Liquidations & Insolvencies

Letter to investors in SCF Brazil, Cayman Feeder SPC from directors Jon Malmsäter and Paulo César de Melo Ladeira, Jr. announcing that the Fund is going into voluntary liquidation.

Winding Up Petition in the matter of Rose Hill Acquisition Corporation at the Grand Court of the Cayman Islands.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by William Tucker, as the Foreign Representative of Nexii Building Solutions Inc., Nexii Construction Inc., NBS IP Inc., and Nexii Holdings Inc., collectively described as "a green construction company that uses its proprietary material, Nexiite, to manufacture high performance cladding and structural wall panels which are used in the construction of high-performance buildings", filed at the U.S. Bankruptcy Court for the District of Delaware.

Originating Application in Haitong International Securities Company Limited v. Elegant Kindness Limited at the British Virgin Islands High Court.

Winding Up Petition in BPCR Limited Partnership, acting by its general partner BPCR GP Limited, of London, England, and BioPharma Credit Investments V (Master) LP, acting by its general partner BioPharma Credit Investments V GP LLC, of the Cayman Islands v. LumiraDX Limited, whose shares are listed on NASDAQ and whose directors were identified as "Donald Berwick, Professor Sir Bruce Keogh, Lurene Joseph, Troyen Brennan and George Neble", at the Grand Court of the Cayman Islands.

First Amended Complaint in Brendon James Gibson and Natalie Gytha Burrett, both citizens of New Zealand, as Interim Liquidators of Wikeley Family Trustee Limited, and Wikeley Family Trustee Limited, of New Zealand v. Wikeley Inc. at the U.S. District Court for the Eastern District of Kentucky.

A British company owned by 2018 PDC World Darts Champion Rob Cross, who is currently in the semi-finals of this year's ongoing tournament, has gone into liquidation with an estimated deficiency of £579,807, most of which is owed in taxes. Cross is the firm's biggest debtor, owing £423,608 that was loaned to him.

Complaint in Luc Despins, as Chapter 11 Trustee for Ho Wan Kwok and Genever Holdings LLC v. Ace Decade Holdings Ltd., of the British Virgin Islands; Yanping Wang, a.k.a. Yvette Wang, and Rui Hao at the U.S. Bankruptcy Court for the District of Connecticut.

Public Notice by the Liechtenstein Financial Market Authority that "the banking services of Mason Privatbank Liechtenstein AG in Liquidation have been closed".

Public Notice by the Guernsey Financial Services Commission that GBG Insurance Limited has gone into administration, nine months after its directors informed the FSC that "they had discovered that assets shown in the accounts representing many millions of pounds did not actually exist".

Chapter 11 Petition by Rudolph W. Giuliani, a.k.a. Rudy Giuliani, at the U.S. Bankruptcy Court for the Southern District of New York.

Another Cayman Islands mutual fund - SPI Investment Fund SPC - affiliated with Miami Beach-based Swedish national Dennis Klemming's Prudent Group has gone into liquidation - 21 months after its independent directors were removed after uncovering evidence of fraud.

Winding Up Petition in Pacento 2 Limited, of Malta v. PCH International Holdings, described as "an investment holding company that is engaged in the business of product design engineering and development services as well as manufacturing and distribution services primarily in Asia, Europe and North America", at the Grand Court of the Cayman Islands.

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

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

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Michael Green, Michael Penner, and Matthew Becker, as the Foreign Representatives of ECM Straits Fund I, LP (in Official Liquidation), ECM Straits Fund UGP I, Ltd. (in Official Liquidation, and TransAsia E-Commerce Inc. (in Official Liquidation), 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 Hong Kong by Chen Zhi Bin and David Wan, as the Foreign Representatives of China Aoyuan Group Limited and Add Hero Holdings Limited, described as "part of the Aoyuan Group, which is a leading property developer in China that has been developing residential projects for over two decades", filed at the U.S. Bankruptcy Court for the Southern District of New York.

Petition for the Court's sanction of a Scheme of Arrangement in the matter of Yestar Healthcare Holdings Company Limited, described as "the ultimate holding company of certain directly or indirectly owned subsidiaries (together with the Company, the Yestar Group), located across various jurisdictions including the Cayman Islands, British Virgin Islands (BVI), Hong Kong and the People's Republic of China", at the Grand Court of the Cayman Islands.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Alain Duval, as the Foreign Representative of Duvaltex Inc., Les Lainages Victor Ltee, Armfoam Inc., Duval Acquisition Inc., Duvaltex (Canada) Inc., Duvaltex (America), Inc., and Duvaltex (US), Inc., part of a group that "specializes in the design and production of woolen fabrics, which it used to manufacture woolen blankets that were sold to various customers, including the Canadian army", filed at the U.S. Bankruptcy Court for the District of Delaware.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Brazil by Eliza Fazan, of Expertisemais Perícias e Administração Judicial, as the Foreign Representative of Gam Empreendimentos e Participações Ltda. and Florida Paulista Açúcar e Etanol S.A., filed at the U.S. Bankruptcy Court for the Southern District of Florida.

Winding Up Petition alleging "a serious and demonstrable lack of probity in the conduct of the Fund's affairs" in TGT GP, as General Partner of TGT LP, which are "part of the wider Unifi group of companies" that operates "a digital wealth platform that allows individuals to lend their cryptocurrency assets to Yield App for a fixed interest rate" v. TYR Capital Partners SPC Ltd. at the Grand Court of the Cayman Islands.

Two Cayman Islands investment funds operated by Miami Beach-based Swedish citizen Dennis Klemming - Cayman Investment Funds Master SPC and Cayman Investment Funds SPC - have gone into liquidation after being unable to satisfy investors' redemption requests totaling nearly $50 million.

Petition for Court Supervision of a Voluntary Liquidation in the matter of Amida Group Holdings (in Voluntary Liquidation), which "is legally and beneficially owned by Chia Hsing Wang (Bruno), a Taiwanese national", at the Grand Court of the Cayman Islands.

Petition for Court Supervision of a Voluntary Liquidation in the matter of Blue Water Limited (in Voluntary Liquidation), which "is beneficially owned by Wang Chia Hsing (Bruno), a Taiwanese national", at the Grand Court of the Cayman Islands.

Chapter 11 Petition by Near Intelligence Inc., of California, USA; Near Intelligence LLC, of California, USA; Near Intelligence Pte. Ltd., of Singapore, and Near North America, Inc., of California, USA, collectively described as "a full stack, data intelligence software provider of enriched data on people and places", at the U.S. Bankruptcy Court for the District of Delaware.

Chapter 11 Petition by Mercon Coffee Corporation, of Coral Gables, Florida, USA; Cisa Export S.A., of the British Virgin Islands; Mercon B.V., of the Netherlands; Mercon Brasil Comercio de Cafe Ltda., of Brazil; Agro International Holding B.V., of Curaçao; Mercapital de Nicaragua, S.A., of Nicaragua; Distribuidora de Granos de Nicaragua, Sociedad Anonima, of Nicaragua; Comercial Internacional de Granos de Honduras, S.A., of Honduras; Mercon Guatemala, S.A., of Guatemala; Mercafe Vietnam Ltd., of the British Virgin Islands, and Comercial Internacional Exportadora, S.A., of Nicaragua, all part of the "Mercon Coffee Group", which was described as "a global, green coffee supplier with the purpose of building a better coffee world", at the U.S. Bankruptcy Court for the Southern District of New York.

Winding Up Petition in Fortunate Drift Limited, of the British Virgin Islands v. Canterbury Securities Ltd., of the Cayman Islands, at the Grand Court of the Cayman Islands.

Petition for the appointment of Receivers in Bo Run SPC v. China Real Estate Stable Income Fund SP20 at the Grand Court of the Cayman Islands.

Petition for the appointment of Receivers in Bo Run SPC v. China Real Estate Stable Income Fund SP19 at the Grand Court of the Cayman Islands.

Petition for the appointment of Receivers in Bo Run SPC v. China Real Estate Stable Income Fund SP16 at the Grand Court of the Cayman Islands.

Petition for the appointment of Receivers in Bo Run SPC v. China Real Estate Stable Income Fund SP12 at the Grand Court of the Cayman Islands.

Petition for the appointment of Receivers in Bo Run SPC v. China Real Estate Stable Income Fund SP11 at the Grand Court of the Cayman Islands.

Petition for the appointment of Receivers in Bo Run SPC v. China Fixed Income Stable Return Fund SP10 at the Grand Court of the Cayman Islands.

Petition for the appointment of Receivers in Bo Run SPC v. China Real Estate Stable Income Fund SP8 at the Grand Court of the Cayman Islands.

Petition for the appointment of Receivers in Bo Run SPC v. China Real Estate Stable Income Fund SP4 at the Grand Court of the Cayman Islands.

Petition for the appointment of Receivers in Bo Run SPC v. China Enhanced Income Fund SP2 at the Grand Court of the Cayman Islands.

Winding Up Petition in Mourant Ozannes (Cayman) LLP v. Frontera Resources Corporation at the Grand Court of the Cayman Islands.

Chapter 11 Petition by Inversiones Latin America Power Ltda., San Juan S.A., and Norvind S.A., all part of "a clean energy" group "headquartered in Santiago, Chile", 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 Brazil by Oreste Nestor de Souza Laspro, of Laspro Consultores Ltda., as the Foreign Representative of BWA Brasil Tecnologia Digital Ltda., filed at the U.S. Bankruptcy Court for the Southern District of Florida.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England by Nicholas Nicholson, Prashan Patel, and Kevin Hellard, all of Grant Thornton, as the Foreign Representatives of Isak Henry Gabay, described as a citizen of Switzerland and co-founder of Hong Kong-domiciled, England-based Duet Group Ltd. - a "global investment holding company" that managed "over $4.4 billion of equity" - who has been criminally charged in Germany with tax-related offenses regarding "Duet Group’s involvement in “Cum-Ex” transactions", filed at the U.S. Bankruptcy Court for the Southern District of New York.

Appointment of Voluntary Liquidators and Statement of Affairs showing an estimated total deficiency of £579,807 by Rob Cross Darts Limited, whose principal is 2018 PDC World Darts Champion Rob Cross, of England, filed with Companies House for England and Wales.

Notice of Thomas Braziel's Exceptions to Special Master's Final Report and Recommendation, including that "Braziel takes exception to the Report to the extent it draws conclusions or makes references, express or implied, regarding Braziel’s actual or potential criminal liability", in B.E. Capital Management Fund L.P. v. Fund.com Inc. at the Court of Chancery of the State of Delaware.

Complaint in Celsius Mining LLC, described as a Delaware "cryptocurrency mining" firm v. Mawson Infrastructure Group Inc., described as a Delaware-domiciled "publicly traded digital infrastructure provider"; Luna Squares LLC, which "develops and operates hosting facilities designed for digital asset mining", and Cosmos Infrastructure LLC, which "owns and operates digital asset mining equipment and infrastructure", at the U.S. Bankruptcy Court for the Southern District of New York.

Complaint "to avoid and recover over half a billion dollars in preferential transfers that flowed to Defendants, at their demand, in the months immediately preceding Plaintiff’s commencement of Chapter 11 Proceedings" in Genesis Global Capital LLC, described as a Delaware company "that provides lending and borrowing services for digital assets and fiat currency primarily to and from institutional and high net worth individual customers" v. Gemini Trust Company LLC, individually and on behalf of Earn Users, described as a New York "trust company" that "operates a cryptocurrency platform that enables its users to buy, sell, and store cryptocurrencies", at the U.S. Bankruptcy Court for the Southern District of New York.

Public Warning by the Swiss Financial Market Supervisory Authority that Visamar Group GmbH (in Liquidation) is "suspected of conducting unauthorised activities in the financial market".

Petition for Court Supervision of a Voluntary Liquidation in the matter of Cayman Investment Funds SPC (in Voluntary Liquidation) at the Grand Court of the Cayman Islands.

Petition for Court Supervision of a Voluntary Liquidation in the matter of Cayman Investment Funds Master SPC (in Voluntary Liquidation) at the Grand Court of the Cayman Islands.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Sarah Eskandari, as the Foreign Representative of BioSteel Sports Nutrition Inc., BioSteel Manufacturing LLC, and BioSteel Sports Nutrition USA LLC, filed at the U.S. Bankruptcy Court for the Southern District of Texas.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Germany by Adrian Frankum, as the Foreign Representative of Spark Networks SE, Spark Networks Inc., and Zoosk Inc., described as being part of a group that is "a leader in social dating platforms focusing on the 40+ age demographic and faith-based affiliations", filed at the U.S. Bankruptcy Court for the District of Delaware.

Recall Petition in Maples Liquidation Services Limited v. NanoCred Cayman Co. Ltd. (in Voluntary Liquidation) at the Grand Court of the Cayman Islands.