Liquidations & Insolvencies

Complaint to avoid and recover “fraudulent” transfers of $1,102,962 in Luc Despins, as the Chapter 11 Trustee for Ho Wan Kwok, a citizen of China currently in custody in the United States awaiting trial for an alleged $1 billion fraud and money laundering scheme v. Premiere Accounting Solutions Ltd., of New Zealand, at the U.S. Bankruptcy Court for the District of Connecticut.

The U.S. Bankruptcy Trustee of New York-based, Chinese national Ho Wan Kwok, who is in custody awaiting trial for allegedly laundering more than $1 billion of fraud proceeds, has sued British Virgin Islands law firm Ogier in an attempt to recover $350,000 in 'unauthorized transfers', one of 23 recently-filed complaints against entities in Australia, BVI, England, Italy, Japan, and U.S. seeking to recover a total of $28.7 million in 'unauthorized or fraudulent' transfers.

Complaint to avoid and recover "fraudulent" transfers of $46,014 in Luc Despins, as the Chapter 11 Trustee for Ho Wan Kwok, a citizen of China currently in custody in the United States awaiting trial for an alleged $1 billion fraud and money laundering scheme v. FFP (BVI) Limited, of the British Virgin Islands, at the U.S. Bankruptcy Court for the District of Connecticut.

Complaint in Luc Despins, as the Chapter 11 Trustee for Ho Wan Kwok, a citizen of China currently in custody in the United States awaiting trial for an alleged $1 billion fraud and money laundering scheme v. Mary Fashion SpA, of Italy, at the U.S. Bankruptcy Court for the District of Connecticut.

Complaint in Luc Despins, as the Chapter 11 Trustee for Ho Wan Kwok, a citizen of China currently in custody in the United States awaiting trial for an alleged $1 billion fraud and money laundering scheme v. Imperius International Trade Co. Ltd., of Japan, at the U.S. Bankruptcy Court for the District of Connecticut.

Complaint in Luc Despins, as the Chapter 11 Trustee for Ho Wan Kwok, a citizen of China currently in custody in the United States awaiting trial for an alleged $1 billion fraud and money laundering scheme v. Studio Cataldi Group SRL, of Italy, at the U.S. Bankruptcy Court for the District of Connecticut.

Complaint in Luc Despins, as the Chapter 11 Trustee for Ho Wan Kwok, a citizen of China currently in custody in the United States awaiting trial for an alleged $1 billion fraud and money laundering scheme v. Farrant Group Limited, of England, at the U.S. Bankruptcy Court for the District of Connecticut.

Complaint in Luc Despins, as the Chapter 11 Trustee for Ho Wan Kwok, a citizen of China currently in custody in the United States awaiting trial for an alleged $1 billion fraud and money laundering scheme v. TT Resources 1 Pty Ltd., of Australia, at the U.S. Bankruptcy Court for the District of Connecticut.

Complaint in Luc Despins, as the Chapter 11 Trustee for Ho Wan Kwok, a citizen of China currently in custody in the United States awaiting trial for an alleged $1 billion fraud and money laundering scheme v. Ogier, a law firm in the British Virgin Islands, at the U.S. Bankruptcy Court for the District of Connecticut.

A U.S. lender claiming to be owed COP 14.7 million has filed a petition at the Grand Court of the Cayman Islands to wind up the holding company of Colombian financial services group Zinobe, whose subsidiaries provide consumer and commercial credit services in Colombia and Mexico.

Originating Application in Mahi Lending Services Limited v. Real Assets (RA) Global Opportunity Fund I Ltd. at the British Virgin Islands High Court.

Petition for Court Supervision of a Voluntary Liquidation in the matter of Tasameem Strategic Fund SPC (in Voluntary Liquidation) at the Grand Court of the Cayman Islands.

Winding Up Petition in York Town I, LLC, of Delaware, USA v. Zinobe Holdings Limited, which "carries on business as a holding company, holding shares in subsidiaries that provide financial services, including consumer and commercial credit services, to third parties in Colombia and Mexico", at the Grand Court of the Cayman Islands.

Three Arrows Fund - the offshore feeder fund for British Virgin Islands-domiciled, Singapore-based failed crypto hedge fund Three Arrows Capital - has applied for Chapter 15 bankruptcy recognition in New York.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the British Virgin Islands by Paul Pretlove, James Drury, and David Standish, all of Interpath, as the Foreign Representatives of Three Arrows Fund, Ltd. (in Liquidation), which was "founded by Kyle Davies and Su Zhu" and was "the offshore feeder fund of Three Arrows Capital, Ltd.", which was described as "one of the largest crypto and digital asset venture capital firms in the world", filed at the U.S. Bankruptcy Court for the Southern District of New York.

Petition for Court Supervision of a Voluntary Liquidation in the matter of SCF Brazil, Cayman Feeder SPC (in Voluntary Liquidation) at the Grand Court of the Cayman Islands.

A Luxembourg property firm seeking to collect on a CHF 63 million arbitration award for unpaid rent on leased premises in Switzerland has applied to wind up a Cayman Islands entity that is part of the GEMS Education Group, which is one of the world's largest operators of private schools.

Winding Up Petition regarding an "Arbitration Award" of CHF63,161,980 arising from "a dispute regarding breaches of a series of lease agreements in relation to four adjacent parcels of land located in Etoy, Switzerland" in Meigerhorn II Etoy Sàrl, of Luxembourg v. GEMS Global Schools Limited, described as "part of the Global Education Management Systems (GEMS) group of companies which carries on business in jurisdictions around the world including Dubai, Switzerland, United Kingdom and United States", at the Grand Court of the Cayman Islands.

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Citing a debt of $404 million and the need for an "urgent investigation" into the conduct of its 49-year-old founder, chairman, and CEO, José Neves, U.S. financial services provider Wilmington Trust has filed a petition at the Grand Court of the Cayman Islands to wind up Cayman-domiciled, United Kingdom-based luxury fashion e-commerce firm Farfetch Limited.

Amended Complaint alleging "a massive scheme to fraudulently transfer Acis’s assets" to "ensure that Josh Terry would collect nothing from Acis for his hard-fought Arbitration Award of nearly $8 million" in Acis Capital Management, L.P. and Acis Capital Management GP, LLC v. James Dondero, Frank Waterhouse, Scott Ellington, Hunter Govitz, Isaac Leventon, Jean Paul Sevilla, Thomas Surgent, Grant Scott, Heather Bestwick, William Scott, and CLO HoldCo Ltd., of the Cayman Islands, at the U.S. Bankruptcy Court for the Northern District of Texas.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Japan by Yoko Takemura, as the Foreign Representative of Masaharu Hori, filed at the U.S. Bankruptcy Court for the District of Hawaii.

Winding Up Petition in Wilmington Trust, National Association, of Delaware, USA v. Farfetch Limited, described as "the ultimate holding company of a corporate group, with intermediate holding and operating companies in the United Kingdom, the United States, and other jurisdictions" which "comprises a global retail platform for the luxury fashion industry, a number of other e-commerce platforms, a number of fashion and beauty product labels, and a London department store", at the Grand Court of the Cayman Islands.

Originating Application in Terrae Nominees Ltd. v. Paul Pretlove, as Liquidator of Reachway Overseas Limited, at the British Virgin Islands High Court.

Originating Application in Terrae Nominees Ltd. v. Paul Pretlove, as Liquidator of Rabalo Limited, at the British Virgin Islands High Court.

Originating Application in Terrae Nominees Ltd. v. Paul Pretlove, as Liquidator of Olyserve Inc., at the British Virgin Islands High Court.

Originating Application in I.F.B.C Director Services Ltd. v. Paul Pretlove, as Liquidator of Garland Solutions Limited, at the British Virgin Islands High Court.

Originating Application in I.F.B.C Director Services Ltd. v. Paul Pretlove, as Liquidator of Diamond Forca Ltd., at the British Virgin Islands High Court.

Originating Application in Terrae Nominees Ltd. v. Paul Pretlove, as Liquidator of Blanche Union Ltd., at the British Virgin Islands High Court.

Complaint by "Customers of FTX.com located outside the United States of America, who held accounts on the FTX.com platform as of the Petition Date" seeking "a declaration that assets customers deposited, held, received, or acquired on the FTX.com platform are customer property and not property of the Debtors’ estates" in Sunil Kavuri, a citizen and resident of the United Kingdom; Ahmed Abd-El-Razek Noia Capital SÀRL, of Luxembourg, and Patrick Rabbitte v. FTX Trading Ltd., Alameda Research LLC, Alameda Research Ltd, Alameda Research Holdings Inc., Clifton Bay Investments LLC, West Realm Shires Services Inc., West Realm Shires Financial Services Inc., Ledger Holdings Inc., FTX Japan Holdings K.K., FTX Europe AG, FTX Property Holdings Ltd, LT Baskets Ltd., Alameda TR Ltd, Allston Way Ltd, Analisya Pte Ltd, Atlantis Technology Ltd., Bancroft Way Ltd, Blue Ridge Ltd, Cardinal Ventures Ltd, Cedar Bay Ltd, Liquid Securities Singapore Pte Ltd, Maclaurin Investments Ltd., Mangrove Cay Ltd, Paper Bird Inc, Pioneer Street Inc., Quoine India Pte Ltd, Quoine Vietnam Co. Ltd, SNG INVESTMENTS YATIRIM VE DANISMANLIK ANONIM SIRKETI, Strategy Ark Collective Ltd., Technology Services Bahamas Limited, Verdant Canyon Capital LLC, West Innovative Barista Ltd., Western Concord Enterprises Ltd., FTX Equity Record Holdings Ltd, FTX Exchange FZE, FTX Hong Kong Ltd, FTX Japan K.K., FTX Japan Services KK, Alameda Aus Pty Ltd, Alameda Research (Bahamas) Ltd, Alameda Research KK, Alameda Research Pte Ltd, Alameda Research Yankari Ltd, Alameda TR Systems S. de R. L., Blockfolio, Inc., Clifton Bay Investments Ltd, Cottonwood Grove Ltd, Crypto Bahamas LLC, Deep Creek Ltd, Digital Custody Inc., FTX Canada Inc, FTX Digital Holdings (Singapore) Pte Ltd, FTX Products (Singapore) Pte Ltd, FTX Services Solutions Ltd., FTX Structured Products AG, FTX Trading GmbH, FTX Zuma Ltd, Global Compass Dynamics Ltd., Goodman Investments Ltd., Hawaii Digital Assets Inc., Innovatia Ltd, Island Bay Ventures Inc, Killarney Lake Investments Ltd, Zubr Exchange Ltd, Alameda Global Services Ltd., Cottonwood Technologies Ltd, Deck Technologies Holdings LLC, Deck Technologies Inc., Euclid Way Ltd, FTX Digital Assets LLC, FTX EMEA Ltd., FTX US Trading, Inc., Hive Empire Trading Pty Ltd, Liquid Financial USA Inc., LiquidEX LLC, North Dimension Inc, North Wireless Dimension Inc., LedgerPrime Bitcoin Yield Enhancement Master Fund, LLC, LedgerPrime Digital Asset Opportunities Fund, LLC, LedgerPrime Digital Asset Opportunities Master Fund LP, LedgerPrime LLC, LedgerPrime Ventures, LP, North Dimension Ltd, Quoine Pte Ltd, Cedar Grove Technology Services, Ltd., DAAG Trading, DMCC, FTX Certificates GmbH, FTX Crypto Services Ltd., FTX EU Ltd., FTX Lend Inc., FTX Marketplace, Inc., FTX Switzerland GmbH, FTX TURKEY TEKNOLOJI VE TICARET ANONIM SIRKET, FTX US Services, Inc., FTX Ventures Ltd., GG Trading Terminal Ltd, Good Luck Games, LLC, Hannam Group Inc, Hilltop Technology Services LLC, West Realm Shires Inc., and LedgerPrime Bitcoin Yield Enhancement Fund, LLC at the U.S. Bankruptcy Court for the District of Delaware.

Citing criminal and regulatory investigations in the United States for suspected fraud and other "significant concerns”, an investment vehicle owned by scions of the founder of Coors beer has asked a Cayman Islands court to remove South African Hendrik Jordaan as voluntary liquidator of a private investment fund he operated - One Thousand & One Voices Africa Fund.

Originating Application in PJSC National Bank Trust, of Russia v. Coniston Management Limited at the British Virgin Islands High Court.

Federal Deposit Insurance Corporation's Objection to Chapter 15 Petition filed by Silicon Valley Bank (Cayman Islands Branch) at the U.S. Bankruptcy Court for the Southern District of New York.

Petition in Africa Investments LLC v. One Thousand & One Voices Africa Fund I Investors, Ltd., as General Partner for and on behalf of One Thousand & One Voices Africa Fund I Investors, L.P., as General Partner for and on behalf of One Thousand & One Voices Africa Fund I, L.P. (in Voluntary Liquidation), at the Grand Court of the Cayman Islands.

Chapter 11 Petition by GOL Linhas Aéreas Inteligentes SA, GOL Linhas Aéreas S.A., GTX S.A., GAC, Inc., Gol Finance (Luxembourg), Gol Finance (Cayman), Smiles Fidelidade S.A., Smiles Viagens e Turismo S.A., Smiles Fidelidade Argentina S.A., Capitânia Air Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior, Sorriso Fundo de Investimento em Cotas de Fundos de Investimento Multimercado Crédito Privado Investimento no Exterior, and Gol Equity Finance, collectively described as "one of Brazil’s largest domestic airlines by market share, one of the leading low-cost carriers in South America, and one of the largest low-cost carriers globally", filed at the U.S. Bankruptcy Court for the Southern District of New York.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Jordan Sleeth, of Deloitte Restructuring Inc., as the Foreign Representative of SimEx Inc., Iwerks Entertainment, Inc., and SimEx-Iwerks Myrtle Beach, LLC, which "operate a single, united business enterprise specializing in “4D” motion rides and cinematic attractions", filed at the U.S. Bankruptcy Court for the District of Delaware.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Aaron Gilbert, of BRON Media Corp., as the Foreign Representative of Front Runner Productions, Inc., Brown Amy, LLC, Fonzo Production Services, Inc., Fonzo, LLC, Front Runner, LLC, Green Moon Inc., Harmon Films, LLC, Harmon Monster Films, Inc., Needle In A Timestack, LLC, Para Productions, LLC, Red Sea LLC, Red Sea Productions Inc., Surrounded Productions USA Inc., Tully Productions LLC, TWWMD Holdings LLC, TWWMD Productions, Inc., Villains Pictures, LLC, Villains Production Services, Inc., and October Series Holdings, LLC, described as being part of a group that "develops, produces and sells motion pictures, series television, and digital media content, which includes animation and interactive gaming", filed at the U.S. Bankruptcy Court for the Northern District of Georgia.

Public Statement by the Isle of Man Financial Services Authority that it has revoked the license of Wilton (IOM) Limited for regulatory breaches.

Winding Up Petition in Zhongyang Construction Group Co Ltd., of China v. Oryx Biotech Holdings Inc., described as "an equity holding company which owns subsidiaries with various operations across South Asia" that are "primarily engaged in plasma based biopharmaceutical development", at the Grand Court of the Cayman Islands.

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Complaint in Chaucer Insurance Company DAC, of Ireland, and Chaucer Syndicates Ltd., of England, as managing agent for Lloyd's Syndicate 1084 v. Vesttoo Bay XXIV, Limited Partnership, of Israel; White Rock Insurance (SAC) Ltd. in respect of Segregated Account T108-Chaucer, described as "a segregated account formed pursuant to the Bermuda SAC Act", and Charles Thresh and Michael Morrison, as Joint Provisional Liquidators of White Rock Insurance (SAC) Ltd., of Bermuda, at the U.S. Bankruptcy Court for the District of Delaware.

Originating Application in The Federal Republic of Nigeria v. Process & Industrial Developments Limited at the British Virgin Islands High Court.

Chapter 11 Petition by blockchain firm Terraform Labs Pte. Ltd., of Singapore, at the U.S. Bankruptcy Court for the District of Delaware.

Winding Up Petition in Koa Capital LP, a Delaware entity based in New Jersey, USA, and 507 Summit LLC, a Delaware entity based in New York, USA v. Tianquan Mo, a.k.a. Vincent Mo, and Fang Holdings Limited, formerly Soufun Holdings Limited, described as a Cayman Islands company based in China, at the Grand Court of the Cayman Islands.

Fueled by the "disparate treatment" of domestic and foreign depositors by the Federal Deposit Insurance Corporation in the United States, the liquidators of the Cayman Islands Branch of Silicon Valley Bank have applied for Chapter 15 bankruptcy recognition in New York.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Michael Pearson, Andrew Childe, and Niall Ledwidge, as the Foreign Representatives of Silicon Valley Bank (Cayman Islands Branch) (in Official Liquidation), filed at the U.S. Bankruptcy Court for the Southern District of New York.

Greek financial broker Ardu Prime Investment Services S.A., which specialized in forex and crypto, has had its license revoked and been forced into "special liquidation" by the Hellenic Capital Market Commission.

Complaint "for enabling and failing to prevent the gross mismanagement of the Receivership Entities by certain former insiders of TCA Fund Management Group Corp." in Jonathan E. Perlman, as court-appointed Receiver for TCA Global Credit Fund, LP, TCA Global Credit Fund, Ltd., TCA Global Credit Master Fund, LP, and TCA Global Lending Corp. v. Grant Thornton Cayman Islands and Grant Thornton Ireland at the U.S. District Court for the Southern District of Florida.

Another Cayman Islands mutual fund - SCF Brazil, Cayman Feeder SPC - associated with the Miami-based, Brazil-focused Prudent Group has collapsed, this one operated by Swedish national Jon Malmsäter, who has a history of dubious investment schemes, indebtedness, tax problems, and even domestic violence.

Fixed Date Claim Form for the appointment of Receivers in Green Elite Limited (in Liquidation) v. Fang Ankong and HWH Holdings Limited at the British Virgin Islands High Court.