Financial Partners specializes in Chapter 11
reorganizations for debtors and creditors' committees and Chapter 7
cases, workouts and liquidations, and forensic investigations
concerning diversion of assets, bankruptcy fraud and misappropriation
We provide management and assistance with Chapter 11 reorganizations for debtors and creditors' committees and Chapter 7 cases, liquidations and workouts and liquidations, and related forensic investigations concerning bankruptcy fraud and asset diversion and misappropriation. Our associates have served as receivers and have extensive experience negotiating settlements and providing expert testimony.
We offer a wide range of appraisal services to include fair market
value appraisals for enterprises, assessment of damages in
litigation, tax purposes, estate and trust compliance, and fair value
accounting for FASB compliance.
We specialize in appraisals of closely held non-public entities. Business appraisals can be required for banking, insurance, stock option grants, intergenerational transfers, internal strategic planning, C- to S- Corporation conversions, mergers and acquisitions, joint ventures, and other purposes. We use the latest valuation techniques, and consider both internal operations and the external business environment when evaluating the company. Our associates are experienced in working with government authorities.
The valuation of business enterprises and assets is often a key component of litigation and negotiation. Our independent opinion of value is presented in a detailed and comprehensive report suitable for business use or presentation to taxing authorities, or simplified for litigation purposes so that a trier of fact has a clear understanding of the support used to substantiate our opinion.
Our associates have extensive experience in large, complex business litigation, including forensic accounting and investigation, business valuation, economic loss analysis, and damages calculations. Representative cases include:
Our goal is to work with clients and the facts of the matter to expeditiously develop robust and justifiable expert opinions, and to assist our clients and counsel with complex accounting investigations and concepts.
The associates of Forensic Financial Partners, LLC have successfully
participated in and directed in excess of one hundred significant
Directors' and Officers' liability claims. Much of this litigation
involved derivative claims against officers by the Resolution Trust
Corporation ("RTC") and Federal Deposit Insurance Corporation
("FDIC") under the Financial Institution Reform, Recovery and
Enforcement Act of 1989 (FIRREA).
Our associate, James Dudine, was formerly Director of the Office of Investigations for the RTC during the Savings and Loan ("S&L") Crisis of the late 1980's and early 1990's. Mr. Dudine directed investigations of each failed thrift institution to determine the extent of malfeasance and to bring civil recovery proceedings against directors, officers and other professionals whose misconduct caused losses to the taxpayers. He initiated and directed the RTC's nationwide investigative program establishing national policy and overseeing regional and field staff located throughout the country. The highly successful effort returned over $2.5 billion to the US Treasury. On several occasions, Mr. Dudine also testified before Congress the RTC's Oversight Board, and through his leadership promoted information sharing among Federal regulatory authorities, the US Department of Justice, FBI and US Treasury resulting in the successful coordination of parallel civil and criminal recovery proceedings.
Our associate, Gary Watts, was initially hired as a senior member of the "Drexel Task Force" to investigate and litigate the suit filed by the FDIC and RTC against Michael Milken and Drexel relating to their involvement in the S&L crisis. The task force's actions ultimately achieved a $1 billion settlement. Mr. Watts went on to co-organize and manage the RTC's Office of Special Investigations. After the dissolution of the RTC in 1996, Mr. Watts continued to work as a Department Manager for the FDIC until 1998, where he conducted forensic accounting and fraud investigations of failed financial entities. He has extensively worked with the SEC, FBI and the Justice Department to thoroughly review and manage criminal financial fraud cases. He was also a member of the Securities Working Group, tasked with reviewing all major securities matters. His experience includes high-profile financial investigations involving top government officials and leading financial institutions. He personally identified and resolved previously undetected fraud issues, while expanding fidelity bond insurance cases from $500,000 to $100 million.
FFP performs comprehensive verifications of an organization's adherence to regulatory guidelines and contractual requirements. We investigate, review, and reconstruct complex transactions and accounting records. The precise nature of a compliance audit will vary depending upon the client's needs, and whether the organization is a government agency, public or private company, or not-for-profit organization.