NEAR NORTH NATIONAL GROUP, INC.

Case Highlights

• Employed by Department of Justice and Trustee in federal criminal forfeiture proceedings
• Assets sold included several proprietary platforms and software programs utilized in the insurance industry

Case Narrative

In the Near North National Group, Inc. matter, DSI was retained as the Financial Advisor to the Trustee of equity interests in the insurance brokerage operations.  DSI was engaged upon the resignation of the acting CFO of Near North and immediately began to assist the Trustee and counsel in the day-to-day administration and wind down of the estate’s ongoing operations.  DSI was then separately employed by the Department of Justice to analyze the operations and financial reporting of the company and to assist in the administration and disposition of forfeited assets.  The primary assets of the estate consisted of previously negotiated earn-out settlements for the sales of the insurance operations and several operating entities.  DSI participated in the negotiated sales of three operating entities, a title company and two technology-based divisions of the Near North operations.  All of these sales were conducted in Federal Court and subject to competitive bidding.

DSI is also assisting in the sales of various membership interests, including various real estate and restaurant limited partnerships, as well as other investments, including interests in the Chicago Bulls, Chicago White Sox and the United Center limited partnerships.