Denver, CO (PRWEB) September 25, 2010
Gary Watts, Managing Director, Granite Capital & Asset Advisors LLC (GCAA), will serve as a panelist for the “Construction Loan Restructurings” session at the Information Management Network’s 2nd Bank & Special Asset Executive Forum on Distressed Real Estate, at 5:10PM on September 27 at the Hyatt Regency Century Plaza in Los Angeles, Calif.
The “Construction Loan Restructurings” panel discussion topics include: replacing the developer, litigation concerns, dealing with small developers today vs. the last cycle, evaluating the legal side of construction loans, construction defect and successor developer issues, factors to consider before making a decision to stop funding a construction loan, workouts putting more money in the deal, and requirements before loan disbursements. The session chair is Harry E. Hinderliter III, Senior Vice President, Nevada State Bank. Panel participants include: Henry Claussen, Vice President-Loan Administrator, Bank of Stockton; Steven B. Lesser, Board Certified Construction Attorney and Shareholder, Becker & Poliakoff, P.A.; Dale Clayton, Senior Vice President, Keybank National Association; Gary S. Watts, Managing Director, Granite Capital & Asset Advisors LLC; and Dale Sullivan, Senior Vice President, Washington Federal, Inc.
Gary Watts is an experienced CPA and attorney with 30 years of diversified and unique experience in financial due diligence, workouts, litigation support, fraud investigation, and forensic accounting.
As Managing Director of GCAA, Mr. Watts provides management and assistance with Chapter 11 reorganizations for debtors and creditors' committees and Chapter 7 cases, workouts, and related forensic investigations concerning bankruptcy fraud and asset diversion and misappropriation. A wide range of appraisal services are offered by GCAA including fair market value appraisals for enterprises, assessment of damages in litigation, tax purposes, estate and trust compliance, and fair value accounting for FASB compliance.
Mr. Watts’ comprehensive experience includes working directly for the Director of investigations at the Resolution Trust Corporation (RTC) during the Savings and Loan crisis. Initially hired as a senior member of the Drexel Task Force, he investigated and litigated the suit filed by the FDIC and RTC against Michael Milken and Drexel relating to their involvement in the S&L crisis. The task force’s actions ultimately achieved a $1 billion settlement. Mr. Watts went on to co-organize and manage the RTC’s Office of Special Investigations.
Gary Watts may be reached at 888.456.4888. Visit GCAA’s website at http://www.gcaa-llc.com, or stop by Granite Commercial Management’s exhibit booth at the conference to schedule an appointment. GCAA is the newest addition to the respected and nationally recognized Granite family of companies, which includes Granite Loan Management, Granite Commercial Management, Granite Construction Inspections, and Granite Excell Management. For The Granite Companies website, please visit http://www.granite-companies.com.
The Granite Companies host the annual Strategies for Success in Construction Lending Seminar (SSCL Seminar), a national conference bringing together the top commercial construction lenders and special asset managers for networking and educational sessions. Event sponsorships and speaker opportunities are being accepted for the March 2011 event in Colorado. Visit http://www.SSCLseminar.com for information.
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