Professional Bio:

Blanche Zelmanovich serves as a Senior Managing Director of Underwater Advisors LLC. Blanche has extensive experience in litigation and restructuring matters both in-court and out-of-court  including financial and operational turnarounds, insolvency, transaction due diligence, fraud and forensic investigations and damage calculations.  Experience: Assisted the CFO of a telecommunications equipment distributor to restore credibility to financial data which enabled the operations to be sold and allow the company to continue operations. Advisor to the secured lenders of a multi-billion dollar international container terminal in their out-of-court restructuring efforts which resulted in a billion dollar equity infusion. Assisted in the refinancing and operational restructuring of Gracious Home, a retail business well known throughout New York City. Assisted one of the country’s “mega yacht” manufacturers in their out-of-court restructuring efforts. Advisor to a homebuilder in Florida with approximately $2.0 billion of debt, where her responsibilities included cash-flow monitoring, financial modeling, bankruptcy reporting and litigation support. Advisor to the senior lender group in the restructuring of a $650 million manufacturing business. Specifically, she managed the assessment and analysis of the company’s business plan, worked with the company to improve cash flow management and negotiated the DIP financing. Assisted a telecommunications company in the country of Georgia with complex GAAP compliance related issues. Managed the day-to-day responsibilities of the assessment of internal controls over financial reporting, as it relates to Sarbanes-Oxley Section 404 compliance services, for a national doughnut chain and for a $3 billion well servicing company. Performed due diligence services for a leading venture capital firm in their acquisition of a privately held currency trader.