CONTINUING Education Opportunities

(Continued from cover)

Over the course of nearly four decades, DWC has achieved successful outcomes in a wide variety of projects and assignments. To name a few:

Given today’s dynamic market environment and an anticipated uptick in turnaround and receivership assignments, Douglas Wilson Companies is pleased to share continuing legal education (CLE) opportunities on the topic of receiverships.

Douglas Wilson Companies’ team of experts offer 30 years of experience as a court-appointed receiver and fiduciary, including handling highly-complex assignments across the U.S., in both state and federal courts.

With this experience and expertise, DWC’s team is available to provide in-office CLE presentations on the topic of receivership. Please contact us to learn more about these opportunities, or to schedule an in-office CLE receivership presentation given by Douglas Wilson Companies.

JL Furnishings: In this California state equity receivership, DWC supported the 500-employee JL Furnishings operating company, which was, at the time, the second-largest custom furniture maker for the hospitality industry. With $80 million in sales at its peak, the company soon found itself unable to service its debt with a large international money center bank. As an equity receiver, DWC stepped in to resolve tax issues, and manage employees and ongoing litigation issues, all while overseeing the liquidation of the company’s inventory and assets.

China Basin Landing: Under a development services agreement, DWC was retained to oversee all aspects of repositioning China Basin Landing, a 675,000-square-foot office complex on San Francisco’s waterfront. The property regained occupancy from 70% to 91% in 18 months before selling for $85 million under DWC’s leadership.

Federal Ponzi Scheme Receivership: DWC President Michele Vives currently is acting as receiver in a federally regulated billion-dollar ponzi scheme involving hundreds of investors.

NOAA: As agent for receiver, DWC was tasked with completing construction of the 268,762-square foot National Oceanic and Atmospheric Administration office and research facility adjacent to the University of Maryland, including settling all project disputes, completing funding requirements and ultimately orchestrating the sale of the property.

“We know how to navigate both state and federal courts,” Wilson says. “Through the years, this means we also have held numerous roles in bankruptcy court including as liquidating trustee, examiner and off-panel Chapter 11 trustee, in addition to our duties as a receiver. We may serve in some cases as a Chief Restructuring Officer (CRO) as needed.”

Consistent, Counter-Cyclical Approach

Because the market demands different services depending on the economic cycle, the company developed a unique counter-cyclical approach: in times of distress, DWC engages its clients largely in a turnaround capacity. When the economy is stable or is growing, DWC leverages its experience to advise and engage clients on positioning for the future.

Given DWC’s many years providing a variety of services related to real estate and business operations, the company is also uniquely suited to advise clients in areas such as land use, entitlements, and positioning owned property for its highest and best use.

“Whether we are operating as an advisor or as an owner’s representative, DWC is equipped to act in the best interests of our clients because we have been in their shoes,” says DWC President Michele Vives. “Having developed our own projects during growth cycles and having managed turnaround properties during downturns, we have an unmatched perspective that enables us to provide optimal solutions for real estate owners, lenders and other stakeholders no matter where we are in the economic cycle.”

To assist families and land owners with their real estate planning needs, DWC launched its Legacy Real Estate platform in 2017. Led by Vives, this division supports family offices, estate planning attorneys, wealth managers and other advisors by providing the niche service of real estate advisory.

“We know there are many advisors providing services related to investment portfolios and estate planning in the Great Wealth Transfer, but found there was a huge under-served need among families who manage real estate and require expertise as they position themselves for the future,” Vives says. “We take a very customized approach to determine the highest and best use — whatever that may mean for a particular family or ownership group.”

Long-Term Economic Perspective

In addition to DWC’s turnaround and advisory expertise, working with the company means gaining access to its unbiased and critical understanding of — and ability to navigate — economic cycles.

With today’s indicators showing inconsistency and with interest rates leading to a capital impasse for many businesses and families, the current situation is a time to rethink, right-size, and reposition.

“A vast amount of our work is from referrals, based on our reputation of being transparent and collaborative in all dealings,” Wilson says. “We step into complex and difficult situations to bring in a voice of reason and a steady hand. With the uncertainties facing the economy ahead, we are well positioned to assist our clients — whatever their needs may be.”