case 2:19-cv-02188-dsf-mrw document 83 filed 06/28/19 page...

Case 2:19-cv-02188-DSF-MRW Document 83 Filed 06/28/19 of 18 Page ID #:1301

EXHIBIT 1

EXHIBIT 1,

Case 2:19-cv-02188-DSF-MRW Document 83-1 Filed 06/28/19 Page 1 of 13 Page ID #:1319

Consolidated Direct Lending Investments Receivership Entities [1]

13 Week Cash Flow Forecast ‐ Actual v. Budget dated May 1, 2019$ in 000's

Week Ending May 3 Week Ending May 10 Week Ending May 17Wk 1 Wk 2 Wk 3

Favorable (Unfavorable) Favorable (Unfavorable) Favorable (Unfavorable)Actual Budget $ Var % Var Actual Budget $ Var % Var Actual Budget $ Var % Var

ReceiptsPortfolio Collections 2,393$ ‐$ 2,393$ NM 7,236$ ‐$ 7,236$ NM 63,588$ ‐$ 63,588$ NMLess: Portfolio Servicing ‐ ‐ ‐ NM ‐ ‐ ‐ NM ‐ ‐ ‐ NMLess: Legal Fees (contingency) ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Less: Other [2] ‐ ‐ ‐ NM ‐ ‐ ‐ NM ‐ ‐ ‐ ‐

Net Collections 2,393 ‐ 2,393 NM 7,236 ‐ 7,236 NM 63,588 ‐ 63,588 NM

Less: Participation Passthrough ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Other Receipts ‐ ‐ ‐ NM 2 ‐ 2 NM 4 ‐ 4 NMNet Receipts 2,393 ‐ 2,393 NM 7,238 ‐ 7,238 NM 63,592 ‐ 63,592 NM

Disbursements:Payroll (see pg. 3) 87 89 1 1% 78 87 10 11% 80 81 1 1%Building Rent & Expenses 36 37 1 2% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Other Operating (see schedule) 10 16 6 40% 12 23 11 48% 10 12 2 17%OCP Services (see schedule) (see pg. ‐ 175 175 100% ‐ 10 10 100% ‐ ‐ ‐ ‐Taxes ‐ ‐ ‐ ‐ 0 ‐ (0) NM 0 ‐ (0) NMOperating Disbursements 133 317 183 58% 90 120 30 25% 90 93 3 3%

Net Cash Flow from Operations 2,260 (317) 2,576 NM 7,148 (120) 7,268 NM 63,502 (93) 63,595 NM

Funding Request ‐ 5,000 5,000 100% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Receivership Professionals [3]:Receiver TBD 200 TBD TBD ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Diamond McCarthy TBD 200 TBD TBD ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐BRG 6 10 4 40% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Stretto 2 10 8 82% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Collas Crill TBD 50 TBD TBD ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Investment Banker ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Receivership Professionals 8 470 462 98% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Net Cash Flow 2,252$ (5,787)$ 8,039$ NM 7,148$ (120)$ 7,268$ NM 63,502$ (93)$ 63,595$ NM

Cash, Beginning Balance 35,817$ 35,189$ 628$ NM 38,069$ 29,402$ 8,667$ NM 45,217$ 29,282$ 15,935$ NMNet Cash Flow 2,252 (5,787) 8,039 NM 7,148 (120) 7,268 NM 63,502 (93) 63,595 NM

Cash, Ending Balance 38,069$ 29,402$ 8,667$ NM 45,217$ 29,282$ 15,935$ NM 108,719$ 29,189$ 79,530$ NM

[1] Direct Lending Investments, LLC, Direct Lending Income Fund, L.P., Direct Lending Income Feeder Fund, Ltd., DLI Capital, Inc., DLI Lending Agent, LLC, DLI Assets Bravo, LLC, and theirsuccessors, subsidiaries and affiliated entities have been consolidated and are collectively referred to in this report as the “Consolidated Direct Lending Investments Receivership Entities.”[2] Other includes overpayments / refunds, credit card fees and filing fees.[3] Budgeted Receivership fees and expenses are presented on a monthly accrual basis.

[A] Reference Weeks 1‐8 column on pg. 4. [B] $167K par cipa on pass‐through for Quanta’s por on of Liberty’s March interest that was passed through to them as nego ated in the par al payoff for SAI’s Chaucer property, paid off 5.31.19.

[C] $15K in unanticipated taxes ($11.9K in 2019 gross receipts taxes & $2.5K in annual franchise taxes).

1EXHIBIT 1,


Consolidated Direct Lending Investm13 Week Cash Flow Forecast ‐ Actual$ in 000's

ReceiptsPortfolio CollectionsLess: Portfolio ServicingLess: Legal Fees (contingency)Less: Other [2]

Net Collections

Less: Participation Passthrough

Other ReceiptsNet Receipts

Disbursements:Payroll (see pg. 3)Building Rent & ExpensesOther Operating (see schedule)OCP Services (see schedule) (see pTaxesOperating Disbursements

Net Cash Flow from Operations

Funding Request

Receivership Professionals [3]:ReceiverDiamond McCarthyBRGStrettoCollas CrillInvestment Banker Receivership Professionals

Net Cash Flow

Cash, Beginning BalanceNet Cash Flow

Cash, Ending Balance

[1] Direct Lending Investments, LLC, Dsuccessors, subsidiaries and affiliated [2] Other includes overpayments / ref[3] Budgeted Receivership fees and ex

[A] Reference Weeks 1‐8 column on p[B] $167K par cipa on pass‐through f[C] $15K in unanticipated taxes ($11.9

Week Ending May 24 Week Ending May 31 Week Ending June 7Wk 4 Wk 5 Wk 6


829$ ‐$ 829$ NM 935$ ‐$ 935$ NM 1,936$ ‐$ 1,936$ NM‐ ‐ ‐ ‐ (6) ‐ (6) NM ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

829 ‐ 829 NM 928 ‐ 928 NM 1,936 ‐ 1,936 NM

(168) ‐ (168) NM ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

‐ ‐ ‐ ‐ 66 ‐ 66 NM 17 ‐ 17 NM661 ‐ 661 NM 994 ‐ 994 NM 1,952 ‐ 1,952 NM

85 84 (1) (1%) 99 95 (5) (5%) 88 77 (11) (15%)‐ ‐ ‐ ‐ 37 37 0 1% ‐ ‐ ‐ ‐5 9 3 38% 5 13 8 61% 1 26 25 95%‐ 4 4 100% 1 158 157 100% ‐ 25 25 100%‐ ‐ ‐ NM 14 ‐ (14) NM ‐ 0 0 NM

90 96 6 7% 156 303 146 48% 90 128 38 30%

571 (96) 668 NM 838 (303) 1,140 NM 1,863 (128) 1,991 NM

‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

‐ ‐ ‐ ‐ TBD 150 TBD TBD ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ TBD 100 TBD TBD ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ 23 25 2 7% ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ 2 25 23 90% ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ TBD 50 TBD TBD ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ 26 350 324 93% ‐ ‐ ‐ ‐

571$ (96)$ 668$ NM 812$ (653)$ 1,465$ NM 1,863$ (128)$ 1,991$ NM

108,719$ 29,189$ 79,530$ NM 109,290$ 29,092$ 80,198$ NM 110,102$ 28,440$ 81,663$ NM571 (96) 668 NM 812 (653) 1,465 NM 1,863 (128) 1,991 NM

109,290$ 29,092$ 80,198$ NM 110,102$ 28,440$ 81,663$ NM 111,965$ 28,312$ 83,653$ NM

2EXHIBIT 1,


Consolidated Direct Lending Investm13 Week Cash Flow Forecast ‐ Actual$ in 000's

ReceiptsPortfolio CollectionsLess: Portfolio ServicingLess: Legal Fees (contingency)Less: Other [2]

Net Collections

Less: Participation Passthrough

Other ReceiptsNet Receipts

Disbursements:Payroll (see pg. 3)Building Rent & ExpensesOther Operating (see schedule)OCP Services (see schedule) (see pTaxesOperating Disbursements

Net Cash Flow from Operations

Funding Request

Receivership Professionals [3]:ReceiverDiamond McCarthyBRGStrettoCollas CrillInvestment Banker Receivership Professionals

Net Cash Flow

Cash, Beginning BalanceNet Cash Flow

Cash, Ending Balance

[1] Direct Lending Investments, LLC, Dsuccessors, subsidiaries and affiliated [2] Other includes overpayments / ref[3] Budgeted Receivership fees and ex

[A] Reference Weeks 1‐8 column on p[B] $167K par cipa on pass‐through f[C] $15K in unanticipated taxes ($11.9

Week Ending June 14 Week Ending June 21 CumulativeWk 7 Wk 8 Wk 1 ‐ 8


230$ ‐$ 230$ NM 762$ ‐$ 762$ NM 77,909$ ‐$ 77,909$ NM [A]‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ (6) ‐ (6) NM‐ ‐ ‐ ‐ (10) ‐ (10) (100%) (10) ‐ (10) (100%)‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ NM

230 ‐ 230 NM 752 ‐ 752 NM 77,893 ‐ 77,893 NM

‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ (168) ‐ (168) NM [B]

2 ‐ 2 NM ‐ ‐ ‐ NM 90 ‐ 90 NM232 ‐ 232 NM 752 ‐ 752 NM 77,815 ‐ 77,815 NM

79 73 (6) (8%) 81 77 (4) (5%) 677 662 (15) (2%)‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 73 74 1 1%

11 13 2 12% 14 9 (4) (49%) 68 120 52 43%‐ ‐ ‐ ‐ 44 ‐ (44) (100%) 45 372 327 88%‐ ‐ ‐ ‐ 0 ‐ NM NM 15 0 (15) NM [C]

90 85 (4) (5%) 139 86 (53) (61%) 878 1,228 350 28%

142 (85) 228 NM 613 (86) 699 NM 76,937 (1,228) 78,165 NM

‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 5,000 5,000 100%

‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ TBD 350 TBD TBD‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ TBD 300 TBD TBD‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 29 35 6 16%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 4 35 31 88%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ TBD 100 TBD TBD‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 33 820 787 96%

142$ (85)$ 228$ NM 613$ (86)$ 699$ NM 76,903$ (7,048)$ 83,951$ NM

111,965$ 28,312$ 83,653$ NM 112,107$ 28,226$ 83,881$ NM 35,817$ 35,189$ 628$ NM142 (85) 228 NM 613 (86) 699 NM 76,903 (7,048) 83,951 NM

112,107$ 28,226$ 83,881$ NM 112,720$ 28,140$ 84,580$ NM 112,720$ 28,140$ 84,580$ NM

3EXHIBIT 1,


Consolidated Direct Lending Investments Receivership Entities 13 Week Cash Flow Forecast ‐ Summary of Portfolio Cash Collections $ in 000's

4.1.19 ‐ 4.26.194.27.19 ‐ 6.21.19

Weeks 1‐8 Total

Money Market Interest 17$ 144$ 161$

Normal Course Interest Payments 2,675 4,790 7,465

Full/Partial Payoff ‐ Principal, Interest and PenaltiesFuture Payment Portfolio ‐ Multistream Capital ‐ 2,336 2,336 Indigo DLI Holdings ‐ 6,318 6,318 Liberty ‐ 427 427 Origin ‐ Mepco ‐ 60,407 60,407 Total Full/Partial Payoff ‐ Principal, Interest and Penalties ‐ 69,488 69,488

Wholly Owned Loan ‐ Principal & Interest 1,665 3,487 5,152

Total Portfolio Collections 4,358$ 77,909$ [A] 82,267$

4EXHIBIT 1,


Consolidated Direct Lending Investments Receivership Entities [1]13 Week Cash Flow Forecast ‐ Actual v. Budget dated May 1, 2019Other Operating Disbursements



GPGeneral & AdministrativeSchwab Compliance Technologies ‐$ ‐$ ‐$ ‐ ‐$ ‐$ ‐$ ‐ 3,750$ ‐$ (3,750)$ (100%)De Lage Landen Financial Services ‐ ‐ ‐ ‐ ‐ 4,000 4,000 100% 386 ‐ (386) (100%)Smarsh ‐ 1,200 1,200 100% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

IT Services & SoftwareAdobe ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 345 1,500 1,155 77%Advanced Networks Solutions ‐ ‐ ‐ ‐ 6,086 7,000 914 13% ‐ ‐ ‐ ‐Amazon Web Services ‐ 1,500 1,500 100% 1,071 ‐ (1,071) (100%) 48 ‐ (48) (100%)Atlassian ‐ ‐ ‐ ‐ ‐ 50 50 100% 20 ‐ (20) (100%)Broadvoice ‐ ‐ ‐ ‐ 1,006 1,200 194 16% ‐ ‐ ‐ ‐Dropbox 100 ‐ (100) (100%) ‐ 100 100 100% ‐ ‐ ‐ ‐Office1 ‐ 300 300 100% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Send2fax.com ‐ ‐ ‐ ‐ 9 10 1 11% ‐ ‐ ‐ ‐Spectrum Business ‐ ‐ ‐ ‐ ‐ 1,300 1,300 100% ‐ ‐ ‐ ‐TurboBridge ‐ ‐ ‐ ‐ ‐ 100 100 100% 82 ‐ (82) (100%)

Other Operating ExpensesJerome Alona 375 1,000 625 63% ‐ ‐ ‐ ‐ ‐ 1,000 1,000 100%CS Disco Inc ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 1,000 1,000 100%Enoch Kim ‐ 2,000 2,000 100% ‐ 2,000 2,000 100% ‐ 2,000 2,000 100%Robert Half International Inc. 2,166 1,300 (866) (67%) 2,453 1,300 (1,153) (89%) 868 1,300 432 33%

Total GP 2,641 7,300 4,659 64% 10,625 17,060 6,435 38% 5,499 6,800 1,301 19%FundCollection ExpensesThompson Reuters 2,575 3,000 425 14% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Experian 4,240 100 (4,140) (4140%) ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

General & AdministrativeFATCA ‐ 570 570 100% ‐ 570 570 100% ‐ 570 570 100%

IT Services & SoftwareBox.Net 45 ‐ (45) (100%) ‐ ‐ ‐ ‐ ‐ 45 45 100%

Total Fund 6,860 3,670 (3,190) (87%) ‐ 570 570 100% ‐ 615 615 100%

Other [2] 60 5,000 4,940 99% 1,225 5,000 3,775 75% 4,759 5,000 241 5%

Total Other Operating Disbursements 9,562$ 15,970$ 6,409$ 40% 11,851$ 22,630$ 10,780$ 48% 10,258$ 12,415$ 2,157$ 17%

[1] Direct Lending Investments, LLC, Direct Lending Income Fund, L.P., Direct Lending Income Feeder Fund, Ltd., DLI Capital, Inc., DLI Lending Agent, LLC, DLI Assets Bravo, LLC, and theirsuccessors, subsidiaries and affiliated entities have been consolidated and are collectively referred to in this report as the “Consolidated Direct Lending Investments Receivership Entities.”[2] Actual Other Disbursements include debt collection support services, FedEx, office supplies, reimbursement of subscription expenses and annual fee for Quickbooks desktop.

5EXHIBIT 1,


Consolidated Direct Lending Investmen13 Week Cash Flow Forecast ‐ Actual v. Other Operating Disbursements

GPGeneral & AdministrativeSchwab Compliance TechnologiesDe Lage Landen Financial ServicesSmarsh

IT Services & SoftwareAdobeAdvanced Networks SolutionsAmazon Web ServicesAtlassianBroadvoiceDropboxOffice1Send2fax.comSpectrum BusinessTurboBridge

Other Operating ExpensesJerome AlonaCS Disco IncEnoch KimRobert Half International Inc.

Total GPFundCollection ExpensesThompson ReutersExperian

General & AdministrativeFATCA

IT Services & SoftwareBox.Net

Total Fund

Other [2]

Total Other Operating Disbursements

[1] Direct Lending Investments, LLC, Diresuccessors, subsidiaries and affiliated en[2] Actual Other Disbursements include



‐$ ‐$ ‐$ ‐ ‐$ ‐$ ‐$ ‐ ‐$ ‐$ ‐$ ‐‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 4,000 4,000 100%‐ ‐ ‐ ‐ ‐ 1,200 1,200 100% ‐ ‐ ‐ ‐

‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 7,000 7,000 100%

143 ‐ (143) (100%) ‐ 1,500 1,500 100% 1,087 ‐ (1,087) (100%)‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 50 50 100%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 1,200 1,200 100%‐ ‐ ‐ ‐ 60 ‐ (60) (100%) ‐ 100 100 100%‐ ‐ ‐ ‐ ‐ 300 300 100% ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 10 10 100%

1,225 ‐ (1,225) (100%) ‐ ‐ ‐ ‐ ‐ 1,300 1,300 100%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 100 100 100%

300 ‐ (300) (100%) ‐ 1,000 1,000 100% ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐‐ 2,000 2,000 100% ‐ 2,000 2,000 100% ‐ 2,000 2,000 100%

1,237 1,300 63 5% 948 1,300 352 27% ‐ 1,300 1,300 100%2,906 3,300 394 12% 1,008 7,300 6,292 86% 1,087 17,060 15,973 94%

2,575 ‐ (2,575) (100%) ‐ ‐ ‐ ‐ ‐ 3,000 3,000 100%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

‐ 570 570 100% ‐ 570 570 100% ‐ 713 713 100%

‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 45 ‐ (45) (100%)2,575 570 (2,005) (352%) ‐ 570 570 100% 45 3,713 3,668 99%

13 5,000 4,987 100% 4,022 5,000 978 20% 114 5,000 4,886 98%

5,494$ 8,870$ 3,376$ 38% 5,029$ 12,870$ 7,841$ 61% 1,246$ 25,773$ 24,527$ 95%

6EXHIBIT 1,


Consolidated Direct Lending Investmen13 Week Cash Flow Forecast ‐ Actual v. Other Operating Disbursements

GPGeneral & AdministrativeSchwab Compliance TechnologiesDe Lage Landen Financial ServicesSmarsh

IT Services & SoftwareAdobeAdvanced Networks SolutionsAmazon Web ServicesAtlassianBroadvoiceDropboxOffice1Send2fax.comSpectrum BusinessTurboBridge

Other Operating ExpensesJerome AlonaCS Disco IncEnoch KimRobert Half International Inc.

Total GPFundCollection ExpensesThompson ReutersExperian

General & AdministrativeFATCA

IT Services & SoftwareBox.Net

Total Fund

Other [2]

Total Other Operating Disbursements

[1] Direct Lending Investments, LLC, Diresuccessors, subsidiaries and affiliated en[2] Actual Other Disbursements include



‐$ ‐$ ‐$ ‐ ‐$ ‐$ ‐$ ‐ 3,750$ ‐$ (3,750)$ (100%)386 ‐ (386) (100%) ‐ ‐ ‐ ‐ 772 8,000 7,229 90%

‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 2,400 2,400 100%‐ ‐

345 1,500 1,155 77% ‐ ‐ ‐ ‐ 690 3,000 2,310 77%5,681 ‐ (5,681) (100%) ‐ ‐ ‐ ‐ 11,768 14,000 2,232 16%

‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 2,349 3,000 651 22%‐ ‐ ‐ ‐ 20 ‐ (20) (100%) 40 100 60 60%

1,006 ‐ (1,006) (100%) ‐ ‐ ‐ ‐ 2,013 2,400 387 16%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 160 200 40 20%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 600 600 100%9 ‐ (9) (100%) ‐ ‐ ‐ ‐ 18 20 2 11%‐ ‐ ‐ ‐ 1,225 ‐ (1,225) (100%) 2,450 2,600 150 6%

82 ‐ (82) (100%) ‐ ‐ ‐ ‐ 164 200 36 18%

‐ 1,000 1,000 100% ‐ ‐ ‐ ‐ 675 4,000 3,325 83%‐ 1,000 1,000 100% ‐ ‐ ‐ ‐ ‐ 2,000 2,000 100%‐ 2,000 2,000 100% 1,875 2,000 125 6% 1,875 16,000 14,125 88%

972 1,300 328 25% 2,374 1,300 (1,074) (83%) 11,018 10,400 (618) (6%)8,481 6,800 (1,681) (25%) 5,494 3,300 (2,194) (66%) 37,740 68,920 31,180 45%

‐ ‐ ‐ ‐ 2,575 ‐ (2,575) (100%) 7,726 6,000 (1,726) (29%)‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 4,240 100 (4,140) (4140%)

‐ 713 713 100% ‐ 713 713 100% ‐ 4,990 4,990 100%

‐ ‐ ‐ ‐ ‐ 45 45 100% 90 90 ‐ ‐‐ 713 713 100% 2,575 758 (1,817) (240%) 12,056 11,180 (876) (8%)

2,504 5,000 2,496 50% 5,441 5,000 (441) (9%) 18,138 40,000 21,862 55%

10,985$ 12,513$ 1,528$ 12% 13,510$ 9,058$ (4,452)$ (49%) 67,935$ 120,100$ 52,166$ 43%

7EXHIBIT 1,


Consolidated Direct Lending Investments Receivership Entities13 Week Cash Flow Forecast ‐ Actual v. Budget dated May 1, 2019OCP Services Disbursements $ in 000's



FundOpus Fund Services ‐$ 15$ 15$ 100% ‐$ ‐$ ‐$ ‐ ‐$ ‐$ ‐$ ‐Millennium Trust Company ‐ 68 68 100% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Reserve Capital Group, LLC ‐ 5 5 100% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Saul Ewing Arnstein & Lehr LLP ‐ 30 30 100% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Stites & Harbison, PLLC ‐ 1 1 100% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐The Dushkin Law Firm ‐ 1 1 100% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Harney Westwood & Riegels LLP ‐ 10 10 100% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Lee and Ko Law ‐ 5 5 100% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Thompson Coburn LLP ‐ 25 25 100% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Gibson, Dunn & Crutcher LLP ‐ 10 10 100% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Moritt Hock & Hamroff LLP ‐ 5 5 100% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

‐ 175 175 100% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐GP

Lucas, Horsfall, Murphy & Pindroh, LLP ‐ ‐ ‐ ‐ ‐ 5 5 100% ‐ ‐ ‐ ‐PKC Kuebler, APC ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐Constangy, Brooks, Smith & Prophete, LLP ‐ ‐ ‐ ‐ ‐ 5 5 100% ‐ ‐ ‐ ‐

‐ ‐ ‐ ‐ ‐ 10 10 100% ‐ ‐ ‐ ‐

Total OCP Services Disbursements ‐$ 175$ 175$ 100% ‐$ 10$ 10$ 100% ‐$ ‐$ ‐$ ‐

8EXHIBIT 1,


Consolidated Direct Lending Investments Rec13 Week Cash Flow Forecast ‐ Actual v. BudgOCP Services Disbursements $ in 000's

FundOpus Fund ServicesMillennium Trust CompanyReserve Capital Group, LLCSaul Ewing Arnstein & Lehr LLPStites & Harbison, PLLC The Dushkin Law Firm Harney Westwood & Riegels LLPLee and Ko LawThompson Coburn LLPGibson, Dunn & Crutcher LLPMoritt Hock & Hamroff LLP

GPLucas, Horsfall, Murphy & Pindroh, LLPPKC Kuebler, APCConstangy, Brooks, Smith & Prophete, LLP

Total OCP Services Disbursements



‐$ ‐$ ‐$ ‐ ‐$ ‐$ ‐$ ‐ ‐$ 15$ 15$ 100%‐ ‐ ‐ ‐ ‐ 66 66 100% ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ ‐ 5 5 100% ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ ‐ 30 30 100% ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ ‐ 1 1 100% ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ ‐ 1 1 100% ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ 1 10 9 93% ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ ‐ 5 5 100% ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ ‐ 25 25 100% ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ ‐ 10 10 100% ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ ‐ 5 5 100% ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ 1 158 157 100% ‐ 15 15 100%

‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 5 5 100%‐ 4 4 100% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 5 5 100%‐ 4 4 100% ‐ ‐ ‐ ‐ ‐ 10 10 100%

‐$ 4$ 4$ 100% 1$ 158$ 157$ 100% ‐$ 25$ 25$ 100%

9EXHIBIT 1,


Consolidated Direct Lending Investments Rec13 Week Cash Flow Forecast ‐ Actual v. BudgOCP Services Disbursements $ in 000's

FundOpus Fund ServicesMillennium Trust CompanyReserve Capital Group, LLCSaul Ewing Arnstein & Lehr LLPStites & Harbison, PLLC The Dushkin Law Firm Harney Westwood & Riegels LLPLee and Ko LawThompson Coburn LLPGibson, Dunn & Crutcher LLPMoritt Hock & Hamroff LLP

GPLucas, Horsfall, Murphy & Pindroh, LLPPKC Kuebler, APCConstangy, Brooks, Smith & Prophete, LLP

Total OCP Services Disbursements



‐$ ‐$ ‐$ ‐ 38$ ‐$ (38)$ (100%) 38$ 30$ (8)$ (27%)‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 134 134 100%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 10 10 100%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 60 60 100%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 2 2 100%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 2 2 100%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 1 20 19 97%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 10 10 100%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 50 50 100%‐ ‐ ‐ ‐ 5 ‐ (5) (100%) 5 20 15 76%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 10 10 100%‐ ‐ ‐ ‐ 43 ‐ (43) (100%) 43 348 305 88%

‐ ‐ ‐ ‐ 0 ‐ (0) (100%) 0 10 10 98%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 4 4 100%‐ ‐ ‐ ‐ 1 ‐ (1) (100%) 1 10 9 87%‐ ‐ ‐ ‐ 2 ‐ (2) (100%) 2 24 22 94%

‐$ ‐$ ‐$ ‐ 44$ ‐$ (44)$ (100%) 45$ 372$ 327$ 88%

10EXHIBIT 1,


Consolidated Direct Lending Investments Receivership Entities Accrued Professional Fees/Bank Cash ReconciliationWeek Ending 6.21.19

Cash Balance per Cumulative Actual 112,719,982$

Add: Accrued Professional Fees [1]Berkeley Research Group (4.30.19) 6,013 Berkeley Research Group (5.31.19) 23,267 Stretto (4.30.19) 1,755 Stretto (5.31.19) 2,425 Total 33,460

Actual Bank Cash Balance 112,753,442$

[1] Actual Receivership Professional fees and expenses are accrued and shown in the disbursements category as available.

11EXHIBIT 1,


Consolidated Direct Lending Investments Receivership Entities Bank Cash BalanceWeek Ending 6.21.19

Account # Bank Name Entity Balance

Pre‐Receivership Bank Accounts

x5510 Citibank ‐ DLI GP Direct Lending Investments, LLC 38,447$

x4068 Northbrook Offshore Operating Direct Lending Income Feeder Fund, Ltd. 858

x1919 Wells Fargo Offshore (MM) Direct Lending Income Feeder Fund, Ltd. 704,187

x7598 Northbrook Onshore Operating Direct Lending Income Fund, L.P. 12,072

x1927 Wells Fargo Onshore (MM) Direct Lending Income Fund, L.P. 2,884,375

x6410 Northbrook DLI Capital DLI Capital, Inc. 613,614

x1893 Wells Fargo DLI Capital (MM) DLI Capital, Inc. 79,434

x3290 Northbrook DLI Assets Bravo DLI Assets Bravo, LLC 160,474

x1602 Wells Fargo DLI Assets Bravo Operating (MM) DLI Assets Bravo, LLC 4,368,350 [1]

x8381 Northbrook DLI Assets DLI Assets, LLC 5,294

x2311 Wells Fargo ‐ DLI Assets Borrower Collections DLI Assets, LLC 1,586,699

10,453,803

Metropolitan Bank Accounts

x4148 Metropolitan Bank DLI Assets Bravo (Segregated Proceeds) DLI Assets Bravo, LLC 778,915 [1]

x4121 Metropolitan Bank DLI Assets Bravo DLI Assets Bravo, LLC 25,000,000

x4199 Metropolitan Bank DLI Assets DLI Assets, LLC 265

x4164 Metropolitan Bank DLI Assets Bravo DLI Assets Bravo, LLC 75,733,889

x4156 Metropolitan Bank DLI GP Operating Direct Lending Investments, LLC 786,570

102,299,640

[1] Transfer of DLG segregated cash from account x1602 to x4148 is as of June 25, 2019. 112,753,442$

12EXHIBIT 1,


EXHIBIT 2

EXHIBIT 2,


Investment Portfolio Summary (Positions as of 4/1/19)

($ in millions)

3/31/19 5/31/19

Initial Maturity Par Debt Interim Other Par Debt

# Investment Form of Investment Collateral Inv. Date Date Amount Paydown Adjs. Amount

1 Investment A Whole Loans. 12-16

foreclosure on LLC

Small balance commercial

loans and lines of credit

11/19/2014 N/A $4.9 ($0.7) ($0.4) $3.7

2 Quarterspot Whole Loans Small balance commercial

loans

8/1/2013 N/A $2.4 ($0.2)* ($0.1) $2.1*

3 Investment C Whole Loans. 12-17

foreclosure on asset-

based facility

Unsecured indirect consumer

loans

4/30/2015 N/A $11.0 ($1.5) ($0.7) $8.8

4 Investment D Whole Loans Small balance commercial real

estate

7/31/2015 N/A $1.4 - - $1.4

5 Investment E Whole Loans Merchant Cash Advances 3/7/2014 N/A $12.1 ($0.3) - $11.8

6 Investment F Corporate Term Loan N/A 8/30/2018 On demand $2.0 - - $2.0

7 Investment G Asset-Based Facility Purchase order finance 3/1/2017 1/1/2022 $8.6 - - $8.6

8 Investment H Corporate Term Loan All assets lien over entity (no

pledge of stock)

2/1/2016 12/31/2021 $98.7 - - $98.7

9 Investment I Second Lien Asset-

Based Facility

Unsecured indirect consumer

loans

4/30/2015 1/24/2023 $85.3 - - $85.3

10 Investment J First Lien Corporate

Term Loan

Mineral rights for 6 oil and

gas wells

6/19/2017 6/1/2019 $4.1 - $0.1 $4.3

11 Investment K Corporate Term Loan Accounts receivable, purchase

orders and charge orders

4/25/2017 3/31/2018 $9.6 - - $9.6

12 Investment L Corporate Term Loan Litigation finance 10/9/2018 10/5/2021 $27.4 - - $27.4

13 Investment M Asset-Based Facility Litigation finance 5/1/2017 5/1/2022 $62.0 - - $62.0

14 Investment N Asset-Based Facility Accounts receivable, purchase

order finance and movie film

finance

9/1/2015 3/14/2023 $69.3 - - $69.3

15 Investment O Second Lien Asset-

Based Facility

Accounts receivable (digital

media)

3/16/2018 9/19/2020 $19.8 - - $19.8

16 Investment P Asset-Based Facility Accounts receivable (digital

media)

12/7/2018 12/7/2020 $14.0 - - $14.0

17 Future Payment

Portfolio, LLC

(Multistream

Capital)

Asset-Based Facility Structured Settlements 12/14/2018 11/30/2021 $2.3 ($2.3) - -

18 Investment R Asset-Based Facility 3 distressed commercial real

estate properties and 1 venture

capital investment in a cloud

billing service company

12/22/2016 12/22/2021

(Maturity Date

Extension

option of 2

years)

$25.9 ($6.2) - $19.7

19 Investment S Second Lien Asset-

Based Facility

Residential real estate (Fix and

Flip)

7/17/2017 5/30/2021 $9.8 ($0.4) $0.0 $9.4

20 Investment T Second Lien Asset-

Based Facility

Residential real estate (Fix and

Flip)

7/31/2015 7/31/2020 $56.3 - - $56.3

21 Origin SPE,

LLC (Mepco)

Second Lien Asset-

Based Facility

Vehicle Service Contract

Loans

5/18/2017 5/1/2022 $59.9 ($59.9) - -

22 VoIP Guardian

Partners 1, LLC

Asset-Based Facility Accounts receivable

(international

telecommunication)

10/1/2015 9/1/2020 $202.6 - - $202.6

Total $789.6 ($71.5) ($1.1) $717.0

* As of April 30, 2019.

EXHIBIT 2,


case 2:19-cv-02188-dsf-mrw document 83 filed 06/28/19 page...

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