BANKUNITED FINANCIAL CORP - FORM 8-K - EX-99.1 - DEBTOR'S CONSOLIDATED STANDARD MONTHLY OPERATING REPORT FROM 11/1/09 TO 11/30/09

BANKUNITED FINANCIAL CORP - FORM 8-K - EX-99.1 - DEBTOR'S CONSOLIDATED STANDARD MONTHLY OPERATING REPORT FROM 11/1/09 TO 11/30/09 - January 5, 2010

Attached files

Attached files

file	filename
8-K - FORM 8-K - BANKUNITED FINANCIAL CORP	d8k.htm

Exhibit 99.1

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 1 of 54

UNITED STATES BANKRUPTCY COURT

SOUTHERN DISTRICT OF FLORIDA

MIAMI DIVISION


IN RE:	}	CASE NUMBER 09-19940-LMI
	}	(Jointly Administered)
BANKUNITED FINANCIAL⁽¹⁾	}
CORPORATION, ET AL.	}	JUDGE Hon. Laurel M. Isicoff
	}
DEBTOR.	}	CHAPTER 11

DEBTORS’ CONSOLIDATED STANDARD MONTHLY OPERATING REPORT (BUSINESS)

FOR THE PERIOD

FROM November 1, 2009 TO November 30, 2009

Comes now the above-named debtor and files its Monthly Operating Reports in accordance with the Guidelines established by the United States Trustee and FRBP 2015.


				/s/ Joseph J. Luzinski, as CRO
				Debtor’s Signature

Debtor’s Address				Attorney’s Address
and Phone Number:				and Phone Number:

c/o Development Specialists, Inc.				Greenberg Traurig, P.A.

200 South Biscayne Boulevard, Suite 1818				1221 Brickell Avenue

Miami, FL 33131-2329				Miami, FL 33131

(305) 374-2717				(305) 579-0500

Note: The original Monthly Operating Report is to be filed with the court and a copy simultaneously provided to the United States Trustee Office. Monthly Operating Reports must be filed by the 20th day of the following month.

For assistance in preparing the Monthly Operating Report, refer to the following resources on the United States Trustee Program Website, http://www.usdoj.gov/ust/r21/index.htm.

1)	Instructions for Preparations of Debtor’s Chapter 11 Monthly Operating Report

2)	Initial Filing Requirements

3)	Frequently Asked Questions (FAQs) http://www.usdoj.gov/ust/.

1)	On the Petition Date, the following affiliated entities filed concurrently for Chapter 11:

BankUnited Financial Corporation (Case #09-19940)

BankUnited Financial Services, Inc. (Case #09-19941)

CRE America Corporation (Case #09-19942)

MOR-1

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 2 of 54

GENERAL DISCLAIMER

These bankruptcy cases were filed on May 22, 2009, the day after the regulatory seizure of Debtor BankUnited Financial Corporation’s wholly-owned banking subsidiary, BankUnited, FSB, and the ensuing sale of that subsidiary's assets by the Federal Deposit Insurance Corporation to BankUnited, a de novo federal savings association organized under the laws of the United States (“New Bank”). The Debtors’ current Chief Restructuring Officer, Joseph J. Luzinski (the “CRO”) was appointed effective June 2, 2009, eleven days after these cases were filed. Nearly all of the books and records of the Debtors are presently in the possession of the FDIC or New Bank. Accordingly, the information contained herein is based on the information currently available to the CRO and is subject to modification as additional information becomes available.

Nothing herein shall be construed as an admission or determination by the Debtors as to any amount or value set forth herein, the validity of any debt listed herein, ownership of any asset listed herein, the completeness of any financial statement set forth herein, or otherwise as to the accuracy or completeness of any information contained herein. The Debtors expressly reserve the right to modify any and all information contained herein as additional information becomes available.

Disclaimer

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 3 of 54

SCHEDULE OF RECEIPTS AND DISBURSEMENTS


		FOR THE PERIOD BEGINNING		November 1, 2009		AND ENDING		November 30, 2009

Name of Debtor:

BANKUNITED FINANCIAL

CORPORATION, ET AL.

Case Number

09-19940-LMI

Date of Petition:

May 22, 2009

(Jointly Administered)


		CURRENT MONTH			CUMULATIVE PETITION TO DATE
1. FUNDS AT BEGINNING OF PERIOD		$	17,155,523	(a)	$	—	(b)

2. RECEIPTS:
A. Cash Sales		$	—		$	—

Minus: Cash Refunds	(-)	$	—		$	—

Net Cash Sales		$	—		$	—

B. Accounts Receivable		$	—		$	—

C. Other Receipts (See MOR-3)		$	1,296		$	19,166,531

(If you receive rental income, you must attach a rent roll.)
3. TOTAL RECEIPTS *(Lines 2A+2B+2C)*		$	1,296		$	19,166,531

4. TOTAL FUNDS AVAILABLE FOR OPERATIONS *(Line 1 + Line 3)*		$	17,156,819		$	19,166,531


5 DISBURSEMENTS
A. Advertising		$	—		$	141,170

B. Bank Charges		$	203		$	689

C. Contract Labor		$	—		$	796

D. Fixed Asset Payments (not incl. in “N”)		$	—		$	—

E. Insurance		$	—		$	—

F. Inventory Payments (See Attach. 2)		$	—		$	—

G. Leases		$	—		$	—

H. Manufacturing Supplies		$	—		$	—

I. Office Supplies		$	—		$	1,043

J. Payroll - Net (See Attachment 4B)		$	—		$	—

K. Professional Fees (Accounting & Legal)		$	396,474		$	2,235,991

L. Rent		$	—		$	—

M. Repairs & Maintenance		$	—		$	—

N. Secured Creditor Payments (See Attach. 2)		$	—		$	—

O. Taxes Paid - Payroll (See Attachment 4C)		$	—		$	—

P. Taxes Paid - Sales & Use (See Attachment 4C)		$	—		$	—

Q. Taxes Paid - Other (See Attachment 4C)		$	—		$	—

R. Telephone		$	—		$	—

S. Travel & Entertainment		$	—		$	562

T. U.S. Trustee Quarterly Fees		$	—		$	11,050

U. Utilities		$	—		$	—

V. Vehicle Expenses		$	—		$	—

W. Other Operating Expenses (See MOR-3)		$	—		$	15,088

6. TOTAL DISBURSEMENTS *(Sum of 5A thru W)*		$	396,676		$	2,406,389

7. ENDING BALANCE *(Line 4 Minus Line 6)*		$	16,760,142	(c)	$	16,760,142	(c)

I declare under penalty of perjury that this statement and the accompanying documents and reports are true and correct to the best of my knowledge and belief, subject to the General Disclaimer and footnotes to this Report.


This 18th day of December , 2009.				/s/ Joseph J. Luzinski, as CRO
				(Signature)

(a)	This number is carried forward from last month’s report. For the first report only, this number will be the balance as of the petition date.

(b)	This figure will not change from month to month. It is always the amount of funds on hand as of the date of the petition.

(c)	These two amounts will always be the same if form is completed correctly.

MOR-2

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 4 of 54

MONTHLY SCHEDULE OF RECEIPTS AND DISBURSEMENTS (cont’d)

Detail of Other Receipts and Other Disbursements

OTHER RECEIPTS:

Describe Each Item of Other Receipt and List Amount of Receipt. Write totals on Page MOR-2, Line 2C.


Description	Current Month		Cumulative Petition to Date
BUFC - Close Pre-Petition Bank Accounts	$	—	$	16,061,971

BUFC - Interest Income	$	606	$	3,075

BUFC - Refund of Retainer Balance from Paul Hastings	$	—	$	79,899

BUFC - Transfer of Brokerage Accounts from “Old Bank”	$	—	$	57,039

BUFC - Preference Recoveries	$	—	$	431,970

BUFC - Insurance Premium Refunds	$	454	$	130,093

BUFS - Close Pre-Petition Bank Accounts	$	—	$	2,033,234

BUFS - Interest Income	$	90	$	475

BUFS - Return of Suntrust Funds	$	—	$	98,238

BUFS - Commissions Revenue	$	135	$	135

BU Realty - Close “Old Bank” Bank Accounts	$	—	$	30,550

BU Realty - Interest Income	$	1	$	5

CRE - Close Pre-Petition Bank Accounts	$	—	$	239,791

CRE - Interest Income	$	10	$	54

TOTAL OTHER RECEIPTS	$	1,296	$	19,166,531

“Other Receipts” includes Loans from Insiders and other sources (i.e. Officer/Owner, related parties directors, related corporations, etc.). Please describe below:


Loan Amount	Source of Funds	Purpose	Repayment Schedule
None

OTHER DISBURSEMENTS:

Describe Each Item of Other Disbursement and List Amount of Disbursement. Write totals on Page MOR-2, Line 5W.


Description	Current Month		Cumulative Petition to Date

Corporate Filing Fees	$	—	$	300

Employee Expense Reimbursement	$	—	$	2,088

Financial Subscriptions	$	—	$	12,700









TOTAL OTHER DISBURSEMENTS	$	—	$	15,088

NOTE: Attach a current Balance Sheet and Income (Profit & Loss) Statement.

MOR-3

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 5 of 5 4

BankUnited Financial Corporation, et al., DIP

Consolidated Income Statement

For the Period Ended November 30, 2009


Cash Basis	BankUnited Financial Corp., DIP		BankUnited Financial Svc., DIP	BU Realty Corp.	CRE America, Corp., DIP	TOTAL BUFC, et al., DIP
Ordinary Income/Expense
Income
Commissions Revenue	0		135	0	0	135
Insurance Premium Refunds	454		0	0	0	454
Preference Recoveries	0		0	0	0	0
Transfer from Old Bank	0		0	0	0	0

Total Income	454		135	0	0	589
Expense
Advertising	0		0	0	0	0
Bank Charges	203		0	0	0	203
Board Compensation	0		0	0	0	0
Insurance	0		0	0	0	0
Other Operating Expenses	0		0	0	0	0
Professional Fees
CRO Fees	30,000		0	0	0	30,000
Financial Advisor Fees
Fin. Advisor Fees - Committee	47,646		0	0	0	47,646
Fin. Advisor Fees - Debtor	25,562		0	0	0	25,562

Financial Advisor Fees	73,208		0	0	0	73,208
Financial Advisor Reimb Expense						0
Fin. Adv. Reimb Exp - Committee	583		0	0	0	583
Fin. Adv. Reimb Exp - Debtor	208		0		0	208

Financial Advisor Reimb Expense	791		0	0	0	791
Legal Fees						0
Legal Fees - Committee	151,357		0	0	0	151,357
Legal Fees - Debtor	130,502		0	0	0	130,502
Legal Fees - Other	0		0	0	0	0

Legal Fees	281,858		0	0	0	281,858
Legal Reimb Expenses						0
Legal Reimb Exp - Committee	5,099		0	0	0	5,099
Legal Reimb Exp - Debtor	5,517		0	0	0	5,517
Legal Reimb Exp - Other	0		0	0	0	0

Legal Reimb Expense	10,616		0	0	0	10,616

Total Professional Fees	396,474		0	0	0	396,474
U.S. Trustee Quarterly Fees	0		0	0	0	0

Total Expense	396,676		0	0	0	396,676

Net Ordinary Income	(396,222	)	135	0	0	(396,088	)

Other Income/Expense
Other Income
Other Receipts
Interest Income	606		90	1	10	707

Total Other Receipts	606		90	1	10	707

Total Other Income	606		90	1	10	707

Net Other Income	606		90	1	10	707

Net Incr./(Decr.) in Cash During Period	(395,617	)	225	1	10	(395,381	)

Page 1 of 5

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 6 of 54

BankUnited Financial Corporation, et al., DIP

Consolidated Income Statement

Inception to Date (November 30, 2009)


Cash Basis	BankUnited Financial Corp., DIP	BankUnited Financial Svc., DIP	BU Realty Corp.	CRE America, Corp., DIP	TOTAL BUFC, et al., DIP
Ordinary Income/Expense
Income
Commissions Revenue	0	135	0	0	135
Insurance Premium Refunds	130,093	0	0	0	130,093
Other Receipts (See MOR-3)	0	98,238	0	0	98,238
Preference Recoveries	431,970	0	0	0	431,970
Services Income	79,899	0	0	0	79,899
Transfer from Old Bank	16,119,010	2,033,234	30,550	239,791	18,422,586

Total Income	16,760,973	2,131,607	30,550	239,791	19,162,921
Expense
Advertising	141,170	0	0	0	141,170
Bank Charges	689	0	0	0	689
Board Compensation	52,500	0	0	0	52,500
Contract Labor	0	796	0	0	796
Insurance	0	0	0	0	0
Office Supplies	1,043	0	0	0	1,043
Other Operating Expenses (See MOR-3)	14,788	150	0	150	15,088
Professional Fees
CRO Fees	150,000	0	0	0	150,000
Financial Advisor Fees	254,514	0	0	0	254,514
Financial Advisor Reimb Expense	4,802	0	0	0	4,802
Legal Fees	1,737,920	0	0	0	1,737,920
Legal Reimb Expense	36,255	0	0	0	36,255

Total Professional Fees	2,183,491	0	0	0	2,183,491
Travel & Entertainment	562	0	0	0	562
U.S. Trustee Quarterly Fees	9,750	650	0	650	11,050

Total Expense	2,403,992	1,596	0	800	2,406,389

Net Ordinary Income	14,356,980	2,130,011	30,550	238,991	16,756,532
Other Income/Expense
Other Income
Other Receipts
Interest Income	3,075	475	5	54	3,610

Total Other Receipts	3,075	475	5	54	3,610

Total Other Income	3,075	475	5	54	3,610

Net Other Income	3,075	475	5	54	3,610

Net Income	14,360,056	2,130,486	30,555	239,045	16,760,142

Page 2 of 5

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 7 of 54

BankUnited Financial Corporation, et al., DIP

Consolidated Balance Sheet

As of November 30, 2009


	BankUnited Financial Corp., DIP				BankUnited Financial Svc., DIP
ASSETS⁽¹⁾
Current Assets
Checking/Savings
Pre-Petition Bank Accounts	—	⁽²⁾			—	⁽²⁾
Post-Petition Bank Accounts	14,308,399				2,130,486
Brokerage Accounts	—				—
FHLB Overnight Deposit	51,657				—

Total Checking/Savings			14,360,056				2,130,486
Accounts Receivable			16,163				—	⁽³⁾
Other Current Assets
Deposits	70,825				—
Income Tax Receivable	1,008,753				197,196
Other Receivables	—				107,783	⁽³⁾
Prepaid Assets	57,569				—
Related Party Loans Receivable	14,503,977	⁽⁴⁾			—

Total Other Current Assets			15,641,124				304,979

Total Current Assets			30,017,343				2,435,465

Fixed Assets
Accumulated Depreciation	—				—
Furniture and Equipment	—				—

Total Fixed Assets			—				—
Other Assets
Deferred Offering Cost	4,599,397				—
Deferred Tax Asset	29,567				—
Investment in BKUN Stat Trust	7,121,000				—
Investment in Partnerships	1,206,708	⁽⁵⁾			—
Investment in Subsidiaries	—				—
Painting & Other Art Works	36,111				—
Timeshare	—				—
Trademarks	—				—

Total Other Assets			12,992,783				—

TOTAL ASSETS⁽¹⁾			43,010,126				2,435,465


Liabilities & Equity⁽¹⁾
Liabilities
Current Liabilities
Accounts Payable			—				—
Other Current Liabilities
Accrued Expenses	652,578				—
Accrued Interest Payable	11,127,142				—
Deferred Taxes	5,232,489				—
Related Party Loans Payable	—				3,401,671	⁽⁴⁾

Total Other Current Liabilities			17,012,208				3,401,671

Total Current Liabilities			17,012,208				3,401,671

Long Term Liabilities
Convertible Notes - BUFC - 3.125%	120,000,000				—
Forward Purchase Contract	2,652,223				—
Sub Sr Note - BUFC - 6.37% 4/07	184,000,000				—
Subdebt@3MTH - BUFC - L+3% 09/07	12,500,000				—
Subnotes - BUFC	237,261,000				—

Total Long Term Liabilities			556,413,223				—

Total Liabilities			573,425,431				3,401,671

Equity
Retained Earnings - Pre-Petition	(544,835,839	)			(3,096,692	)
Retained Earnings - Post Petition	14,360,056				2,130,486
Unrealized Gain/(Loss) on Investment in Partnerships	60,477				—
Total Equity			(530,415,306	)			(966,206	)

TOTAL LIABILITIES & EQUITY⁽¹⁾			43,010,126				2,435,465

The accompanying Notes to the Financial Statements constitute a material component of, and qualify in its entirety, the balance sheet listed above.

Page 3 of 5

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 8 of 54

BankUnited Financial Corporation, et al., DIP

Consolidated Balance Sheet

As of November 30, 2009


	BU Realty Corp.			CRE America Corp., DIP			TOTAL BUFC, et al., DIP
ASSETS⁽¹⁾
Current Assets
Checking/Savings
Pre-Petition Bank Accounts	—	⁽²⁾		—	⁽²⁾		—
Post-Petition Bank Accounts	30,555			239,045			16,708,486
Brokerage Accounts	—			—			—
FHLB Overnight Deposit	—			—			51,657

Total Checking/Savings			30,555			239,045	16,760,142
Accounts Receivable			—			—	16,163
Other Current Assets
Deposits	—			—			70,825
Income Tax Receivable	—			613			1,206,562
Other Receivables	—			—			107,783
Prepaid Assets	—			—			57,569
Related Party Loans Receivable	—			7,460	⁽⁴⁾		14,511,437

Total Other Current Assets			—			8,073	15,954,176

Total Current Assets			30,555			247,118	32,730,482

Fixed Assets
Accumulated Depreciation	—			—			—
Furniture and Equipment	—			—			—

Total Fixed Assets			—			—	—
Other Assets
Deferred Offering Cost	—			—			4,599,397
Deferred Tax Asset	—			—			29,567
Investment in BKUN Stat Trust	—			—			7,121,000
Investment in Partnerships	—			—			1,206,708
Investment in Subsidiaries	—			—			—
Painting & Other Art Works	—			—			36,111
Timeshare	—			578,449			578,449

Trademarks	—			—

Total Other Assets			—			578,449	13,571,232

TOTAL ASSETS⁽¹⁾			30,555			825,567	46,301,714


Liabilities & Equity⁽¹⁾
Liabilities
Current Liabilities
Accounts Payable			—			—	—
Other Current Liabilities
Accrued Expenses	—			—			652,578
Accrued Interest Payable	—			—			11,127,142
Deferred Taxes	—			—			5,232,489
Related Party Loans Payable	—			—			3,401,671

Total Other Current Liabilities			—			—	20,413,879

Total Current Liabilities			—			—	20,413,879

Long Term Liabilities
Convertible Notes -BUFC- 3.125%	—			—			120,000,000
Forward Purchase Contract	—			—			2,652,223
Sub Sr Note - BUFC - 6.37% 4/07	—			—			184,000,000
Subdebt@3MTH - BUFC- L+3% 09/07	—			—			12,500,000
Subnotes - BUFC	—			—			237,261,000

Total Long Term Liabilities			—			—	556,413,223

Total Liabilities			—			—	576,827,103

Equity
Retained Earnings - Pre-Petition	—			586,522			(547,346,009	)
Retained Earnings - Post Petition	30,555			239,045			16,760,142
Unrealized Gain/(Loss) on Investment in Partnerships	—			—			60,477
Total Equity			30,555			825,567	(530,525,389	)

TOTAL LIABILITIES & EQUITY⁽¹⁾			30,555			825,567	46,301,714

The accompanying Notes to the Financial Statements constitute a material component of, and qualify in its entirety, the balance sheet listed above.

Page 4 of 5

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 9 of 54

BankUnited Financial Corporation, et al., DIP

Notes to the Financial Statements

For the period ended October 31, 2009

Notes to the Financial Statements:

(1)

All cash accounts are listed at their current cash balances. All other balances reported were obtained from Debtors’ trial balances prepared as of May 21, 2009. Actual existence, ownership, and value have not been confirmed as of the Reporting Date. This balance sheet is subject to change should any variations in asset and liability values be discovered subsequent to the filing of this Report.

(2)

All pre-petition bank accounts were closed in June 2009 when the balance of funds were transferred to the respective BankUnited Financial Corp., et al., DIP accounts.

(3)

LPL Financial Corporation (LPL) entered into an agreement with BankUnited Financial Corporation (BUFC) and BankUnited Financial Services (BUFS) to sell, in non-debtor subsidiary BankUnited, FSB bank branches using the BUFS name, financial planning products and advisory services, including equities, debt securities, open-end/closed-end mutual funds, and public limited partnerships. Commissions for the sale of these products are due semi-monthly. It has not been confirmed whether any commissions are currently outstanding and, if so, whether the amounts have been incorporated into the Debtor’s trial balance for the purposes of these financial statements.

(4)

Intercompany accounts included in the Debtors’ trial balances. In addition to outstanding balances with BUFS and CRE America Corp. (CRE), BUFC listed intercompany loans to BankUnited, FSB ($11,114,391) and BU Realty Corporation ($4,625), both of which are not included in the filing of this jointly-administered case.

(5)

Market value of investments in Malta Hedge Fund II, LP and SOAM Capital Partners, LP per the latest month-end or quarter-end statements provided.

Page 5 of 5

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 10 of 54

ATTACHMENT 1

MONTHLY ACCOUNTS RECEIVABLE RECONCILIATION AND AGING


Name of Debtor:	BANKUNITED FINANCIAL CORPORATION, ET AL.		Case Number:	09-19940-LMI
				(Jointly Administered)

Reporting Period Beginning:		November 1, 2009	Period Ending:	November 30, 2009

ACCOUNTS RECEIVABLE AT PETITION DATE:			UNKNOWN

ACCOUNTS RECEIVABLE RECONCILIATION

(Include all accounts receivable, pre-petition and post-petition, including charge card sales which have not been received):


Beginning of Month Balance	$	16,163	(a)

PLUS: Current Month New Billings	$	—

MINUS: Collection During the Month	$	—	(b)

PLUS/MINUS: Adjustments or Writeoffs	$	—	*

End of Month Balance	$	16,163	(c)

*	For any adjustments or Write-offs provide explanation and supporting documentation, if applicable:

POST PETITION ACCOUNTS RECEIVABLE AGING

(Show the total for each aging category for all accounts receivable)


0-30 Days		31-60 Days		61-90 Days		Over 90 Days		Total
$	—	$	—	$	—	$	16,163	$	16,163	(c)

For any receivables in the “Over 90 Days” category, please provide the following:


Customer	Receivable Date	Status (Collection efforts taken, estimate of collectibility, write-off, disputed account, etc.)

None

(a)	This number is carried forward from last month’s report. For the first report only, this number will be the balance as of the petition date.

(b)	This must equal the number reported in the “Current Month” column of Schedule of Receipts and Disbursements (Page MOR-2, Line 2B).

(c)	These two amounts must equal.

MOR-4

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 11 of 54

ATTACHMENT 2

MONTHLY ACCOUNTS PAYABLE AND SECURED PAYMENTS REPORT


Name of Debtor:	BANKUNITED FINANCIAL CORPORATION, ET AL.		Case Number:	09-19940-LMI
				(Jointly Administered)

Report Period Beginning:		November 1, 2009	Period Ending:	November 30, 2009

In the space below list all invoices or bills incurred and not paid since the filing of the petition. Do not include amounts owed prior to filing the petition. In the alternative, a computer generated list of payables may be attached provided all information requested below is included.

POST-PETITION ACCOUNTS PAYABLE


Date Incurred	Days Outstanding	Vendor	Description	Amount
None













TOTAL AMOUNT				$	—	(b)


¨ Check here if pre-petition debts have been paid. Attach an explanation and copies of supporting documentation.

ACCOUNTS PAYABLE RECONCILIATION (Post Petition Unsecured Debt Only)


Opening Balance		None	(a)

PLUS: New Indebtedness Incurred This Month	$	—

MINUS: Amount Paid on Post Petition, Accounts Payable This Month	$	—

PLUS/MINUS: Adjustments	$	—	*

Ending Month Balance	$	—	(c)

*	For any adjustments provide explanation and supporting documentation, if applicable.

SECURED PAYMENTS REPORT

List the status of Payments to Secured Creditors and Lessors (Post Petition Only). If you have entered into a modification agreement with a secured creditor/lessor, consult with your attorney and the United States Trustee Program prior to completing this section).


Secured Creditor / Lessor	Date Payment Due This Month	Amount Paid This Month			Number of Post Petition Payments Delinquent	Total Amount of Post Petition Payments Delinquent


None









TOTAL		$	—	(d)


(a)		This number is carried forward from last month’s report. For the first report only, this number will be zero.
(b, c)		The total of line (b) must equal line (c).
(d)		This number is reported in the “Current Month” column of Schedule of Receipts and Disbursements (Page MOR-2, Line 5N).

MOR-5

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 12 of 54

ATTACHMENT 3

INVENTORY AND FIXED ASSETS REPORT


Name of Debtor:	BANKUNITED FINANCIAL CORPORATION, ET AL.		Case Number:	09-19940-LMI
				(Jointly Administered)

Reporting Period Beginning:		November 1, 2009	Period Ending:	November 30, 2009

INVENTORY REPORT


INVENTORY BALANCE AT PETITION DATE:		None

INVENTORY RECONCILIATION:
Inventory Balance at Beginning of Month	$	—	(a)

PLUS: Inventory Purchased During Month	$	—

MINUS: Inventory Used or Sold	$	—

PLUS/MINUS: Adjustments or Write-downs	$	—	*

Inventory on Hand at End of Month	$	—


METHOD OF COSTING INVENTORY:		NA

*	For any adjustments or write-downs provide explanation and supporting documentation, if applicable.

INVENTORY AGING


Less than 6 months old		6 months to 2 years old		Greater than 2 years old		Considered Obsolete		Total Inventory

—	%	—	%	—	%	—	%	100	% *

*	Aging Percentages must equal 100%.

¨	Check here if inventory contains perishable items.


Description of Obsolete Inventory:		NA

FIXED ASSET REPORT


FIXED ASSETS FAIR MARKET VALUE AT PETITION DATE:	UNKNOWN	(b)

(Includes Property, Plant and Equipment)


BRIEF DESCRIPTION (First Report Only):		NA


FIXED ASSETS RECONCILIATION:
Fixed Assets Book Value at Beginning of Month	$	—	(a)(b)

MINUS: Depreciation Expense	$	—

PLUS: New Purchases	$	—

PLUS/MINUS: Adjustments or Write-downs	$	—	*

Ending Monthly Balance	$	—

*	For any adjustments or write-downs, provide explanation and supporting documentation, if applicable.


BRIEF DESCRIPTION OF FIXED ASSETS PURCHASED OR DISPOSED OF DURING THE REPORTING
PERIOD:		NA

(a)	This number is carried forward from last month’s report. For the first report only, this number will be the balance as of the petition date.

(b)	Fair Market Value is the amount at which fixed assets could be sold under current economic conditions. Book Value is the cost of the fixed assets minus accumulated depreciation and other adjustments.

MOR-6

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 13 of 54

ATTACHMENT 4A

MONTHLY SUMMARY OF BANK ACTIVITY - OPERATING ACCOUNT (Checking, Post-Petition)


Name of Debtor:	BANKUNITED FINANCIAL CORPORATION, ET AL.		Case Number:	09-19940-LMI
				(Jointly Administered)

Report Period Beginning:		November 1, 2009	Period Ending:	November 30, 2009

Attach a copy of current month bank statement and bank reconciliation to this Summary of Bank Activity. A standard bank reconciliation form can be found at http://www.usdoj.gov/ust/r21/index.htm. If bank accounts other than the three required by the United States Trustee Program are necessary, permission must be obtained from the United States Trustee prior to opening the accounts. Additionally, use of less than the three required bank accounts must be approved by the United States Trustee.


Ending Balance per Bank Statement	$	5,797

Plus Total Amount of Outstanding Deposits	$	—

Minus Total Amount of Outstanding Checks and other debits	$	—	*

Minus Service Charges	$	—

Ending Balance per Check Register	$	5,797	**(a)


*Debit cards are used by		NA


**If Closing Balance is negative, provide explanation:		NA

The following disbursements were paid in Cash (do not includes items reported as Petty Cash on Attachment 4D:

(¨ Check here if cash disbursements were authorized by United States Trustee)


Date	Amount	Payee	Purpose	Reason for Cash Disbursement
None

TRANSFERS BETWEEN DEBTOR IN POSSESSION ACCOUNTS

“Total Amount of Outstanding Checks and other debits”, listed above, includes:


$	—	Transferred to Payroll Account

$	—	Transferred to Tax Account

$	—	Transferred to BankUnited Financial Corp. - MMA

$	—	Transferred to BankUnited Financial Services - MMA

$	—	Transferred to BU Realty Corporation - MMA

$	—	Transferred to CRE America Corporation - MMA

(a)	The total of this line on Attachment 4A, 4B and 4C plus the total of 4D must equal the amount reported as “Ending Balance” on Schedule of Receipts and Disbursements (Page MOR-2, Line 7).

MOR-7

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 14 of 54


				October 31, 2009 -
				November 30, 2009
JPMORGAN CHASE BANK, N.A. NORTHEAST MARKET P O BOX 260180 BATON ROUGE LA 70826-0180				Page 1 of 2
				Account Number XXXXXXXXXXX2430

				Customer Service
BANKUNITED FINANCIAL CORPORATION DEBTOR BANKUNITED FINANCIAL CORPORATION DEBTOR IN POSSESION C/O DSI 200 S BISCAYNE BLVD STE 1818 MIAMI FL 33131-2329				If you have any questions about your statement, please contact your Customer Service Professional.

The Bank strictly prohibits the use of any account to conduct transactions (including, without limitation, the acceptance or receipt of credit or other receipt of funds through an electronic funds transfer, or by check, draft or similar instrument, or the proceeds of any of the foregoing) that are related, directly or indirectly, to unlawful internet gambling. The term “unlawful internet gambling,” as used in this notice, shall have its meaning set forth in 12 C.F.R. Section Part 233, Section 132.2(bb). The Customer shall not conduct any transactions through the account that directly or indirectly involve or are related to unlawful Internet gambling, including, without limitation, the acceptance or receipt of any funds or deposits in connection therewith.

Commercial Checking

Summary


	Number	Amount
Opening Ledger Balance		$	18,375.16
Deposits and Credits	1	$	396,473.58
Withdrawals and Debits	1	$	202.89
Checks Paid	8	$	408,848.58
Ending Ledger Balance		$	5,797.27

Deposits and Credits


Ledger Date	Description	Amount
11/ 05	Online Transfer from MMA XXXXX2448 transaction#: 275070119	$	396,473.58

Total		$	396,473.58

Please examine this statement of account at once. By continuing to use the account, you agree that: (1) the account is subject to the Bank’s deposit account agreement, and (2) the Bank has no responsibility for any error in or improper charge to the account (including any authorized or altered check) unless you notify us in writing of this error or charge within sixty days of the mailing or availability of the first statement on which the error or charge appears.

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 15 of 54


		October 31, 2009 - November 30, 2009

		Page 2 of 2

		Account Number XXXXXXXXXXX2430
BANKUNITED FINANCIAL CORPORATION DEBTOR BANKUNITED FINANCIAL CORPORATION DEBTOR IN POSSESION

Commercial Checking

(continued)

Withdrawals and Debits


Ledger Date	Description	Amount
11/16	ACCOUNT ANALYSIS SETTLEMENT CHARGE	$	202.89
Total		$	202.89

Checks Paid


Check	Date Paid	Amount		Check	Date Paid	Amount		Check	Date Paid	Amount

1026	11/19	$	7,500.00	1040	11/10	$	25,770.03	1043	11/09	$	48,229.24
1038*	11/03	$	4,875.00	1041	11/06	$	136,018.85	1044	11/09	$	18,887.65
1039	11/10	$	30,000.00	1042	11/09	$	137,567.81
Total 8 check(s)										$	408,848.58

*	indicates gap in sequence

Daily Balance


Date	Ledger Balance

11/03	$	13,500.16
11/05	$	409,973.74
11/06	$	273,954
11/09	$	69,270.19


Date	Ledger Balance

11/10	$	13,500.16
11/16	$	13,297.27
11/19	$	5,797.27

Your service charges, fees and earnings credit have been calculated through account analysis.

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 16 of 54


4:16 PM		BankUnited Financial Corporation, et al.,DIP
		Reconciliation Summary
12/15/09		BUFC, DIP - Checking (2430), Period Ending 11/30/2009


	Nov 30, 09
Beginning Balance		18,375.16
Cleared Transactions
Checks and Payments - 9 items	-409,051.47
Deposits and Credits - 2 items	396,473.58

Total Cleared Transactions	-12,577.89


Cleared Balance		5,797.27

Uncleared Transactions
Deposits and Credits -1 item	0.00

Total Uncleared Transactions	0.00


Register Balance as of 11/30/2009		5,797.27

New Transactions
Checks and Payments - 8 items	-649,615.35
Deposits and Credits -1 item	649,615.35

Total New Transactions	0.00


Ending Balance		5,797.27

Page 1

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 17 of 54


4:16 PM		BankUnited Financial Corporation, et al.,DIP
		Reconciliation Detail
12/15/09		BUFC, DIP - Checking (2430), Period Ending 11/30/2009


Type		Date	Num	Name	Clr	Amount	Balance
Beginning Balance
	Cleared Transactions
	Checks and Payments - 9 items
Check		9/22/2009	1026	Gol Kalev	X	-7,500.00	-7,500.00
Check		10/23/2009	1038	U. S. Trustee	X	-4,875.00	-12,375.00
Check		11/4/2009	1042	Kilpatrick Stockton...	X	-137,567.81	-149,942.81
Check		11/4/2009	1041	Greenberg Traurig	X	-136,018.85	-285,961.66
Check		11/4/2009	1043	J. H. Cohn	X	-48,229.24	-334,190.90
Check		11/4/2009	1039	Development Speci...	X	-30,000.00	-364,190.90
Check		11/4/2009	1040	Development Speci...	X	-25,770.03	-389,960.93
Check		11/4/2009	1044	Kozyak Tropin	X	-18,887.65	-408,848.58
Check		11/16/2009		JPMorgan Chase	X	-202.89	-409,051.47

	Total Checks and Payments					-409,051.47	-409,051.47

	Deposits and Credits - 2 items
Deposit		11/5/2009		BankUnited Financi...	X	396,473.58	396,473.58
Check		12/4/2009	1047	Greenberg Traurig	X	0.00	396,473.58

	Total Deposits and Credits					396,473.58	396,473.58


	Total Cleared Transactions					-12,577.89	-12,577.89

Cleared Balance						-12,577.89	5,797.27
	Uncleared Transactions
	Deposits and Credits - 1 item
Check		10/16/2009	1036	Void		0.00	0.00

	Total Deposits and Credits					0.00	0.00

	Total Uncleared Transactions					0.00	0.00

Register Balance as of 11/30/2009						-12,577.89	5,797.27

	New Transactions
Checks and Payments - 8 items
Check		12/4/2009	1049	Kilpatrick Stockton ...		-332,328.88	-332,328.00
Check		12/4/2009	1050	J. H. Cohn		-49,101.66	-381,429.66
Check		12/4/2009	1046	Development Speci...		-38,320.26	-419,749.92
Check		12/4/2009	1045	Development Speci...		-30,000.00	-449,749.92
Check		12/4/2009	1051	Kozyak Tropin		-27,456.78	-477,206.70
Check		12/4/2009	1048	PriceWaterhouseC...		-6,916.09	-484,122.79
Check		12/10/2009	1052	Greenberg Traurig		-149,072.06	-633,194.85
Check		12/10/2009	1053	PriceWaterhouseC...		-16,420.50	-649,615.35

	Total Checks and Payments					-649,615.35	-649,615.35
	Deposits and Credits - 1 item
Deposit		12/4/2009		BankUnited Financi...		649,615.35	649,615.35

	Total Deposits and Credits					649,615.35	649,615.35


	Total New Transactions					0.00	0.00


Ending Balance						-12,577.89	5,797.27

Page 1

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 18 of 54

ATTACHMENT 5A

CHECK REGISTER - OPERATING ACCOUNT (Checking, Post-Petition)

Name of Debtor:

BANKUNITED FINANCIAL

CORPORATION, ET AL.

Case Number:

09-19940-LMI

(Jointly Administered)



Report Period Beginning:	November 1, 2009	Period Ending:	November 30, 2009



NAME OF BANK:	JPMorgan Chase	BRANCH:	New York, New York



ACCOUNT NAME:		BankUnited Financial Corp., DIP

Account for all disbursements, including voids, lost checks, stop payments, etc. In the alternative, a computer generated check register can be attached to this report, provided all the information requested below is included.


DATE	CHECK NUMBER	PAYEE	PURPOSE	AMOUNT
11/04/2009	1039	Development Specialists, Inc.	CRO Fees	$	30,000.00

11/04/2009	1040	Development Specialists, Inc.	Financial Advisor Fees	$	25,770.03

11/04/2009	1041	Greenberg Traurig	Legal Fees	$	136,018.85

11/04/2009	1042	Kilpatrick Stockton LLP	Legal Fees	$	137,567.81

11/04/2009	1043	J.H. Cohn	Financial Advisor Fees	$	48,229.24

11/04/2009	1044	Kozyak Tropin	Legal Fees	$	18,887.65

11/16/2009	FEE	JPMorgan Chase	Bank Fees	$	202.89
















TOTAL				$	396,676.47

MOR-8

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 19 of 54

ATTACHMENT 4A (2)

MONTHLY SUMMARY OF BANK ACTIVITY - OPERATING ACCOUNT (Money Market, Post-Petition)

Name of Debtor:

BANKUNITED FINANCIAL

CORPORATION, ET AL.

Case Number:

09-19940-LMI


			(Jointly Administered)

Report Period Beginning:	November 1, 2009	Period Ending:	November 30, 2009


NAME OF BANK:		JPMorgan Chase		BRANCH:		New York, New York



ACCOUNT NAME:	BankUnited Financial Corp., DIP	ACCOUNT NUMBER:	xxxxx2448



PURPOSE OF ACCOUNT:		Money Market


Ending Balance per Bank Statement	$	14,302,602

Plus Total Amount of Outstanding Deposits	$	—

Minus Total Amount of Outstanding Checks and other debits	$	—	*

Minus Service Charges	$	—

Ending Balance per Check Regiser	$	14,302,602	**(a)


*Debit cards are used by		NA



**If Closing Balance is negative, provide explanation:		NA

The following disbursements were paid in Cash (do not includes items reported as Petty Cash on Attachment 4D:

( ¨ Check here if cash disbursements were authorized by United States Trustee)


Date	Amount	Payee	Purpose	Reason for Cash Disbursement
None

TRANSFERS BETWEEN DEBTOR IN POSSESSION ACCOUNTS

“Total Amount of Outstanding Checks and other debits”, listed above, includes:


NA		Transferred to Payroll Account
NA		Transferred to Tax Account
NA		Transferred to BankUnited Financial Corp. - Operating
NA		Transferred to BankUnited Financial Services - MMA
NA		Transferred to BU Realty Corporation - MMA
NA		Transferred to CRE America Corporation - MMA

(a)	The total of this line on Attachment 4A, 4B and 4C plus the total of 4D must equal the amount reported as “Ending Balance” on Schedule of Receipts and Disbursements (Page MOR-2, Line 7).

MOR-7 (2)

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 20 of 54


				October 31, 2009 -
				November 30, 2009

JPMORGAN CHASE BANK, N.A. NORTHEAST MARKET P O BOX 260180 BATON ROUGE LA 70826-0180				Page 1 of 2
				Account Number XXXXXXXXXXX2448
				Customer Service
BANKUNITED FINANCIAL CORPORATION DEBTOR BANKUNITED FINANCIAL CORPORATION DEBTOR IN POSSESSION 200 S BISCAYNE BLVD STE 1818 MIAMI FL 33131-2329				If you have any questions about your statement, please contact your Customer Service Professional.

The Bank strictly prohibits the use of any account to conduct transactions (including, without limitation, the acceptance or receipt of credit or other receipt of funds through an electronic funds transfer, or by check, draft or similar instrument, or the proceeds of any of the foregoing) that are related, directly or indirectly, to unlawful internet gambling. The term “unlawful Internet gambling,” as used in this notice, shall have its meaning set forth in 12 C.F.R. Section Part 233, Section 132.2(bb). The Customer shall not conduct any transactions through the account that directly or indirectly involve or are related to unlawful Internet gambling, including, without limitation, the acceptance or receipt of any funds or deposits in connection therewith.

JPMorgan Premier MMDA

Summary


	Number	Amount
Opening Ledger Balance		$	14,698,015.81
Deposits and Credits	2	$	1,059.65
Withdrawals and Debits	1	$	396,473.58
Checks Paid	0	$	.00
Ending Ledger Balance		$	14,302,601.88


Average Ledger Balance	$	14,365,714.00
Interest Credited this period	$	605.65	Interest Credited Year to Date	$	3,075.49


Interest Rate(s): 10/31 to 11/30 at 0.05%

Please examine this statement of account at once. By continuing to use the account, you agree that: (1) the account is subject to the Bank’s deposit account agreement, and (2) the Bank has no responsibility for any error in or improper charge to the account (including any unauthorized or altered check) unless you notify us in writing of this error or charge within sixty days of the mailing or availability of the first statement on which the error or charge appears.

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 21 of 54


		October 31, 2009 - November 30, 2009

		Page 2 of 2

		Account Number XXXXXXXXXXX2448

BANKUNITED FINANCIAL CORPORATION DEBTOR BANKUNITED FINANCIAL CORPORATION DEBTOR IN POSSESSION

JPMorgan Premier MMDA

(continued)

Deposits and Credits


Ledger Date	Description	Amount
11/17	DEPOSIT 536547427	$	454.00
11/30	INTEREST PAYMENT	$	605.65
Total		$	1,059.65

Withdrawals and Debits


Ledger Date	Description	Amount
11/05	Online Transfer to CHK XXXXX2430 transaction#: 275070119	$	396,473.58
Total		$	396,473.58

Daily Balance


Date	Ledger Balance
11/05	$	14,301,542.23
11/17	$	14,301,996.23

Date

Ledger

Balance

11/30

14,302,601.88

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 22 of 54


4:12 PM		BankUnited Financial Corporation, et al., DIP
		Reconciliation Summary
12/15/09		BUFC, DIP - MMA (2448), Period Ending 11/30/2009


	Nov 30, 09
Beginning Balance		14,698,015.81
Cleared Transactions
Checks and Payments - 1 item	-396,473.58
Deposits and Credits - 2 items	1,059.65

Total Cleared Transactions	-395,413.93


Cleared Balance		14,302,601.88


Register Balance as of 11/30/2009		14,302,601.88
New Transactions
Checks and Payments - 1 item	-649,615.35
Deposits and Credits - 1 item	27,242.50

Total New Transactions	-622,372.85


Ending Balance		13,680,229.03

Page 1

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 23 of 54


4:32 PM		BankUnited Financial Corporation, et al., DIP
		Reconciliation Detail
12/15/09		BUFC, DIP - MMA (2448), Period Ending 11/30/2009

Type

Date

Num

Name

Clr

Amount

Balance

Beginning Balance

14,698,015.81

Cleared Transactions

Checks and Payments - 1 item

Deposit

11/5/2009

BankUnited Financi...

-396,473.58

Total Checks and Payments

-396.473.58

-396,473.58

Deposits and Credits - 2 items

Deposit

11/17/2009

Fidelity National Pro...

454.00

Deposit

11/30/2009

Interest

605.65

1,059.65

Total Deposits and Credits

1,059.65

Total Cleared Transactions

-395,413.93

Cleared Balance

-395,413.93

14,302,601.88

-395,413.93

14,302,601.88

New Transactions

Checks and Payments - 1 item

Deposit

12/4/2009

BankUnited Financi...

-649,615.35

Total Checks and Payments

-649,615.35

Deposits and Credits - 1 item

Deposit

12/2/2009

ComputerShare Inc

27,242.50

Total Deposits and Credits

27,242.50

Total New Transactions

-622,372.85

Ending Balance

-1,017,786.78

13,680,229.03

Page 1

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 24 of 54

ATTACHMENT 5A (2)

CHECK REGISTER - OPERATING ACCOUNT (Money Market, Post-Petition)

Name of Debtor:

BANKUNITED FINANCIAL

CORPORATION, ET AL.

Case Number:

09-19940-LMI

(Jointly Administered)



Report Period Beginning:	November 1, 2009	Period Ending:	November 30, 2009


DATE	CHECK NUMBER	PAYEE	PURPOSE	AMOUNT
11/05/09	TRSFR	BUFC, DIP Checking (2430)	Transfer for operating expenses / prof fees	$396,474




































TOTAL				$396,474

MOR-8 (2)

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 25 of 54

ATTACHMENT 4A (3)

MONTHLY SUMMARY OF BANK ACTIVITY - OPERATING ACCOUNT (Post-Petition)

Name of Debtor:

BANKUNITED FINANCIAL

CORPORATION, ET AL.

Case Number:

09-19940-LMI

(Jointly Administered)



Report Period Beginning:	November 1, 2009	Period Ending:	November 30, 2009



PURPOSE OF ACCOUNT:		Operating (Money Market)


Ending Balance per Bank Statement	$	2,130,486

Plus Total Amount of Outstanding Deposits	$	—

Minus Total Amount of Outstanding Checks and other debits	$	—	*

Minus Service Charges	$	—

Ending Balance per Check Register	$	2,130,486	**(a)


*Debit cards are used by NA		NA


**If Closing Balance is negative, provide explanation:		NA

The following disbursements were paid in Cash (do not includes items reported as Petty Cash on Attachment 4D:

(¨ Check here if cash disbursements were authorized by United States Trustee)


Date	Amount	Payee	Purpose	Reason for Cash Disbursement
None

TRANSFERS BETWEEN DEBTOR IN POSSESSION ACCOUNTS

“Total Amount of Outstanding Checks and other debits”, listed above, includes:


NA		Transferred to Payroll Account
NA		Transferred to Tax Account
NA		Transferred to BankUnited Financial Corp. - Operating
NA		Transferred to BankUnited Financial Corp. - MMA
NA		Transferred to BU Realty Corporation - MMA
NA		Transferred to CRE America Corporation - MMA

(a)	The total of this line on Attachment 4A, 4B and 4C plus the total of 4D must equal the amount reported as “Ending Balance” on Schedule of Receipts and Disbursements (Page MOR-2, Line 7).

MOR-7 (3)

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 26 of 54


				October 31, 2009-
JPMORGAN CHASE BANK, N.A NORTHEAST MARKET P O BOX 260180 BATON ROUGE LA 70826-0180				November 30, 2009
				Page 1 of 2
				Account Number XXXXXXXXXXX2471

				Customer Service
BANKUNITED FINANCIAL SERVICES DEBTOR IN BANKUNITED FINANCIAL SERVICES DEBT IN POSSESION CO DSI 200 S BISCAYNE BLVD STE 1818 MIAMI FL 33131-2329				If you have any questions about your statement, please contact your Customer Service Professional.

The Bank strictly prohibits the use of any account to conduct transactions (including, without limitation, the acceptance or receipt of credit or other receipt of funds through an electronic funds transfer, or by check, draft or similar instrument, or the proceeds of any of the foregoing) that are related, directly or indirectly, to unlawful internet gambling. The term “unlawful internet gambling as used in this notice, shall have its meaning set forth in 12 C.F.R. Section Part 233, Section 132.2(bb). The Customer shall not conduct any transactions through the account that directly or indirectly involve or are related to unlawful Internet gambling, including without limitation, the acceptance or receipt of any funds or deposits in connection therewith.

JPMorgan Premier MMDA

Summary


		Number		Amount
Opening Ledger Balance				$	2,130,586.15

Deposits and Credits		2		$	224.71

Withdrawals and Debits		0		$	.00

Checks Paid		1		$	325.00

Ending Ledger Balance				$	2,130,485.86

Average Ledger Balance	$2,130,321.00

Interest Credited this period	$89.81		Interest Credited Year to Dale	$	475.22

Interest Rate(s): 10/31 to 11 /30 at 0.05%

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 27 of 54


		October 31, 2009 - November 30, 2009

		Page 2 of 2

		Account Number XXXXXXXXXXX2430
BANKUNITED FINANCIAL CORPORATION DEBTOR BANKUNITED FINANCIAL CORPORATION DEBTOR IN POSSESION

JPMorgan Premier MM DA

(continued)

Deposits and Credits


Ledger Date	Description	Amount
11/25	DEPOSIT 536547430	$	134.90
11/30	INTEREST PAYMENT	$	89.81
Total		$	224.71

Checks Paid

Check

Date Paid

Amount

Check

Date Paid

Amount

Check

Date Paid

Amount

1002

11/03

325.00

Total 1 check(s)

325.00

Daily Balance


Date	Ledger Balance
11/03	$	2,130,261.15
11/25	$	2,130,396.05

Date

Ledger

Balance

11/30

2,130,485.86

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 28 of 54

4:14 PM

BankUnited Financial Corporation, et al.,DIP

Reconciliation Summary

BUFS, DIP - MMA (2471), Period Ending 11/30/2009

12/15/09


	Nov 30, 09
Beginning Balance		2,130,586.15
Cleared Transactions
Checks and Payments -1 item	-325.00
Deposits and Credits - 2 items	224.71

Total Cleared Transactions	-100.29


Cleared Balance		2,130,485.86

Register Balance as of 11/30/2009		2,130.486.86
Ending Balance		2,130,485.86

Page 1

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 29 of 54


4:14 PM		BankUnited Financial Corporation, et al., DIP
		Reconciliation Detail
12/15/09		BUFS, DIP - MMA (2471), Period Ending 11/30/2009

Type

Date

Num

Name

Clr

Amount

Balance

Beginning Balance

2,130,586.15

Cleared Transactions

Checks and Payments - 1 item

Check

10/23/2009

1002

U.S. Trustee

-325.00

Total Checks and Payments

-325.00

Deposits and Credits - 2 items

Deposit

11/23/2009

Alliant Service Ho...

134.90

Deposit

11/30/2009

Interest

89.81

224.71

Total Deposits and Credits

224.71

Total Cleared Transactions

-100.29

Cleared Balance

-100.29

2,130,485.86

11/30/2009

-100.29

2,130,485.86

Ending Balance

-100.29

2,130,485.86

Page 1

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 30 of 54

ATTACHMENT 5A (3)

CHECK REGISTER - OPERATING ACCOUNT (Post-Petition)

Name of Debtor:

BANKUNITED FINANCIAL

CORPORATION, ET AL.

Case Number:

09-19940-LMI

(Jointly Administered)



Report Period Beginning:	November 1, 2009	Period Ending:	November 30, 2009


DATE	CHECK NUMBER	PAYEE	PURPOSE	AMOUNT
None




































TOTAL				$	—

MOR-8 (3)

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 31 of 54

ATTACHMENT 4A (4)

MONTHLY SUMMARY OF BANK ACTIVITY - OPERATING ACCOUNT (Post-Petition)

Name of Debtor:

BANKUNITED FINANCIAL

CORPORATION, ET AL.

Case Number:

09-19940-LMI

(Jointly Administered)



Report Period Beginning:	November 1, 2009	Period Ending:	November 30, 2009



PURPOSE OF ACCOUNT:		Operating (Money Market)


Ending Balance per Bank Statement	$	30,555

Plus Total Amount of Outstanding Deposits	$	—

Minus Total Amount of Outstanding Checks and other debits	$	—	*

Minus Service Charges	$	—

Ending Balance per Check Register	$	30,555	**(a)


*Debit cards are used by NA		NA


**If Closing Balance is negative, provide explanation:		NA

The following disbursements were paid in Cash (do not includes items reported as Petty Cash on Attachment 4D:

(¨ Check here if cash disbursements were authorized by United States Trustee)


Date	Amount	Payee	Purpose	Reason for Cash Disbursement
None

TRANSFERS BETWEEN DEBTOR IN POSSESSION ACCOUNTS

“Total Amount of Outstanding Checks and other debits”, listed above, includes:


NA		Transferred to Payroll Account
NA		Transferred to Tax Account
NA		Transferred to BankUnited Financial Corp. - Operating
NA		Transferred to BankUnited Financial Corp. - MMA
NA		Transferred to BankUnited Financial Services - MMA
NA		Transferred to CRE America Corporation - MMA

(a)	The total of this line on Attachment 4A, 4B and 4C plus the total of 4D must equal the amount reported as “Ending Balance” on Schedule of Receipts and Disbursements (Page MOR-2, Line 7).

MOR-7 (4)

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 32 of 54


				October 31, 2009 -
JPMORGAN CHASE BANK, N.A NORTHEAST MARKET P O BOX 260180 BATON ROUGE LA 70826-0180				November 30, 2009
				Page 1 of 2
				Account Number XXXXXXXXXXX2612

				Customer Service
BU REALTY CORPORATION BU REALTY CORPORATION 200 S BISCAYNE BLVD STE 1818 MIAMI FL 33131-2329				If you have any questions about your statement, please contact your Customer Service Professional.

The Bank strictly prohibits the use of any account to conduct transactions (including, without limitation, the acceptance or receipt of credit or other receipt of funds through an electronic funds transfer, or by check, draft or similar instrument, or the proceeds of any of the foregoing) that are related, directly or indirectly, to unlawful internet gambling. The term “unlawful internet gambling” as used in this notice, shall have its meaning set forth in 12 C.F.R. Section Part 233, Section 132.2(bb). The Customer shall not conduct any transactions through the account that directly or indirectly involve or are related to unlawful deposits in connection therewith.

JPMorgan Premier MMDA

Summary


			Number		Amount
Opening Ledger Balance					$	30,554.21
Deposits and Credits			1		$	1.28
Withdrawals and Debits			0		$	.00
Checks Paid			0		$	.00
Ending Ledger Balance					$	30,555.49
Average Ledger Balance	$	30,554.00
interest Credited this period	$	1.28		Interest Credited Year to Date	$	5.49

Interest Rate(s): 10/31 to 11/30 at 0.05%

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 33 of 54


		October 31, 2009 -
		November 30, 2009
		Page 2 of 2
		Account Number XXXXXXXXXXX2612

BU REALTY CORPORATION BU REALTY CORPORATION

JPMorgan Premier MMDA

(continued)

Deposits and Credits


Ledger Date	Description	Amount
11/30	INTEREST PAYMENT	$	1.28
Total		$	1.28

Daily Balance


Date	Ledger Balance

11/30	$	30,555.49


Date		Ledger Balance

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 34 of 54


4:13 PM		BankUnited Financial Corporation, et al., DIP
		Reconciliation Summary
12/15/19		BU Realty - MMA, Period Ending 11/30/2009


		Nov 30, 09
Beginning Balance		30,554.21
Cleared Transactions Deposits and Credits - 1 item		1.28


Total Cleared Transactions		1.28


Cleared Balance		30,555.49

Register Balance as of 11/30/2009		30,555.49
Ending Balance		30,555.49

Page 1

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 35 of 54


4:13 PM		BankUnited Financial Corporation, et al., DIP
		Reconciliation Summary
12/15/19		BU Realty - MMA, Period Ending 11/30/2009


Type	Date	Num	Name	Clr	Amount	Balance

Beginning Balance						30,554.21
Cleared Transactions Deposits and Credits -1 item
Deposit	11/30/2009		Interest	X	1.28	1.28

Total Deposits and Credits					1.28	1.28


Total Cleared Transactions					1.28	1.28


Cleared Balance					1.28	30,555.49


Register Balance as of 11/30/2009					1.28	30,555.49


Ending Balance					1.28	30,555.49

Page 1

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 36 of 54

ATTACHMENT 5A (4)

CHECK REGISTER - OPERATING ACCOUNT (Post-Petition)

Name of Debtor:

BANKUNITED FINANCIAL

CORPORATION, ET AL.

Case Number:

09-19940-LMI

(Jointly Administered)



Report Period Beginning:	November 1, 2009	Period Ending:	November 30, 2009


DATE	CHECK NUMBER	PAYEE	PURPOSE	AMOUNT
None




































TOTAL				$	—

MOR-8 (4)

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 37 of 54

ATTACHMENT 4A (5)

MONTHLY SUMMARY OF BANK ACTIVITY - OPERATING ACCOUNT (Post-Petition)


Name of Debtor:	BANKUNITED FINANCIAL CORPORATION, ET AL.		Case Number:	09-19940-LMI
				(Jointly Administered)

Report Period Beginning:		November 1, 2009	Period Ending:	November 30, 2009



PURPOSE OF ACCOUNT:		Operating (Money Market)


Ending Balance per Bank Statement	$	239,045

Plus Total Amount of Outstanding Deposits	$	—

Minus Total Amount of Outstanding Checks and other debits	$	—	*

Minus Service Charges	$	—

Ending Balance per Check Register	$	239,045	**(a)


*Debit cards are used by NA		NA


**If Closing Balance is negative, provide explanation:		NA

The following disbursements were paid in Cash (do not includes items reported as Petty Cash on Attachment 4D:

( ¨ Check here if cash disbursements were authorized by United States Trustee)


Date	Amount	Payee	Purpose	Reason for Cash Disbursement
None

TRANSFERS BETWEEN DEBTOR IN POSSESSION ACCOUNTS

“Total Amount of Outstanding Checks and other debits”, listed above, includes:


NA		Transferred to Payroll Account
NA		Transferred to Tax Account
NA		Transferred to BankUnited Financial Corp. - Operating
NA		Transferred to BankUnited Financial Corp. - MMA
NA		Transferred to BankUnited Financial Services - MMA
NA		Transferred to BU Realty Corporation - MMA

(a)	The total of this line on Attachment 4A, 4B and 4C plus the total of 4D must equal the amount reported as “Ending Balance” on Schedule of Receipts and Disbursements (Page MOR-2, Line 7).

MOR-7 (5)

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 38 of 54


				October 31, 2009 -
JPMORGAN CHASE BANK, N.A. NORTHEAST MARKET P O BOX 260180 BATON ROUGE LA 70826-0180				November 30, 2009
				Page 1 of 2
				Account Number XXXXXXXXXXX2463
00035010 CEN 802 3J 33509 - NNN T 1 000000000 C2 0000				Customer Service
CRE AMERICA CORP DEBTOR IN POSSESSION CRE AMERICA CORP DEBT IN POSSESSION CO DSI 200 SL BISCAYNE BLVD STE 1818 MIAMI FL 33131				If you have any questions about your statement, please contact your Customer Service Professional.

JPMorgan Premier MMDA

Summary


			Number		Amount
Opening Ledger Balance					$	239,360.14
Deposits and Credits			1		$	10.67
Withdrawals and Debits			0		$	.00
Checks Paid			1		$	325.00
Ending Ledger Balance					$	239,045.21
Average Ledger Balance	$	239,066.00
Interest Credited this period	$	10.67		Interest Credited Year to Date	$	54.01

Interest Rate(s): 10/31 to 11/30 at 0.05%

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 39 of 54


				October 31, 2009 -
				November 30, 2009
				Page 2 of 2
				Account Number XXXXXXXXXXX2463

CRE AMERICA CORP DEBTOR IN POSSESSION CRE AMERICA CORP DEBT IN POSSESSION

JPMorgan Premier MMDA

(continued)


Deposits and Credits
Ledger Date	Description	Amount
11/30	INTEREST PAYMENT	$	10.07
Total		$	10.07

Checks Paid

Check

Date Paid

Amount

Check

Date Paid

Amount

Check

Date Paid

Amount

1003

11/03

325.00

Total

1 check(s)

325.00

Daily Balance


Date	Ledger Balance
11/30	$	239,035.14


Date	Ledger Balance
11/30	$	239,045.21

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 40 of 54

4:14 PM

BankUnited Financial Corporation, et al.,DIP

Reconciliation Summary

CRE America Corp. DlP-MMA (2463), Period Ending 11/30/2009

12/15/09


	Nov 30, 09
Beginning Balance		239,360.14
Cleared Transactions
Checks and Payments -1 item	-325.00
Deposits and Credits -1 item	10.07

Total Cleared Transactions	-314.93


Cleared Balance		239,045.21

Register Balance as of 11/30/2009		239,045.21
Ending Balance		239,045.21

Page 1

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 41 of 54

4:14 PM

BankUnited Financial Corporation, et al.,DIP

Reconciliation Detail

CRE America Corp. DIP-MMA (2463), Period Ending 11/30/2009

12/15/09

Type

Date

Num

Name

Clr

Amount

Balance

Beginning Balance

239,360.14

Cleared Transactions

Checks and Payments -1 item

Check

10/23/2009

1003

U.S. Trustee

-325.00

Total Checks and Payments

-325.00

Deposits and Credits -1 item

Deposit

11/30/2009

Interest

10.07

Total Deposits and Credits

10.07

Total Cleared Transactions

-314.93

Cleared Balance

-314.93

239,045.21

-314.93

239,045.21

Ending Balance

-314.93

239,045,21

Page 1

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 1 of 42

ATTACHMENT 5A (5)

CHECK REGISTER - OPERATING ACCOUNT (Post-Petition)

Name of Debtor:

BANKUNITED FINANCIAL

CORPORATION, ET AL.

Case Number:

09-19940-LMI

(Jointly Administered)



Report Period Beginning:	November 1, 2009	Period Ending:	November 30, 2009


DATE	CHECK NUMBER	PAYEE	PURPOSE	AMOUNT
None




































TOTAL				$	—

MOR-8 (5)

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 1 of 43

ATTACHMENT 4A (6)

MONTHLY SUMMARY OF BANK ACTIVITY - OPERATING ACCOUNT (Pre-Petition)

Name of Debtor:

BANKUNITED FINANCIAL

CORPORATION, ET AL.

Case Number:

09-19940-LMI

(Jointly Administered)



Report Period Beginning:	November 1, 2009	Period Ending:	November 30, 2009



PURPOSE OF ACCOUNT:		Overnight Deposit


Ending Balance per Bank Statement	$	51,657

Plus Total Amount of Outstanding Deposits	$	—

Minus Total Amount of Outstanding Checks and other debits	$	—	*

Minus Service Charges	$	—

Ending Balance per Check Register	$	51,657	**(a)


*Debit cards are used by NA		NA


**If Closing Balance is negative, provide explanation:		NA

The following disbursements were paid in Cash (do not includes items reported as Petty Cash on Attachment 4D:

(¨ Check here if cash disbursements were authorized by United States Trustee)


Date	Amount	Payee	Purpose	Reason for Cash Disbursement
None

TRANSFERS BETWEEN DEBTOR IN POSSESSION ACCOUNTS

“Total Amount of Outstanding Checks and other debits”, listed above, includes:


NA		Transferred to Payroll Account
NA		Transferred to Tax Account
NA		Transferred to BankUnited Financial Corp. - Operating
NA		Transferred to BankUnited Financial Corp. - MMA
NA		Transferred to BankUnited Financial Services - MMA
NA		Transferred to BU Realty Corporation - MMA

(a)	The total of this line on Attachment 4A, 4B and 4C plus the total of 4D must equal the amount reported as “Ending Balance” on Schedule of Receipts and Disbursements (Page MOR-2, Line 7).

MOR-7 (6)

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 44 of 54

ATTACHMENT 5A (6)

CHECK REGISTER - OPERATING ACCOUNT (Pre-Petition)

Name of Debtor:

BANKUNITED FINANCIAL

CORPORATION, ET AL.

Case Number:

09-19940-LMI

(Jointly Administered)



Report Period Beginning:	November 1, 2009	Period Ending:	November 30, 2009


DATE	CHECK NUMBER	PAYEE	PURPOSE	AMOUNT
None




































TOTAL				$	—

MOR-8 (6)

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 45 of 54

ATTACHMENT 4B

MONTHLY SUMMARY OF BANK ACTIVITY - PAYROLL ACCOUNT


Name of Debtor:	BANKUNITED FINANCIAL CORPORATION, ET AL.		Case Number:	09-19940-LMI
				(Jointly Administered)

Report Period Beginning:		November 1, 2009	Period Ending:	November 30, 2009

Attach a copy of current month bank statement and bank reconciliation to this Summary of Bank Activity. A standard bank reconciliation form can be found at http://www.usdoj.gov/ust/r21/index.htm.


Ending Balance per Bank Statement		NA

Plus Total Amount of Outstanding Deposits		NA

Minus Total Amount of Outstanding Checks and other debits		NA	*

Minus Service Charges		NA

Ending Balance per Check Register	$	—	**(a)


*Debit cards are used by		NA


**If Closing Balance is negative, provide explanation:		NA

The following disbursements were paid in Cash (do not includes items reported as Petty Cash on Attachment 4D:

( ¨ Check here if cash disbursements were authorized by United States Trustee)

Date

Amount

Payee

Purpose

Reason for Cash Disbursement

The following non-payroll disbursements were made from this account:

Date

Amount

Payee

Purpose

Reason for Disbursement from this account

(a)The total of this line on Attachment 4A, 4B and 4C plus the total of 4D must equal the amount reported As “Ending Balance” on Schedule of Receipts and Disbursements (Page MOR-2, Line 7).

MOR-9

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 46 of 54

ATTACHMENT 5B

CHECK REGISTER - PAYROLL ACCOUNT


Name of Debtor:	BANKUNITED FINANCIAL CORPORATION, ET AL.		Case Number:	09-19940-LMI
				(Jointly Administered)

Report Period Beginning:		November 1, 2009	Period Ending:	November 30, 2009

NAME OF BANK:	NA		BRANCH:	NA

ACCOUNT NAME:	NA

ACCOUNT NUMBER:	NA

PURPOSE OF ACCOUNT:	PAYROLL


DATE	CHECK NUMBER	PAYEE	PURPOSE	AMOUNT
NA


































TOTAL				$	—

MOR-10

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 47 of 54

ATTACHMENT 4C

MONTHLY SUMMARY OF BANK ACTIVITY - TAX ACCOUNT


Name of Debtor:	BANKUNITED FINANCIAL CORPORATION, ET AL.		Case Number:	09-19940-LMI
				(Jointly Administered)

Report Period Beginning:		November 1, 2009	Period Ending:	November 30, 2009

Attach a copy of current month bank statement and bank reconciliation to this Summary of Bank Activity. A standard bank reconciliation form can be found at http://www.usdoj.gov/ust/r21/index.htm.


Ending Balance per Bank Statement		NA

Plus Total Amount of Outstanding Deposits		NA

Minus Total Amount of Outstanding Checks and other debits		NA	*

Minus Service Charges		NA

Ending Balance per Check Register	$	—	**(a)


*Debit cards are used by		NA


**If Closing Balance is negative, provide explanation:		NA

The following disbursements were paid in Cash: ( ¨ Check here if cash disbursements were authorized by United States Trustee)

Date

Amount

Payee

Purpose

Reason for Cash Disbursement

The following non-tax disbursements were made from this account:

Date

Amount

Payee

Purpose

Reason for Disbursement from this account

(a)	The total of this line on Attachment 4A, 4B and 4C plus the total of 4D must equal the amount reported as “Ending Balance” on Schedule of Receipts and Disbursements (Page MOR-2, Line 7).

MOR-11

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 48 of 54

ATTACHMENT 5C

CHECK REGISTER - TAX ACCOUNT


Name of Debtor:	BANKUNITED FINANCIAL CORPORATION, ET AL.		Case Number:	09-19940-LMI
				(Jointly Administered)

Report Period Beginning:		November 1, 2009	Period Ending:	November 30, 2009

NAME OF BANK:	NA		BRANCH:	NA

ACCOUNT NAME:	NA

ACCOUNT NUMBER:	NA

PURPOSE OF ACCOUNT:	TAX


DATE	CHECK NUMBER	PAYEE	PURPOSE	AMOUNT
None














TOTAL				$	—	(d)

SUMMARY OF TAXES PAID


Payroll Taxes Paid	$	—	(a)

Sales & Use Taxes Paid	$	—	(b)

Other Taxes Paid	$	—	(c)

TOTAL	$	—	(d)

(a)	This number is reported in the “Current Month” column of Schedule of Receipts and Disbursements (Page MOR-2, Line 5O).

(b)	This number is reported in the “Current Month” column of Schedule or Receipts and Disbursements (Page MOR-2, Line 5P).

(c)	This number is reported in the “Current Month” column of Schedule of Receipts and Disbursements (Page MOR-2, Line 5Q).

(d)	These two lines must be equal.

MOR-12

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 49 of 54

ATTACHMENT 4D

INVESTMENT ACCOUNTS AND PETTY CASH REPORT

INVESTMENT ACCOUNTS

Each savings and investment account, i.e. certificates of deposits, money market accounts, stocks and bonds, etc., should be listed separately. Attach copies of account statements.

Type of Negotiable


Instrument	Face Value		Purchase Price		Date of Purchase	Current Market Value
Security Pledge - TOUSA	$	3,000,000	$	3,000,000	07/31/07		UNK

Overnight Deposit - FHLBank ATL	$	51,657	$	51,657	UNK	$	51,657

Hedge Fund - Investment in Malta Hedge Fund II, LP		UNK		UNK	05/01/02	$	1,054,742

Private Equity - Investment in SOAM Capital Partners, LP	$	250,000	$	250,000	UNK	$	151,966








TOTAL						$	1,258,365	(a)

PETTY CASH REPORT

The following Petty Cash Drawers/Accounts are maintained:


(1) Location of Box/Account	(2) Maximum Amount of Cash in Drawer/Acct.	(3) Amout of Petty Cash On Hand At End of Month			(4) Difference between (Column 2) and (Column 3)
None					$	—

					$	—


TOTAL		$	—	(b)


For any Petty Cash Disbursements over $100 per transaction, attach copies of receipts. If there are no receipts, provide an explanation. NA


TOTAL INVESTMENT ACCOUNTS AND PETTY CASH (A+B)	$	1,258,365	(c)

(c)	The total of this line on Attachment 4A, 4B and 4C plus the total of 4D must equal the amount reported as “Ending Balance” on Schedule of Receipts and Disbursements (Page MOR-2, Line 7).

MOR-13

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 50 of 54

Malta Hedge Fund II, L.P.

PRELIMINARY Monthly Balances with Performance, Year To Date as of: 11/30/2009

Joseph J. Luzinski

Development Specialists, Inc.

200 South Biscayne Blvd

Suite 1818

Miami, FL 33131

Account of: BankUnited Financial

Initial Investment on: May 1, 2002


Month Ending	Contributions		Withdrawals		Net Income		Net Balance		Net Return
Dec-2008							$	2,845,855

Jan-2009	$	0	$	-2,000,000	$	-22,143	$	823,712	-2.62	%
Feb-2009	$	0	$	0	$	11,685	$	835,397	1.42	%
Mar-2009	$	0	$	0	$	13,426	$	848,823	1.61	%
								1st Quarter:	0.35	%
Apr-2009	$	0	$	0	$	33,264	$	882,087	3.92	%
May-2009	$	0	$	0	$	63,434	$	945,521	7.19	%
Jun-2009	$	0	$	0	$	15,168	$	960,689	1.60	%
								2nd Quarter:	13.18	%
Jul-2009	$	0	$	0	$	43,440	$	1,004,129	4.52	%
Aug-2009	$	0	$	0	$	37,514	$	1,041,643	3.74	%
Sep-2009	$	0	$	0	$	25,931	$	1,067,574	2.49	%
								3rd Quarter:	11.13	%
Oct-2009	$	0	$	0	$	-19,837	$	1,047,737	-1.86	%
Nov-2009	$	0	$	0	$	6,884	$	1,054,621	0.66	%

								Year To Date:	24.68	%

The above information is unaudited. The amounts reported are net of the accrued profit allocation although it is not actually deducted from your account until the end of the year or, if earlier, the date you withdraw from the fund.

Net income and net performance reflect the deduction of the profit allocation, a management fee, as well as other expenses,

cc: Mark Bloom

Malta Hedge Fund II, L.P.

Sandler O’Neill Asset Management, LLC

780 Third Avenue

5th Floor

New York, NY 10017

Tel: 212-486-7300 Fax: 212-486-7580


12/1/2009 2:58:09PM		*A FundRunner— Report*		© 1998-2004 Financial Interactive, Inc.		Page 1 of 1

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 51 of 54

ATTACHMENT 6

MONTHLY TAX REPORT


Name of Debtor:	BANKUNITED FINANCIAL CORPORATION, ET AL.		Case Number:	09-19940-LMI
				(Jointly Administered)

Reporting Period Beginning:		November 1, 2009	Period Ending:	November 30, 2009

TAXES OWED AND DUE

Report all unpaid post-petition taxes including Federal and State withholding FICA, State sales tax, property tax, unemployment tax, State workmen’s compensation, etc.


Name of Taxing Authority	Date Payment Due	Description	Amount		Date Last Tax Return Filed	Tax Return Period
None












TOTAL			$	—

MOR-14

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 52 of 54

ATTACHMENT 7

SUMMARY OF OFFICER OR OWNER COMPENSATION

SUMMARY OF PERSONNEL AND INSURANCE COVERAGES


Name of Debtor:	BANKUNITED FINANCIAL CORPORATION, ET AL.		Case Number:	09-19940-LMI
				(Jointly Administered)

Report Period Beginning:		November 1, 2009	Period Ending:	November 30, 2009

Report all forms of compensation received by or paid on behalf of the Officer or Owner during the month. Include car allowances, payments to retirement plans, loan repayments, payments of Officer/Owner’s personal expenses, insurance premium payments, etc. Do not include reimbursement for business expenses Officer or Owner incurred and for which detailed receipts are maintained in the accounting records.


Name of Officer or Owner	Title	Payment Description	Amount Paid

Joseph J. Luzinski	CRO	Monthly Compensation	$	30,000

PERSONNEL REPORT


	Full Time	Part Time
Number of employees at beginning of period	None	None

Number hired during the period	None	None

Number terminated or resigned during period	None	None

Number of employees on payroll at end of period	None	None

CONFIRMATION OF INSURANCE

List all policies of insurance in effect, including but not limited to workers’ compensation, liability, fire, theft, comprehensive, vehicle, health and life. For the first report, attach a copy of the declaration sheet for each type of insurance. For subsequent reports, attach a certificate of insurance for any policy in which a change occurs during the month (new carrier, increased policy limits, renewal, etc.).


Agent and/or Carrier	Phone Number	Policy Number	Coverage Type	Expiration Date	Date Premium Due
See Attached.

The following lapse in insurance coverage occurred this month:


Policy Type	Date Lapsed	Date Reinstated	Reason for Lapse
D&O	11/10/09	NA	Expiration.

D&O (excess)	11/10/09	NA	Expiration.

Professional Liability	11/10/09	NA	Expiration.

¨	¨ Check here if U. S. Trustee has been listed as Certificate Holder for all insurance policies.

MOR-15

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 53 of 54

BankUnited Financial Corp Insurance Policies

Policy Type

Insurance Company

Status

Policy Number

Limits

Beg

End

Total Cost

Insured

Status / Notes

Commercial Property

Lexington Insurance Company

Active

20412596

$25M

04/17/09

04/17/10

487,792.58

BUFC and FSB

Commercial Property

Underwriters at Lloyd’s

Active

RP 1000115

Rpt Monthly Value

04/17/09

04/15/10

—

Workers Compensation

American Guarantee & Liability

Active

WC938091106

Fl Stat $1M

Employers Liab

12/31/08

12/31/09

506,462.00

General Liability (Foreclosed Prop)

Underwriters at Lloyd’s

Active

RL1000115

$1M / $10M

Aggregate

04/17/09

04/15/10

—

General Liability

Colonial American Casualty & Surety

Active

FIA100079507

$1M / $2M

Aggregate

04/17/09

04/17/10

195,514.60

Insurance

Case 09-19940-LMI Doc 417 Filed 12/30/09 Page 54 of 54

ATTACHMENT 8

SIGNIFICANT DEVELOPMENTS DURING REPORTING PERIOD

Information to be provided on this page, includes, but is not limited to: (1) financial transactions that are not reported on this report, such as the sale of real estate (attach closing statement); (2) non-financial transactions, such as the substitution of assets or collateral; (3) modifications to loan agreements; (4) change in senior management, etc. Attach any relevant documents.

No significant developments occurred during the period.

We anticipate filing a Plan of Reorganization and Disclosure Statement on or before: UNKNOWN .

MOR-16

Case 09-19940-LMI Doc 416 Filed 12/30/09 Page 1 of 3

UNITED STATES BANKRUPTCY COURT

SOUTHERN DISTRICT OF FLORIDA

MIAMI DIVISION


IN RE:	}	CASE NUMBER 09-19941-LMI
	}
BANKUNITED FINANCIAL SERVICES, INC.	}
BANKUNITED FINANCIAL SERVICES, INC.	}	JUDGE Hon. Laurel M. Isicoff
	}
DEBTOR.	}	CHAPTER 11

DEBTORS’ CONSOLIDATED STANDARD MONTHLY OPERATING REPORT (BUSINESS)

FOR THE PERIOD


		FROM		November 1, 2009		TO		November 30, 2009

Comes now the above-named debtor and files its Monthly Operating Reports in accordance with the Guidelines established by the United States Trustee and FRBP 2015.


				/s/ Joseph J. Luzinski , as CRO
				Debtor’s Signature

Debtor’s Address and Phone Number:				Attorney’s Address and Phone Number:

c/o Development Specialists, Inc.				Greenberg Traurig, P.A.

200 South Biscayne Boulevard, Suite 1818				1221 Brickell Avenue

Miami, FL 33131-2329				Miami, FL 33131

(305) 374-2717				(305) 579-0500

For assistance in preparing the Monthly Operating Report, refer to the following resources on the United States Trustee Program Website, http://www.usdoj.gov/ust/r21/index.htm.

1)	Instructions for Preparations of Debtor’s Chapter 11 Monthly Operating Report

2)	Initial Filing Requirements

3)	Frequently Asked Questions (FAQs) http://www.usdoj.gov/ust/.

MOR-1

Case 09-19940-LMI Doc 416 Filed 12/30/09 Page 2 of 3

GENERAL DISCLAIMER

This bankruptcy case was filed on May 22, 2009, the day after the regulatory seizure of Debtor BankUnited Financial Corporation’s wholly-owned banking subsidiary, BankUnited, FSB, and the ensuing sale of that subsidiary's assets by the Federal Deposit Insurance Corporation to BankUnited, a de novo federal savings association organized under the laws of the United States (“New Bank”). The Debtors’ current Chief Restructuring Officer, Joseph J. Luzinski (the “CRO”) was appointed effective June 2, 2009, eleven days after these cases were filed. Nearly all of the books and records of the Debtors are presently in the possession of the FDIC or New Bank. Accordingly, the information contained herein is based on the information currently available to the CRO and is subject to modification as additional information becomes available.

Nothing herein shall be construed as an admission or determination by the Debtor as to any amount or value set forth herein, the validity of any debt listed herein, ownership of any asset listed herein, the completeness of any financial statement set forth herein, or otherwise as to the accuracy or completeness of any information contained herein. The Debtor expressly reserve the right to modify any and all information contained herein as additional information becomes available.

Case 09-19940-LMI Doc 416 Filed 12/30/09 Page 3 of 3

SCHEDULE OF RECEIPTS AND DISBURSEMENTS

FOR THE PERIOD BEGINNING November 1, 2009 AND ENDING November 30, 2009

Name of Debtor:

BANKUNITED FINANCIAL

SERVICES, INC.

Case Number

09-19941-LMI


Date of Petition:		May 22, 2009


			CURRENT MONTH			CUMULATIVE PETITION TO DATE
1. FUNDS AT BEGINNING OF PERIOD			$	2,130,261	(a)	$	—	(b)

2. RECEIPTS:
A. Cash Sales			$	—		$	—

Minus: Cash Refunds	(-	)	$	—		$	—

Net Cash Sales			$	—		$	—

B. Accounts Receivable			$	—		$	—

C. Other Receipts (See MOR-3)			$	225		$	2,132,082

(If you receive rental income,you must attach a rent roll.)
3. TOTAL RECEIPTS *(Lines 2A+2B+2C)*			$	225		$	2,132,082


4. TOTAL FUNDS AVAILABLE FOR OPERATIONS *(Line 1 + Line 3)*			$	2,130,486		$	2,132,082


5 DISBURSEMENTS
A. Advertising			$	—		$	—

B. Bank Charges			$	—		$	—

C. Contract Labor			$	—		$	796

D. Fixed Asset Payments (not incl. in “N”)			$	—		$	—

E. Insurance			$	—		$	—

F. Inventory Payments (See Attach. 2)			$	—		$	—

G. Leases			$	—		$	—

H. Manufacturing Supplies			$	—		$	—

I. Office Supplies			$	—		$	—

J. Payroll - Net (See Attachment 4B)			$	—		$	—

K. Professional Fees (Accounting & Legal)			$	—		$	—

L. Rent			$	—		$	—

M. Repairs & Maintenance			$	—		$	—

N. Secured Creditor Payments (See Attach. 2)			$	—		$	—

O. Taxes Paid - Payroll (See Attachment 4C)			$	—		$	—

P. Taxes Paid - Sales & Use (See Attachment 4C)			$	—		$	—

Q. Taxes Paid - Other (See Attachment 4C)			$	—		$	—

R. Telephone			$	—		$	—

S. Travel & Entertainment			$	—		$	—

T. U.S. Trustee Quarterly Fees			$	—		$	650

U. Utilities			$	—		$	—

V. Vehicle Expenses			$	—		$	—

W. Other Operating Expenses (See MOR-3)			$	—		$	150

6. TOTAL DISBURSEMENTS *(Sum of 5A thru W)*			$	—		$	1,596

7. ENDING BALANCE *(Line 4 Minus Line 6)*			$	2,130,486	(c)	$	2,130,486	(c)


This 18th day of December 2009				/s/ Joseph J. Luzinski, as CRO
				(Signature)

(a)	This number is carried forward from last month's report. For the first report only, this number will be the balance as of the petition date.

(b)	This figure will not change from month to month. It is always the amount of funds on hand as of the date of the petition.

(c)	These two amounts will always be the same if form is completed correctly.

MOR-2

Case 09-19940-LMI Doc 418 Filed 12/30/09 Page 1 of 3

UNITED STATES BANKRUPTCY COURT

SOUTHERN DISTRICT OF FLORIDA

MIAMI DIVISION


IN RE:	}	CASE NUMBER 09-19942-LMI
	}
CRE AMERICA CORPORATION	}
CRE AMERICA CORPORATION	}	JUDGE Hon. Laurel M. Isicoff
	}
DEBTOR.	}	CHAPTER 11

DEBTORS’ CONSOLIDATED STANDARD MONTHLY OPERATING REPORT (BUSINESS)

FOR THE PERIOD


		FROM		November 1, 2009		TO		November 30, 2009

Comes now the above-named debtor and files its Monthly Operating Reports in accordance with the Guidelines established by the United States Trustee and FRBP 2015.


				/s/ Joseph J. Luzinski: , as CRO
				Debtor’s Signature

Debtor’s Address and Phone Number:				Attorney’s Address and Phone Number:

c/o Development Specialists, Inc.				Greenberg Traurig, P.A.

200 South Biscayne Boulevard, Suite 1818				1221 Brickell Avenue

Miami, FL 33131-2329				Miami, FL 33131

(305) 374-2717				(305) 579-0500

For assistance in preparing the Monthly Operating Report, refer to the following resources on the United States Trustee Program Website, http://www.usdoj.gov/ust/r21/index.htm.

1)	Instructions for Preparations of Debtor’s Chapter 11 Monthly Operating Report

2)	Initial Filing Requirements

3)	Frequently Asked Questions (FAQs) http://www.usdoj.gov/ust/.

MOR-1

Case 09-19940-LMI Doc 418 Filed 12/30/09 Page 2 of 3

GENERAL DISCLAIMER

This bankruptcy case was filed on May 22, 2009, the day after the regulatory seizure of Debtor BankUnited Financial Corporation’s wholly-owned banking subsidiary, BankUnited, FSB, and the ensuing sale of that subsidiary’s assets by the Federal Deposit Insurance Corporation to BankUnited, a de novo federal savings association organized under the laws of the United States (“New Bank”). The Debtors’ current Chief Restructuring Officer, Joseph J. Luzinski (the “CRO”) was appointed effective June 2, 2009, eleven days after these cases were filed. Nearly all of the books and records of the Debtors are presently in the possession of the FDIC or New Bank. Accordingly, the information contained herein is based on the information currently available to the CRO and is subject to modification as additional information becomes available.

Case 09-19940-LMI Doc 418 Filed 12/30/09 Page 3 of 3

SCHEDULE OF RECEIPTS AND DISBURSEMENTS

FOR THE PERIOD BEGINNING November 1, 2009 AND ENDING November 30, 2009


Name of Debtor:		CRE AMERICA CORPORATION				Case Number		09-19942-LMI


Date of Petition:		May 22, 2009


			CURRENT MONTH			CUMULATIVE PETITION TO DATE
1. FUNDS AT BEGINNING OF PERIOD			$	239,035	(a)	$	—	(b)

2. RECEIPTS:
A. Cash Sales			$	—		$	—

Minus: Cash Refunds	(-	)	$	—		$	—

Net Cash Sales			$	—		$	—

B. Accounts Receivable			$	—		$	—

C. Other Receipts (See MOR-3)			$	10		$	239,845

(If you receive rental income, you must attach a rent roll.)
3. TOTAL RECEIPTS *(Lines 2A+2B+2C)*			$	10		$	239,845


4. TOTAL FUNDS AVAILABLE FOR OPERATIONS *(Line 1 + Line 3)*			$	239,045		$	239,845


5 DISBURSEMENTS
A. Advertising			$	—		$	—

B. Bank Charges			$	—		$	—

C. Contract Labor			$	—		$	—

D. Fixed Asset Payments (not incl. in “N”)			$	—		$	—

E. Insurance			$	—		$	—

F. Inventory Payments (See Attach. 2)			$	—		$	—

G. Leases			$	—		$	—

H. Manufacturing Supplies			$	—		$	—

I. Office Supplies			$	—		$	—

J. Payroll - Net (See Attachment 4B)			$	—		$	—

K. Professional Fees (Accounting & Legal)			$	—		$	—

L. Rent			$	—		$	—

M. Repairs & Maintenance			$	—		$	—

N. Secured Creditor Payments (See Attach. 2)			$	—		$	—

O. Taxes Paid - Payroll (See Attachment 4C)			$	—		$	—

P. Taxes Paid - Sales & Use (See Attachment 4C)			$	—		$	—

Q. Taxes Paid - Other (See Attachment 4C)			$	—		$	—

R. Telephone			$	—		$	—

S. Travel & Entertainment			$	—		$	—

T. U.S. Trustee Quarterly Fees			$	—		$	650

U. Utilities			$	—		$	—

V. Vehicle Expenses			$	—		$	—

W. Other Operating Expenses (See MOR-3)			$	—		$	150

6. TOTAL DISBURSEMENTS *(Sum of 5A thru W)*			$	—		$	800


7. ENDING BALANCE *(Line 4 Minus Line 6)*			$	239,045	(c)	$	239,045	(c)


This 18th day of December 2009				/s/ Joseph J. Luzinski, as CRO
				(Signature)

(a)	This number is carried forward from last month's report. For the first report only, this number will be the balance as of the petition date.

(b)	This figure will not change from month to month. It is always the amount of funds on hand as of the date of the petition.

(c)	These two amounts will always be the same if form is completed correctly.

MOR-2

NAME OF BANK:

JPMorgan Chase

New York, New York

ACCOUNT NAME:

BankUnited Financial Corp., DIP

ACCOUNT NUMBER:

PURPOSE OF ACCOUNT:

OPERATING (Checking)