Appointed as Receiver for multi-location commercial fuel distributorship. Associated properties were located in Show Low and Springerville, Arizona. Resolute acted as Receiver to provide interim management, financial and operational analyses, environmental clean-up and support for the sale process.

Resolute was appointed at the request of the bank for two different receivership actions that occurred concurrently in different counties for the same borrower due to a loan default. Resolute was chosen because of their extensive fuel distributorship experience. Upon takeover, Resolute performed financial analysis which conclusively determined that the best course of action was a sale of the business as a whole. At present Resolute is working with four potential buyers.

Appointed as Receiver for full-service car wash and convenience store in Fort Mohave, Arizona. Resolute acted as Receiver to oversee management, cash controls, and brokerage.

Borrower defaulted on a bank loan and Resolute was appointed Receiver because of its experience and expertise in the industry; Receiver evaluated several economic alternatives and determined that a sale of the operating business, together with its special purpose property and equipment, would bring maximum value to all parties; accordingly, the Receiver instituted a cash collateral
oversight plan to protect assets and assist in managing the business while it was being marketed.

Appointed as Receiver for dismantled dental practice in Mesa, Arizona. Resolute acted as Receiver to reconstitute and operate dental practice.

Resolute was appointed Receiver at the request of the bank due to the default of the borrower on a loan secured by real estate and the dental practice. Upon takeover, the dental practice was found to be shut down and the premises completely stripped of records, dental equipment and FF&E. Within thirty days, Resolute recovered the patient records and equipment, reconstituted the physical office and the practice was reopened for business. At present the practice has enjoyed six months of successful operation and stability and quality care have been restored for patients

Retained as pre-bankruptcy consultant to analyze operations and financial performance prior to filing for Chapter 11 bankruptcy protection for five-property, multi-state, limited service hotel operator. Properties include:

• Best Western in Wyoming – 60 Rooms
• Best Western in Arizona – 85 Rooms
• La Quinta Inn and Suites in Colorado – 64 Rooms
• Super 8 Hotel in Wyoming – 48 Rooms
• Quality Inn in Wyoming – 131 Rooms

Resolute was also hired to provide expert witness testimony in support of borrower's plan for reorganization. Testimony is expected with regard to competency of operator to manage the business, reasonableness of cash collateral agreement and feasibility of the plan of reorganization.

Franchisor was unsuccessful in resolving an issue regarding the sale of unlicensed products by a Franchisee in violation of the Franchise Agreement.

Resolute was hired to simultaneously shutdown and secure all inventory, FF&E and business signage for seven sales outlets located in five different regional malls throughout the State of Arizona.

Appointed as Receiver on a $35MM loan for an 110,000 square foot power retail center in Tolleson, AZ. Resolute Commercial acted as both the Receiver and Property Manager for the asset.

During an 8-month appointment, Resolute quickly stabilized the financial position of the asset and worked to reassure restless tenants about the future path of the property. Resolute’s property management of the asset resulted in the correction of existing lease deficiencies, reduction of operating expenses and elimination of graffiti and vandalism. Additionally, our proactive marketing efforts repositioned the property within the submarket and led to an overall increase in leasing activity and occupancy.

In calendar year 2009 Resolute Commercial was appointed as the Receiver and Property Manager on 15 matters involving multifamily communities totaling more than 1,200 apartment units. In most cases, the properties were horribly neglected in both a physical and operational capacity. Additionally, the tenant mix was precarious due to cultural differences or immigration status.

Resolute’s bilingual and solution-orientated staff worked diligently to overcome the previous ills from the mismanagement of the properties. Conscious efforts were made to immediately address outstanding life safety issues, physical deterioration, unsavory tenant mix and overall rent readiness. In many cases these actions were accomplished through the use of existing cash flow and without the need for additional funding from the Lender.

Mr. Mitchell controlled three full service car wash/gas stations/convenience stores and a Jiffy Lube from a national acquisition and consolidation company.

As the agent for the Receiver, Mr. Mitchell performed interim management, operational oversight, and the coordination of the sale of the properties with the marketing staff of the Receiver.

Upon taking control of the assets, a comprehensive review of the operation’s plant and equipment was conducted. Capital control measures were implemented and in-depth negotiations for settling debts owed to key suppliers, vendors and employees for pre-receivership operations were accomplished.

Mr. Mitchell and his team conducted a comprehensive forensic investigation to trace investor’s funds to multiple off-shore accounts. Funds were used to purchase homes, cars and other assets purchased for personal use by the defendants of the court action. Numerous bank account and financial records were gathered from investors and the company’s files in order to recreate a complete statement of the sources and uses of investor funds.

The complex nature of the project dictated coordination with several U.S. and foreign agencies that included the filing of various legal actions is the Philippines and the Isle of Guernsey. The defendant in the case was ultimately arrested overseas and repatriated to the United States to face trial.

A 92 property portfolio in bankruptcy consisting of a corporate headquarters, 3 warehouse distribution facilities, 2 retail strip malls and 86 free standing automotive parts store located in 27 states.

Hired as an agent by the debtor in possession and approved by the United States Bankruptcy Court to conduct disposition of the Super Shops portfolio. Mr. Mitchell completed portfolio due diligence, marketing position and pricing. Coordination of all aspects of selling real estate under the bankruptcy process and dissemination of information to both secured and unsecured creditors.

Mr. Mitchell and his team took possession of four distribution warehouses and prepared an inventory of all assets. Upon the systematic abandonment of all company employees, Mr. Mitchell and his team ceased operations and proceeded with a systematic liquidation of the assets . During the following eleven-month period they negotiated more than 100 separate sales transactions of more than $2million in perishable and nonperishable seafood, dry goods, personal and real property.

Upon the forensic review of the companies books and records, it quickly became apparent that virtually all receivables were from a fraudulent sales program between related companies.

Mr. Mitchell then facilitated the turnover of all documents captured on site to the F.B.I. and I.R.S. Criminal Investigations.

A.) The Westin La Paloma Resort and Spa in Tucson, Arizona is 487 guestroom destination resort hotel. Amenities include a 27 hole Jack Nicklaus golf course, the exclusive Red Door Spa, five unique pools, 64,000 square feet of meeting space, tennis facilities, and the children’s lounge.

B.) The Westin in Hilton Head, South Carolina is a 412 guestroom ocean front destination resort hotel. This resort is located on the beautiful Port Royal Plantation. Amenities include three signature Port Royal golf courses, the full service Heavenly Spa, three unique pools, 16 meeting spaces, tennis club, and unique experiences for children.

Mr. Foster negotiated the sale and successful closing of the portfolio to his buyer while competing against buyers such as Host Marriot and Mass Mutual.