Florida Organic Aquaculture, LLC and Sustainable Aquaculture Initiative, LLC – This state-of-the-art, technology-driven shrimp farming operation incurred unexpected costs associated with the final design and construction of the facility. Much of the original funding came from EB-5 investors and they were unwilling to provide additional capital. As a result, there was not sufficient working capital once the project was ready for operation. The companies filed chapter 11 to provide time to find an investor to fund the operations.
SC&H Capital undertook an exhaustive marketing effort that led to numerous groups conducting due diligence. Ultimately, an auction of three going concern bidders was held, which maximized the recovery for the estate and its creditors. A sale was approved to a company that represented a group of EB-5 investors that had participated in the original money raise for the project, allowing them to maintain their visas.