DSI'S Role

Chief Restructuring Officer

Services Provided

  • Litigation Support
  • Wind Down Management

BankUnited Financial Corporation

Case Highlights

  • Responsible for the management of a bank holding company
  • Assess and direct litigation matters and causes of action
  • Assess and implement tax strategies

Case Narrative

DSI was appointed Chief Restructuring Officer of BankUnited Financial Corporation, a former unitary savings and loan holding company of BankUnited, FSB.  BankUnited was once the largest federal savings bank in Florida.  Option Adjustable Rate Mortgage loan losses precipitated the takeover of the bank with the FDIC projecting a $5 billion loss to the insurance fund.  As sole officer, DSI managed the affairs of the holding company to monetize assets, analyze tax issues and address SEC and bond-related issues, employee benefit matters, insurance and contractual obligations.  DSI worked collaboratively with the Creditors’ Committee, significant debt holders and the FDIC to manage the estate in a consensual and cost saving manner.  DSI filed claims and instituted litigation against the FDIC in bankruptcy and district courts in regard to IRS tax matters.