12. Equity Method Investment in Affiliate

In December 2012, the Predecessor’s Board of Directors approved the distribution of its entire equity interest in HA EnergySource Holdings LLC (“HA EnergySource”) that owned a minority interest in EnergySource to the Predecessor’s shareholders effective December 31, 2012. Prior to and as part of the transaction, the Board approved a $3.4 million capital commitment to HA EnergySource to be used by HA EnergySource for general corporate purposes, future investments or dividends to HA EnergySource owners. Such amount was included in accounts payable and accrued expenses at December 31, 2012 and was fully paid at September 30, 2013. Prior to December 2012, the Predecessor accounted for its investment using the equity method of accounting. After December 31, 2012, the Company no longer has any direct or indirect ownership in HA EnergySource or EnergySource.

The following is a summary of the financial position of EnergySource as of December 31, 2012, accounted for using the equity method:

The Company has provided investment banking and management services to EnergySource. For the three and nine months ended September 30, 2013, the Company recorded income of $0.03 million and $0.5 million, respectively, as compared to $8.4 million and $8.8 million, for the three and nine months ended September 30, 2012, respectively.