The Merchandise Mart is the largest wholesale market and trade show center space in the fourteen-state Rocky Mountain region. The complex is 841,000 square feet in total, with 269,000 square feet of meeting space and 450 permanent showrooms, and houses more than 3,500 product lines.
As Receiver, Douglas Wilson Companies (DWC) was tasked to preserve and protect the property. Following the receivership, DWC was hired on as an Expert Witness to perform forensic accounting services and later represent all findings in bankruptcy court.
Immediately following appointment of the receiver, the borrower filed bankruptcy and the receiver discharged. DWC was then engaged in the capacity of forensic accountants to review the financial information prepared by Denver Merchandise Mart (DMM), including the financial statements and the initial and monthly financial bankruptcy court filings. The objectives were to determine the reliability of the financial information prepared by DMM, review the accrual to cash calculation, and to review and identify any variances in the Monthly Operating Reports for DMM and their subsidiaries.
DWC was qualified as an Expert Witness and the Report issued by DWC was admitted as an Exhibit at trial. DMM stipulated to the findings of the report.
District Court, Adams County, Colorado
Douglas Wilson Companies was founded in 1989 to provide a wide range of specialized business, workout, and real estate services to law firms, state and federal courts, corporations, partnerships, pension funds, REITs, financial institutions, and property owners throughout the United States.
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