ESTATE FINANCIAL, INC.

Case Highlights

• California real estate brokerage with over $300 million in defaulted loans
• Managed the portfolios of both bankruptcy estates

Case Narrative

Estate Financial, Inc. (EFI) is a California real estate brokerage firm that, since the late 1980s, solicited investments for and originated secured loans to small real estate developers.  EFI was also the sole manager of the Estate Financial Mortgage Fund, LLC (EFMF), which since 2002 solicited investments in a fund to invest in the loans serviced by EFI.

By the time of their bankruptcy filings in July of 2008, EFI and EFMF had invested more than $315 million in 544 loans, virtually all of them in default.  A DSI professional was appointed the Chapter 11 Trustee for EFMF and DSI was appointed as financial advisor to EFI’s Chapter 11 Trustee.  DSI is currently managing the real estate portfolios of both the EFI and EFMF bankruptcy estates.