Court Appointed Receivership
In 2014 FRGi was appointed as Receiver, by the South Carolina Superior Court, in a failed $20 million resort development project. This matter is ongoing and FRGi is responsible for marshalling assets of the entity as well as those of three guarantors. This assignment includes reviewing tax filings, taking depositions and providing accounting services. This has proven to be a highly profitable, highly expandable segment of the new business which is currently restricted by bonding ability, an ability which will be expanded by an allocation from the capital infusion thereby adding a significant profit center.