CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS (Tables)

9 Months Ended

Jun. 30, 2012

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS [Abstract]

Details of receivable and payables and fees, dividends and reimbursed expenses

In the ordinary course of its business operations, the Company has ongoing relationships with several related entities.  The following table details the receivables and payables with these related parties (in thousands):

	June 30,		September 30,
	2012		2011
Receivables from managed entities and related parties, net:
Commercial finance investment entities (1)	$	19,853	$	29,725
Real estate investment entities (2)		18,398		19,796
Financial fund management investment entities		3,550		2,652
RSO		4,907		2,539
Other		209		103
Receivables from managed entities and related parties	$	46,917	$	54,815
Payables due to managed entities and related parties, net:
Real estate investment entities	$	1,396	$	1,010
RSO		30		222
Payables to managed entities and related parties	$	1,426	$	1,232

(1) Reflects $18.8 million of reserves for credit losses related to management fees owed from three commercial finance investment entities that, based on a change in estimated cash distributions, are not expected to be collectible.

(2) Reflects $2.4 million of reserves for credit losses related to management fees owed from two real estate investment entities that, based on projected cash flows, are not expected to be collectible.

Schedule of fees, dividends and reimbursed expenses from several related/managed entities

The Company receives fees, dividends and reimbursed expenses from several related/managed entities.  In addition, the Company reimburses another related entity for certain operating expenses.  The following table details those activities (in thousands):

	Three Months Ended						Nine Months Ended
	June 30,						June 30,
	2012			2011			2012			2011
Fees from unconsolidated investment entities (1) :
Real estate(2)	$	4,405		$	3,753		$	12,862		$	9,909
Financial fund management		765			1,038			2,468			3,523
RSO:
Management, incentive and servicing fees		4,181			2,582			11,521			8,880
Dividends received		510			612			1,646			1,835
Reimbursement of expenses		1,134			687			2,731			1,708
RRE Opportunity REIT: Reimbursement of costs and expensesand expenses		150			473			785			1,441
Dividends received		14			−			14			−
Atlas Energy, L.P.- reimbursement of net costs and expenses		160			220			478			830
LEAF:
Reimbursement of net costs and expenses		84			−			226			−
Payment for rent and related expenses		(193	)		−			(497	)		−
Payment for sub-servicing the commercial finance       investment partnerships		(585	)		−			(1,696	)		−
1845 Walnut Associates Ltd- payment of rent and operating expenses		(155	)		(152	)		(469	)		(522	)
Graphic Images, LLC- payment for printing services		(34	)		(61	)		(136	)		(96	)
9 Henmar LLC- payment of broker/consulting fees		(20	)		(20	)		(42	)		(46	)
Ledgewood P.C. - payment for legal services		(239	)		(357	)		(508	)		(491	)
TBBK - reimbursement of net costs and expenses		32			8			106			8

(1) During the three and nine months ended June 30, 2012, the Company waived $1.1 million and $3.8 million, respectively, and $1.9 million and $6.4 million during the three and nine months ended June 30, 2011, respectively, of its fund management fees from its commercial finance investment entities.

(2) Reflects discounts recorded by the Company of $57,000 and $185,000 recorded in the three and nine months ended June 30, 2012, respectively, and $512,000 and $702,000 for the three and nine months ended June 30, 2011, respectively, in connection with management fees from its real estate investment entities that it expects to receive in future periods.