BACKGROUND G

ABOUT THE FOUNDER

Michael A. Grassmueck has more than 20 years' experience in the U.S. Bankruptcy Court as a Chapter 11 Trustee in Washington and Oregon, and in numerous state and federal court receiverships. In 1985 he was appointed a Chapter 7 panel Trustee for the U.S. Bankruptcy Court for the District of Oregon.

As founding principal of The Grassmueck Group, Mr. Grassmueck established the standards of discipline, integrity, and efficiency that are company hallmarks. He has been instrumental in developing strategies and overseeing the administration of insolvency-related cases with an aggregate worth totaling millions of dollars. These include his appointment by the Securities and Exchange Commission as permanent receiver in the largest stock swindle in Washington State history, in which investors and creditors were defrauded of $91 million. Recoveries in that case now total over $30 million. Possessing a strong combination of determination and creativity, he has a rare ability to think around corners in assessing a case and determining an effective plan of action.

Mr. Grassmueck is a member of the National Association of Bankruptcy Trustees. He has been active as a presenter at NABT conventions and has been invited to provide input on numerous issues to the current board and to the Office of the U.S. Trustee and individual U.S. Trustee staff members. Since 2003 he has served on the faculty of the National Bankruptcy Training Institute at the National Advocacy Center for the Department of Justice, Office of U.S. Trustees.

Mr. Grassmueck's background includes seven years in both the residential and commercial real estate industries, where he developed special expertise in purchasing distressed property and distressed debt and packaging it for syndication. He brings to his cases practical knowledge gained from working with a wide range of industries, including retail, wholesale trade, food service, manufacturing, personal services, banking, and agriculture.