Ravid alleges that Goldman inflated financials, with claims like a $17.8 million rent receivable asset for All Year that possibly could not be collected.
Goldman took on a $36 million line of credit without board knowledge, secured by All Year's assets, and failed to record this liability, misleading the board.
The restructuring filing indicates Goldman borrowed heavily from others to repay debts while hiding this from the All Year board, further complicating the financial fallout.
After filing for bankruptcy in 2021, All Year's assets were sold in 2023, with restructuring officer Ravid revealing more about Goldman's dubious management practices.
Collection
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