Thomas C. Hebrank

351 California Street | San Francisco, CA

A Financial District high-rise office building put into receivership by the lender pending owner refinancing. As project manager for the receiver, an E3 team member managed this office building until the borrower successfully refinanced the property.

Calzada Industrial Park Property | Fremont, CA

An E3 principal was named receiver for this industrial park property as the lender ultimately negotiated a refinancing agreement with the borrower.

LeBard Construction | Vallejo, CA

A mixed-use property consisting of commercial and residential buildings. Appointed as receiver, an E3 principal stabilized, cleaned-up, managed, and successfully sold the property through the receivership.

Lexington Office Building | El Cajon, CA

An E3 principal was named receiver for this office building in El Cajon, CA which was in default on its lender loan. The property is currently being marketed for potential disposition through the receivership to satisfy the lender liability.

A Green Alternative | San Diego, CA

An E3 principal was appointed receiver over this retail cannabis dispensary to oversee operations during an ownership dispute. Responsibilities included replacing management and improving operational efficiencies, taking over the state and local licenses, implementing a new state tracking system, completing rent and license renewals, and overseeing litigation matters.

Bellafonte Resort | San Diego, CA

This financially strapped resort and spa was the subject of a prolonged ownership dispute which left the property severely distressed, including illicit activity on the property as well as the presence of squatters. An E3 principal was appointed receiver to stabilize the property as well as sell it. The Receiver was able to navigate the ownership dispute and interference, and accomplish a successful sale of the resort property.

Buechel Chiropractic | San Diego, CA

A practice offering chiropractic and other medical services, including massage, acupuncture, marriage and family therapy, and physical therapy. An E3 principal was appointed Receiver primarily to collect on a bank judgment through the operating profits of the business and to collect accounts receivable.

Butera Furniture | Encinitas, CA

A high-end furniture retailer placed into receivership due to a partnership dispute and a liquidity crisis. As project manager for the receiver, an E3 member operated the business and ultimately oversaw the sale of the business to one of its former partners.

Eastridge Pacific Assisted Living | Sequoia Springs, Siskiyou Springs & Orchard Park, CA

An E3 principal was appointed receiver of these three financially distressed assisted living facilities that involved an accelerated marketing and sale campaign, and a successful sale closing. The Receiver assisted with a challenging transition due to the short sale closing process and additional interference with the closing.

Gregory Canyon Landfill | North County San Diego, CA

An E3 principal was appointed receiver over this 308 acre proposed landfill area in order to stabilize operations, and ensure the timely payment of amounts due creditors pending the foreclosure and sale of the property.

Modern Times Drinks | San Diego, CA

An E3 principal was appointed receiver over this brewery to accomplish a sale of this financial stressed business. After taking over operations, a broker was hired to market the property and a stalking horse bid was obtained. The Receiver then conducted an auction which obtained a significantly higher sales price. Due to regulatory issues regarding liquor licenses, a Transition Services Agreement was entered into with the buyer, to accomplish an orderly sale and the transition of the business licenses.

Mountain View Manor | Desert Hot Springs, CA

An E3 principal was appointed receiver for this latter stage assisted living facility. As Receiver, took over operations, and sold the property to another local assisted living facility operator through the receivership.

Oceanside Ale Works | Oceanside, CA

An E3 principal was appointed Receiver over this closed microbrewery and taste room as the result of a partnership dispute. The Receiver was tasked with selling the property and conducting a forensic accounting review of past partner financial actions and determining a proper distribution of proceeds.

Rambling Oaks Assisted Living | Oklahoma City & Norman, OK

An E3 principal was appointed receiver for these two financially distressed assisted living facilities. As Receiver, took over and stabilized operations, brought in a new operator, returned the facilities to positive cash flow, and oversaw mitigation of deferred maintenance and other operational issues.

Sandstone Financial | San Diego, CA

The company invested in life insurance policies for elderly individuals and then ultimately sold them to investors. An E3 principal oversaw the project on behalf of the Receiver, which involved analyzing the company’s financial operations, and seeking the recovery of assets for investors.

Sunshine Assisted Living Communities | Northridge & Ventura, CA

Two assisted living facilities burdened with substantial deferred maintenance and environmental issues. As receiver, an E3 principal took over operations and engaged licensed operators for the facilities; the project eventually entailed closing down the facilities and relocating the residents.

Tantra Sutra | San Diego, CA

A nightclub located in the downtown Gaslamp District. As project manager for the Receiver, who was appointed during the 2003 Super Bowl hosted in San Diego, an E3 team member oversaw club operations, deliveries and purchases, cash management and ultimately the shutting down or club operations.

Tradelink International Corp. d/b/a Affordable Grease Pumping | San Diego, CA

An E3 principal was appointed as Receiver in Family Court to oversee this grease trap pumping business during a family dispute over ownership and control. The Receiver worked to address numerous deficiencies in the company including cash flow problems, licensing and regulatory issues, payroll and tax issues, as well as theft and fund diversions.

US Logistics | San Diego, CA & Tijuana, Mexico

A logistics company which primarily shipped TVs from Mexico into the United States. As project manager for the receiver, an E3 principal performed forensic review on the entity’s financials, assisted with family law litigation support and wound up physical operations of the company.

Valley Vista Assisted Living | Van Nuys, CA

This assisted living facility was burdened by a challenging location. Prior sales efforts had not been successful, and the property presented a difficult sale opportunity. The Receiver improved occupancy and operations of the facility, and was ultimately successful in selling the facility.

SEC vs. Copeland Wealth Management | Redlands, CA

Appointed as Permanent Receiver by the US District Court of Los Angeles over an alleged Ponzi-like scheme involving a company which operated 1) a $150 million financial advisory business, 2) two private equity and three fixed income investment funds, and 3) 18 real estate limited partnerships. The project involved the sale of the financial advisory business, recovering assets from the private equity and fixed income investment funds, performing a full forensic review of the complete operations of the enterprise, and managing and ultimately selling or otherwise liquidating the real estate investment properties, which are located throughout the United States.

SEC vs. Shidaal Express, Inc. | San Diego, CA

An alleged affinity fraud scheme within the San Diego Somali community. The owner of two check cashing locations solicited investments in $10K increments with the promise of a $500 monthly return on investment. The alleged Ponzi scheme netted $3M in investments. Appointed as Receiver, an E3 principal took possession of and eventually closed the two check cashing stores, investigated the diversion of funds, and attempted recovery of the amounts invested.

SEC vs. Pacific West Capital Group | Los Angeles, CA

Appointed as a federal equity receiver for the PWCG Trust portfolio of 114 life settlement policies with a total maturity value of $234 million. The SEC alleged that Defendant raised over $100 million from investors, and that numerous policies were on the verge of defaulting because insufficient funds were left in reserves to pay premiums in order to prevent the policies from lapsing. The Receiver prepared cash flow forecasts and analyzed the policies in order to determine which policies should be maintained, and which should be sold or surrendered. The Receiver hired a new management company, pooled available funds to maintain the policies in good standing, and arranged interim credit financing.

SEC vs. Western Financial Planning | San Diego, CA

An E3 principal was appointed as Receiver by the US District Court over an alleged investment fraud which raised over $150 million from investors to purchase undeveloped land in Arizona, California, New Mexico and Nevada. The project involves over 3,400 investors in 86 active general partnerships which hold 23 investment properties. The Receiver also had to undertake forensic accounting review to quantify and identify amounts obtained from investors as well as how proceeds were spent by the Defendant. The Receiver has been authorized by the Court to conduct an orderly sale of the investment properties for subsequent distribution of the investors.

Akhtarzad | Los Angeles, CA

An E3 principal was appointed as Chapter 11 Trustee for this individual bankruptcy case that primarily involved ownership interests in 35 commercial properties valued at $236 million. The Trustee was able to negotiate a consensual plan with the primary secured creditors, and have the plan confirmed within 6 months of his appointment. The case had previously languished as a debtor in possession case for the prior 18 months.

EquiPoint Financial | San Diego, CA

A mortgage and financial firm which filed for Chapter 11 bankruptcy protection during the recent real estate downturn. Initially appointed as Accountants for the Outsider Creditors Committee to analyze insider and avoidance claims, to perform a valuation and liquidation plan analysis, and to review litigation claims, an E3 principal was ultimately named as the Plan Trustee to conduct the final liquidation, analysis of claims, and distribution of recovered assets to creditors.

Linett Liquidating Trust | San Diego, CA

An E3 principal was appointed liquidating trustee in this marriage dissolution matter involving significant litigation, the sale of a residence, and the liquidation of a 5,000+ collection of early Americana coinage, currency and other documents and collectibles.

Mark Prebe | Long Beach, CA

An E3 principal was appointed Chapter 11 Trustee for this individual bankruptcy involving a large personal residence, and 8 rental properties, including several transitional homeless properties. In addition to taking over the properties, bringing in a property management company, and being involved in the sale of properties, the Trustee had to conduct a forensic accounting review of the prior reporting of income by the Debtor.

National Debt Defense | San Diego, CA

An E3 principal was appointed Accountants for the Debtor in order to analyze and review financial operating results, prepare forecasts and projections, prepare US Trustee Monthly Operating Reports, and assist in preparing a final Chapter 11 liquidating plan.

Pacers | San Diego, CA

An adult entertainment establishment, whose owners filed for voluntary bankruptcy protection due to litigation. An E3 principal was appointed as Chapter 11 Examiner to investigate related party contracts, and to investigate and opine on whether a related party sale, third party sale, or reorganization was in the best interest of creditors. The recommendation made ultimately resulted in the replacement of the debtor in possession by an independent trustee.

Protron Digital Corporation | Ontario, CA

A company which imported and sold electronic products, including televisions, DVD players and home theatre systems, to retailers. An E3 principal initially managed the project on behalf of the receiver; and then ultimately, placed the company in Chapter 11 bankruptcy protection primarily to preserve preference payment and other insider claims. The project involved the recovery of cash, the liquidation of assets, the closing down of the company’s operations, and a forensic review of how and where funds were diverted from the business.

Richard Cheroske | Lakeside, CA

An E3 principal was appointed as Chapter 11 Trustee in this individual bankruptcy case in order to investigate related party transactions, attempt to settle partnership disputes involving numerous real estate properties and legal entities, and investigate transfers of assets from the bankruptcy estate.

TRI National Development | San Diego, CA & Mexico

An investment scheme which defrauded investors in order to enrich the owners and invest in land and other ventures. As project manager for the Chapter 11 Trustee, an E3 principal administered the bankruptcy estate, filed all necessary reports with the US Trustee and assisted in the liquidation of the real properties located in Mexico.

Ultra-Flex Moulding | Escondido, CA

A flexible residential moulding product manufacturer for building contractors and construction firms. An E3 principal was appointed as Chapter11 Trustee to operate, and ultimately market and sell the company through a Court conducted auction process. The project included analyzing insider and preference payments, and preparing and executing a finalized distribution plan to creditors. The Trustee was able to sell the business for $60,000 more than the original sale previously arranged by the Debtor.

Vail Lake Resort | Temecula, CA

An E3 principal was appointed as Chief Restructuring Officer (“CRO”) for this 10,000 acre resort, RV park and entertainment venue and filed for Chapter 11 protection in order to avoid a taxing authority foreclosure. The CRO managed the property as a debtor in possession during the reorganization. The CRO negotiated a settlement with the principal secured creditors, and sold the property in a $50 Million transaction to the Rancho California Water District. Despite numerous legal and creditor claims, the CRO achieved a plan confirmation paying creditors, including payments to unsecured creditors. The CRO was then appointed as Liquidating Trustee to resolve outstanding issues in the case and make final distributions.

Xelan | San Diego, CA

A Bankruptcy and Accounting project involving companies which provided various investment and insurance services to a network of doctors, until they ran afoul of the IRS and various other federal agencies. As project manager for the receiver, an E3 principal was responsible for depositing of funds, preparing of sources and applications of funds schedule, performing various financial analyses and cash flow projections, performing a true-up of commingled entity operations, and reporting to the US Trustee.

1555 Wabash | Chicago, IL

A multi-family housing tower. E3 was engaged to provide forensic accounting and litigation support involving alleged diversions of funds, unreported revenues and preference payments.

Berry-Hinckley Industries | Reno, NV

A dispute between the buyer and seller of the business. As project manager for the Independent Accountants, an E3 principal managed the determination of the appropriate value of working capital at the time of the sale. The project included the review of thousands of invoices and other supporting documentation, as well as the determination and proper interpretation of the terms of the Purchase and Sale Agreement.

Cypress Abbey

A partnership dispute involving various real estate assets located throughout California, Oregon, Nevada and Hawaii, and one operating business. E3 principals, on behalf of the receiver, performed an in-depth Forensic Accounting review of 13 joint ventures, which involved sorting through over 100,000 pages of source documents and analyzing over 20,000 transactions over a several-year period. The assignment included preparation of an extensive report presenting the review’s findings.

Emerald Bay | Imperial, CA

An incomplete senior housing development project where investor funds were allegedly diverted by the owners of the project. Hired as Forensic Accountant and Expert Witness to support the litigation, an E3 principal reviewed and analyzed construction draws, numerous real estate transactions, investor contributions, and ultimately testified in Court as an expert witness.

Friedman Trust | San Diego, CA

A dispute between beneficiaries over the financial operations in various family trusts. As project manager, two E3 principals performed this forensic review involving 25 legal entities, some containing large real estate assets, to determine that there was sufficient documentation, authorization and proper reporting for all transactions.

Laurus Corp/Ethika Investments | Los Angeles, CA

E3 was engaged to perform a forensic accounting of this investment firm specializing in hospitality investments, focusing on transfers amongst entities and funds as well as owner compensation. In addition, the firm was engaged to assist with entity post-closing tasks including administrative functions, accounts payable, and serving as authorized signatory for committee approved legal agreements and tax returns.

Norman vs. Norman | Reno, NV

A father/son financial dispute. A Special Master assignment involving a Forensic Accounting review of all cash, real estate and partnership transactions involving 10 separate legal entities over an 11-year timeframe. The review consisted of over 2,000 financial and 200 real estate transactions, and culminated in a ruling settling the financial claims of the two parties.

Protron Digital Corp | Ontario, CA

An E3 principal was engaged to provide an expert insolvency report relating to insider preference payments and the diversion of funds for the electronics reseller prior to the company’s receivership and subsequent bankruptcy filing.

Southpeak Interactive, LLC | Dallas, TX

E3 was engaged to provide expert witness services and litigation support relating to lost revenues and other issues relating to the video game maker’s dispute with the distributor.

750 Fifth Ave | San Diego, CA

An E3 principal was appointed Referee for this restaurant/office building in the Gaslamp District in a family dispute matter. The Referee was charged with locating a tenant for the office space, conducting repairs and inspections, and then sell the property.

AMG Property Management | San Diego, CA

An E3 principal was appointed referee for this entity which owned several properties and conducted property management through numerous entities, as a result of family disputes. The Referee was tasked with performing an analysis of property management fees, review of disputed accounting entries, transactions involving the parties, cash reserves, and the compliance with written agreements. The Referee completed his analysis and report, and was brought in to testify as an expert on the findings.

Elite Athletic Center | Chula Vista, CA

An E3 principal was hired as a professional consultant to assist management with a financial analysis of the Olympic training venue that was severely impacted by the covid shutdown restrictions.

Ethika Funds | Los Angeles, CA

An E3 principal was named Independent Director, and then Authorized Signatory for the Ethika Fund Investment Committee and Laurus Corporation, which owned a distressed portfolio of numerous hotel, office and other commercial properties.

FanPics | San Diego, CA

An E3 principal was named Assignee in an Assignment for Benefit of Creditors (“ABC”) to liquidate a state-of-the-art technology company which captured images of sports fans at professional sporting events, including the Staples Center in Los Angeles, CA. The Assignee sold the equipment and all of the rights and patents for the business for $565,000.

Marina Cortez | San Diego, CA

An E3 principal was appointed as a Provision Director to assist this Harbor Island marina resolve pending issues relating to a family ownership dispute. Issues include potential new management, hiring new corporate attorney and accountant, locating a tenant for vacant restaurant space, ongoing litigation, and resolving other family dispute items.

Matthews Signs | San Diego, CA

An E3 principal was appointed as Liquidating Agent to assist in the sale and liquidation of the sign installation company as a result of a family ownership dispute. The Liquidating Agent developed a list of rights and duties, as well as a Plan of Dissolution which resulted in the auction of the company’s assets, after being unable to arrange a sale to one of the competing family members.

Nationwide Home Medical d/b/a Trusted Mobility | San Diego, CA

An E3 principal was named Assignee in an ABC for this medical supply company which primarily sold medical mobility scooters The company had already ceased operations, but the Assignee was engaged to attempt to collect Medicare accounts receivable.

Rancho Soledad Nursery | Rancho Santa Fe, CA + Hilo, HI

An E3 principal was appointed as a Provision Director to assist this large nursery company resolve management issues and claims resulting from a family dispute. After the Court resolved the current board of director composition, the Provisional Director was appointed to resolve outstanding claims made by competing family interests, including a forensic review of financial claims.

Seating Concepts | San Diego, CA & Tijuana, MX

An E3 principal was named Assignee in an ABC for this theater seating manufacturer. The company ceased operations immediately prior to the ABC. The Assignee closed the company’s office and sold the assets. Significant effort went into accounts receivable collections as the largest asset for creditors.

Shield Aviation | San Diego, CA

An E3 principal was engaged as Liquidating Trustee for this technology firm which specialized in unmanned autonomous aircraft after the sale of its assets to Cubic Corp. This seven (7) year engagement is to provide final services involving tax, vendor and investor issues.

X Stream Design | San Diego, CA

An E3 principal was named by the Court as Provisional Director to resolve a deadlocked family dispute involving investments and operational control for this technology firm specializing in point vision video cameras used by security firms and law enforcement agencies. The E3 principal was able to mediate the dispute and was instrumental in arranging a family buyout of the firm.