Liquidations & Insolvencies

Three Arrows Capital Ltd.: Provisional Relief Order

Order Granting Emergency Motion for Provisional Relief by Russell Crumpler and Christopher Farmer, as the Foreign Representatives of Three Arrows Capital Ltd., a cryptocurrency hedge fund based in Singapore, at the U.S. Bankruptcy Court for the Southern District of New York.
Three Arrows Capital

Founders of failed crypto fund Three Arrows Capital ‘not cooperating’ with liquidators

The liquidators of Singapore-based, British Virgin Islands-domiciled cryptocurrency hedge fund Three Arrows Capital have applied to take emergency discovery from the firm's 'uncooperative' Founders - Kyle Davies and Su Zhu - to help secure assets for creditors, with Zhu "rumored to be attempting to sell a property in Singapore with a potential value in the tens of millions of dollars".

Three Arrows Capital Ltd.: Emergency Motion for Provisional Relief

Emergency Motion for Provisional Relief by Russell Crumpler and Christopher Farmer, as the Foreign Representatives of Three Arrows Capital Ltd., a cryptocurrency hedge fund based in Singapore, at the U.S. Bankruptcy Court for the Southern District of New York.

Wesley Edwards: Judgment (Block Transfer of Liquidations & Receiverships)

Judgment regarding the Court's authority to make block transfers of insolvency appointments, whether a licence is required "to permit the transfer of receiverships over assets frozen by the sanctions imposed against Russian entities following Russia’s invasion of Ukraine", and whether to seal and anonymize the case "given the sensitive nature of his appointment" in the matter of Wesley Edwards, formerly of Begbies Traynor (BVI) Ltd., now with CVR Global LLP, at the British Virgin Islands High Court.

New World Holdings: ‘Court Supervision’ Petition

Petition for Court Supervision of a Voluntary Liquidation in the matter of New World Holdings (in Voluntary Liquidation), described as "a holding company for a range of investment management businesses including lnvictus Hyperion, lnvictus Asset Management Limited, lnvictus Alpha Limited and lnvictus Capital Financial Technologies SPC (and its segregated portfolios), all of which are involved with investing in cryptocurrency assets", at the Grand Court of the Cayman Islands.

Premier Assurance Group SPC Ltd. v. Lyncpay LLC et al: Complaint

Complaint regarding "approximately $2.9 million held in an account established at BANA" in Jeffrey Stower and Jason Robinson, as the Foreign Representatives of Premier Assurance Group SPC Ltd., of the Cayman Islands v. Lyncpay LLC, Bank of America NA, and JV Wind Down LLC, as successor by merger to Banc of America Merchant Services LLC, at the U.S. Bankruptcy Court for the Southern District of Florida.

Voyager Digital Holdings Inc. et al: Chapter 11 Petition

Chapter 11 Petition by Voyager Digital Holdings Inc., of New York; Voyager Digital LLC, of New Jersey, and Voyager Digital Ltd., of Canada, which are part of a group comprising entities in Canada, Cayman Islands, Denmark, Estonia, France, United Kingdom, and USA that operates "a cryptocurrency brokerage" that is "facing a short-term 'run on the bank' due to the downturn in the cryptocurrency industry generally and the default of a significant loan made to a third party", which was identified as British Virgin Islands-domiciled, Singapore-based "cryptocurrency hedge fund" Three Arrows Capital Ltd., filed at the U.S. Bankruptcy Court for the Southern District of New York.

SAS Group: Chapter 11 Petition

Chapter 11 Petition by SAS AB, SAS Danmark A/S, SAS Norge AS, SAS Sverige AB, Scandinavian Airlines System Denmark-Norway-Sweden, Scandinavian Airlines of North America Inc. (2393), Gorm Asset Management Ltd., Gorm Dark Blue Ltd., Gorm Deep Blue Ltd., Gorm Sky Blue Ltd., Gorm Warm Red Ltd., Gorm Light Blue Ltd., Gorm Ocean Blue Ltd., and Gorm Engine Management Ltd., part of a group whose owners include the Governments of Sweden and Denmark, at the U.S. Bankruptcy Court for the Southern District of New York.

Three Arrows Capital Ltd.: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the British Virgin Islands by Russell Crumpler and Christopher Farmer, as the Foreign Representatives of Three Arrows Capital Ltd., described as "an investment firm incorporated in the BVI with a focus on trading cryptocurrency and other digital assets that was reported to have over $3 billion of assets under management as of April 2022", filed at the U.S. Bankruptcy Court for the Southern District of New York.

Carillion Plc: Public Censure

Decision Notice by the United Kingdom's Financial Conduct Authority imposing a "Public Censure" on Carillion Plc, described as "a leading international construction, project finance and support services business operating in the UK, Canada and Middle East" before it went into liquidation in 2018, for regulatory breaches involving market manipulation, the dissemination of misleading information, and "acting with integrity".

Glen Ho et al v. RZ3262019 Ltd. et al: Receivership Application

Originating Application in Glen Ho and Forrest Kam, both of Deloitte Touche Tohmatsu, of Hong Kong, as Receivers over all of the issued shares in Happy Magic Enterprises Inc. and Carton International Limited v. RZ3262019 Limited, Happy Magic Enterprises Inc., Carton International Limited, Happy Lion Ventures Ltd., and Chinex Limited at the British Virgin Islands High Court.

Revlon Inc. et al: Chapter 11 Petition

Chapter 11 Petition involving entities in several jurisdictions, including the Cayman Islands, Canada, England, and USA by Revlon, Inc., Revlon Consumer Products Corporation, Almay, Inc., Art & Science, Ltd., Bari Cosmetics, Ltd., Beautyge Brands USA, Inc., Beautyge U.S.A., Inc., Charles Revson Inc., Creative Nail Design, Inc., Cutex, Inc., DF Enterprises, Inc., Elizabeth Arden (Financing), Inc., Elizabeth Arden Investments, LLC, Elizabeth Arden NM, LLC, Elizabeth Arden Travel Retail, Inc., Elizabeth Arden USC, LLC, Elizabeth Arden, Inc., FD Management, Inc., North America Revsale Inc., OPP Products, Inc., RDEN Management, Inc., Realistic Roux Professional Products Inc., Revlon Development Corp., Revlon Government Sales, Inc., Revlon International Corporation, Revlon Professional Holding Company LLC, Riros Corporation, Riros Group Inc., Roux Laboratories, Inc., Roux Properties Jacksonville, LLC, SinfulColors Inc., RML, LLC, PPI Two Corporation, Revlon (Puerto Rico) Inc., Elizabeth Arden (UK) Ltd., Elizabeth Arden (Canada) Limited, Revlon Canada Inc., Beautyge I, Beautyge II, LLC, BrandCo Almay 2020 LLC, BrandCo Charlie 2020 LLC, BrandCo CND 2020 LLC, BrandCo Curve 2020 LLC, BrandCo Elizabeth Arden 2020 LLC, BrandCo Giorgio Beverly Hills 2020 LLC, BrandCo Halston 2020 LLC, BrandCo Jean Nate 2020 LLC, BrandCo Mitchum 2020 LLC, BrandCo Multicultural Group 2020 LLC, BrandCo PS 2020 LLC, and BrandCo White Shoulders 2020 LLC at the U.S. Bankruptcy Court for the Southern District of New York.

Agro Santino OOD: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Bulgaria by Yordanka lvanova Panchovska, as the Foreign Representative of Agro Santino OOD, described as an "agricultural producer", filed at the U.S. Bankruptcy Court of the Southern District of New York.

William Laggner et al v. Uphold Ltd.: Winding Up Petition (2022)

Winding Up Petition in William Laggner, of Dallas, Texas; Bearing Ventures LLC, of Delaware; West End Capital II LLC, of New York, NY; Charles Simmons, of Houston, Texas; Peter Kearns, of Princeton, New Jersey, and Michael Zaitsev, of New York, NY, v. Uphold Ltd., described as "a wallet blockchain platform that facilitates payments within and to the financial services industry", at the Grand Court of the Cayman Islands.

Hidili Industry International Development Ltd.: Chapter 15 Petition

Chapter 15 Petition for the Recognition of a Foreign Main Proceeding in Hong Kong by Chu Lai Kuen, as the Foreign Representative of Hidili Industry International Development Limited, described as a Cayman Islands "investment holding company and the ultimate parent of a large number of direct and indirect subsidiaries, which are primarily engaged in coal mine production, mining operations, mine development, and the manufacture and sale of clean coal and coke in the People’s Republic of China", filed at the U.S. Bankruptcy Court for the Southern District of New York.

Ronald Popely et al: Disqualifications

Press release by The Insolvency Service, in the United Kingdom that it has imposed disqualifications on Ronald Albert Popely, described as a resident of Gibraltar; Darren James Popely, and Stephen William Dickson for their roles in a scheme "to invest in hotel rooms" involving the Hever Hotel, in Kent, England.

Modern Land (China) Co. Ltd.: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Zhang Peng, as the Foreign Representative of Modern Land (China) Co. Ltd., described as "the ultimate holding company of a group of companies comprising the Debtor and its subsidiaries, including Great Trade Technology Ltd., a holding company incorporated with limited liability in the British Virgin Islands, the Modern Land HK Companies, and Jiu Yun Development Co., Limited, a holding company incorporated with limited liability in Hong Kong, that carries out the business of real estate investment and development in the People’s Republic of China", filed at the U.S. Bankruptcy Court for the Southern District of New York.

Flower SPV 4 Ltd. v. Fantasia Holdings Group Co. Ltd.: Winding Up Petition

Winding Up Petition in Flower SPV 4 Limited v. Fantasia Holdings Group Co. Limited, described as "an investment holding company that has subsidiaries in the People's Republic of China, Hong Kong, BVI, USA, Singapore, Cayman Islands, Japan, and Macau", at the Grand Court of the Cayman Islands.

LATAM Airlines Group SA et al v. Wamos Air SA: Complaint ($754,571)

Complaint to avoid allegedly fraudulent transfers totaling $754,571 in LATAM Airlines Group S.A., of Chile, described as "Latin America’s leading airline group", et al v. Wamos Air SA, of Spain, at the U.S. Bankruptcy Court for the Southern District of New York.