Liquidations & Insolvencies

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the British Virgin Islands by James Drury and Paul Pretlove, as the Foreign Representatives of Hector DAO, described as "a group of crypto asset holders using the Hector Network, a set of smart contracts deployed on the Fantom blockchain that were programmed to facilitate financial transactions with crypto assets", filed at the U.S. Bankruptcy Court for the District of New Jersey.

Writ of Summons and Statement of Claim in Simon Conway, Anthony Manton, and Mohammed Farzadi, as Joint Official Liquidators of Abraaj Holdings (in Official Liquidation) and Abraaj Holdings (in Official Liquidation) v. Air Arabia PJSC, of United Arab Emirates, at the Grand Court of the Cayman Islands.

Liquidation Application in Nebula (Cayman) Limited, of the Cayman Islands v. Daoyi Holding Limited at the British Virgin Islands High Court.

Press Release by the Swiss Financial Market Supervisory Authority that it has initiated bankruptcy proceedings against FlowBank SA "as the bank no longer has the minimum capital required for its business operations".

Originating Application in G Response Aid FZCO, of Dubai, United Arab Emirates v. Cellvera Limited at the British Virgin Islands High Court.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Brazil by Fabio Rohr, as the Foreign Representative of SouthRock Capital Ltda., Americana Franquia S.A., Brazil Airport Restaurantes S.A., HB Participacoes S.A., SRC 5 Participacoes Ltda., SRC 6 Participacoes Ltda., SRC Holding Participacoes S.A., SR N Participacoes S.A., Star Participacoes S.A., Starbucks Brasil Comercio de Cafes Ltda., SW do Brasil Ltda., formerly Subway do Brasil Ltda.; SW Stores do Brasil Ltda., formerly Subway Stores, and Wahalla Ltda., described as being part of "a large Brazilian food and beverage" group, filed at the U.S. Bankruptcy Court for the Southern District of Texas.

Originating Application in Angela Barkhouse, Colin Wilson, and Carl Jackson, as Joint Liquidators v. Muraset Limited (in Liquidation), Affinity Equity International Partners Limited (in Liquidation), Pacific Rim Global Growth Limited (in Liquidation), Selune Limited (in Liquidation), Blackstone Asia Real Estate Partners Limited (in Liquidation), 1MDB Energy Holdings Limited (in Liquidation), Tanore Finance Corp. (in Liquidation), Aabar Investments PJS Limited (in Liquidation), SRC International (Malaysia) Limited (in Liquidation), SRC Strategic Resources Limited (in Liquidation), Bright Oriande Limited (in Liquidation), Brazen Sky Limited (in Liquidation), Aabar International Investments Limited (in Liquidation), Blackrock Commodities (Global) Limited (in Liquidation), Alsen Chance Holdings Limited (in Liquidation), Platinum Global Luxury Services Limited (in Liquidation), Brightstone Jewellery Limited (in Liquidation), and Abu Dhabi-Kuwait-Malaysia Investment Corporation (in Liquidation) at the British Virgin Islands High Court.

Petition for Court Supervision of a Voluntary Liquidation in the matter of Trimeta Capital Ltd. (in Voluntary Liquidation) at the Grand Court of the Cayman Islands.

Originating Application in China Development Bank Hong Kong Branch v. Energy Empire Investments Limited at the British Virgin Islands High Court.

Originating Application in Chad Christopher Holm v. Sancus Financial Holdings Limited at the British Virgin Islands High Court.

Winding Up Petition in the matter of Sigma Finance Corporation, described as "a structured investment vehicle, which was incorporated as a special purpose vehicle whose principal function was to invest in certain types of asset-backed securities and other financial products", at the Grand Court of the Cayman Islands.

Originating Application for the appointment of liquidators in the matter of RoYue Limited at the British Virgin Islands High Court.

Motions to Intervene and Vacate a Default Judgment by Samuel Cole and Mitchell Mansfield, of Kroll, as the Joint Official Liquidators of Cayman Investment Funds Master SPC (in Official Liquidation) and Cayman Investment Funds SPC (in Official Liquidation), both of the Cayman Islands, in Alliance Metals LLC and C T Corporation System at the Circuit Court of the Eleventh Judicial Circuit, in and for Miami-Dade County, Florida, USA.

Chapter 11 Petition by Takeoff International Inc., Takeoff Technologies Canada, Inc., of Canada; Takeoff Technologies Australia Pty Ltd., of Australia; Takeoff Technologies FZE, of the United Arab Emirates; Takeoff International Subco India Private Limited, of India, and Takeoff International Subco, LLC, which "operate one of the leading eGrocery, micro-fulfillment solution companies in the world", at the U.S. Bankruptcy Court for the District of Delaware.

Winding Up Petition in Global Fidelity Bank Ltd. v. Natural Capital Ltd. at the Grand Court of the Cayman Islands.

Originating Application for approval of $126,289 in liquidators' fees by Barry Lunch and Helen Janes, as Joint Liquidators of Invictus Alpha Limited (in Liquidation), at the British Virgin Islands High Court.

The collapse of an investment group headed by Miami-based Swedish national Dennis Klemming has continued with the liquidations of two more Cayman Islands entities, International Capital Allocation Ltd. and International Portfolio Allocation Ltd., which each had an agreement to borrow up to $100 million from another failed Cayman entity, SPI Investment Fund.

Petition for Court Supervision of a Voluntary Liquidation in the matter of PepperLime Health Acquisition Corporation (in Voluntary Liquidation) at the Grand Court of the Cayman Islands.

Chapter 11 Petition by Credivalores-Crediservicios S.A., of Colombia, which "was formed in 2003 for the primary purpose of providing payroll deduction loans", 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 International Capital Allocation Ltd. (in Voluntary Liquidation) at the Grand Court of the Cayman Islands.

Petition for Court Supervision of a Voluntary Liquidation in the matter of International Portfolio Allocation Ltd. (in Voluntary Liquidation) at the Grand Court of the Cayman Islands.

Petition for the appointment of Receivers in Fenghua Multi-Strategies Fund SPC v. OCI Fenghua Selected Fixed Income SP2 and OCI Fenghua Special Opportunities Equity Investment SP4 at the Grand Court of the Cayman Islands.

fixed Date Claim Form in the matter of Hong Seng Limited, described as "a leading property developer in Jiangsu Province of the PRC, focusing on the development of residential properties and the development, operation, and management of commercial and integrated properties", at the British Virgin Islands High Court.

Fixed Date Claim Form in Nathan Mills, Osman Arab, and Lai Lun, as Joint Liquidators of Super Perfect Limited v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.

Claim Form in Global Steel Holdings Limited (in Liquidation), of the Isle of Man, described as "a corporate structure ... under the control of Mr Pramod Mittal" v. Direct Investments Limited (in Receivership) at the British Virgin Islands High Court.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Singapore by Chen Li shan, as the Foreign Representative of Deelish Brands Pte. Ltd., which "was in the business of managing cafés", filed at the U.S. Bankruptcy Court for the Central District of California.

Public Notice by the Malta Financial Services Authority that it has cancelled the licenses of investment funds TTC SICAV Plc and TTC Green Energy Fund for regulatory breaches.

Originating Application for approval of $534,662 in liquidators' fees by Matthew Richardson and John Royle, as Joint Liquidators of Ganiol Finance Ltd. (in Liquidation) and Ganiol Finance Limited (in Liquidation), and Ganiol Finance Limited (in Liquidation) at the British Virgin Islands High Court.

Winding Up Petition in BlueFlame Digital Capital Management, formerly Stonegate Digital Asset Capital Management, LLC, of Atlanta, Georgia, USA v. ODIN88 GP Ltd., acting in its capacity as General Partner of the ODIN88 Crypto Master Fund (Cayman) LP, at the Grand Court of the Cayman Islands.

Company Details for Fiduciam Corporate Ltd., obtained from the Mauritius Registrar of Companies on May 6th, 2024.

Originating Application that "The appointment of the Applicants as Trustees in respect of the assets of a bankrupt known as Qu Haiping (the Bankrupt), be recognized in aid of the bankruptcy proceedings commenced in the High Court of Hong Kong" in Pan Lu Yang and Daniel Wai Shing Chow v. Window of Trade International Limited and Trident Trust (BVI) Limited at the British Virgin Islands High Court.

Judgment regarding "Interlocutory appeal – Appeal against order appointing joint provisional liquidators – Standing – Whether Mr. Wang had standing to apply for the appointment of joint provisional liquidators over RAGOF – Bare trusts – Whether XYZ held the XYZ shares on a bare trust for Mr. Wang – Derivative claims – Whether there were special circumstances entitling Mr. Wang to seek the appointment of joint provisional liquidators over RAGOF on a derivative basis – Abuse of court – Subsequent interlocutory proceedings – Whether a subsequent interlocutory application involving the same parties and same issues runs afoul of the abuse of court principles – Whether the dismissal of Ladd v Marshall applications precludes an applicant from introducing that same evidence in the subsequent interlocutory application - The rule in Hollington v Hewthorn – Whether the rule in Hollington v Hewthorn applies to the reliance on decisions of another court in interlocutory applications" in Floreat Real Estate Limited, described as "a professional fund incorporated in Jersey" v. XYZ, described as "a company registered in England"; Chia Hsing Wang, and Real Assets (RA) Global Opportunity Fund I Ltd., described as a British Virgin Islands entity whose assets include "real property in England known as 'Springs Farm'", at the British Virgin Islands Court of Appeal.

Report by Lule Furler, as the Interim Liquidator of City Credit Investment Bank Limited, of Labuan, for the period from October 16th, 2023 to April 15th, 2024.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Richard Williams, of Deloitte Restructuring Inc., as the Foreign Representative of Antamex Industries ULC, described as being "in the business of designing, engineering, manufacturing, and installing custom, modular glass façade solutions for multi-story buildings", filed at the U.S. Bankruptcy Court for the District of Canada.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Peter Chisholm, of Ernst & Young, as the Foreign Representative of Hunterwood Technologies USA Ltd., whose "principal business was the design and manufacture of agricultural machines that compress baled and loose hay into mid-to-high density bales", filed at the U.S. Bankruptcy Court for the Eastern District of Washington.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Jan Sahai, as the Foreign Representatives of Contract Pharmaceuticals Limited, CPL Canada Holdco Limited, Contract Pharmaceutials Limited Canada, Glasshouse Pharmaceuticals Limited Canada, and Glasshouse Pharmaceuticals LLC, described as being part of a group that "specializes in the development, manufacturing, packaging, filing and testing of non-sterile liquid and semi-solid pharmaceutical and regulated over-the-counter products, and also provides laboratory services that include materials, product release and stability testing as well as product development services", filed at the U.S. Bankruptcy Court for the District of Delaware.

Portuguese whistleblower Rui Pinto, whose work triggered tax fraud investigations against Lionel Messi and Cristiano Ronaldo and 115 financial fair play charges against Manchester City, will speak at OffshoreAlert's inaugural conference in Marbella, Spain, on June 19-21.

Originating Summons in Chance Talent Management Limited v. Haiyin Capital Investment (International) Limited and Haiyin Business Equity Investment Fund L.P. at the Grand Court of the Cayman Islands.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Gerrie Kotze, as the Foreign Representative of Teal Jones Holdings Ltd., Columbia River Shake & Shingle, Teal-Jones Aviation GP Ltd., Teal Cedar Products Ltd., Teal-Jones Aviation Limited Partnership, Teal-Jones Group, Pine Products, LLC, Teal Jones Holdings USA Inc., Teal Jones Dry Kilns, LLC, Teal Jones Lumber Sales, LLC, Potomac Supply, LLC, Teal Jones Lumber, LLC, Greentree Lumber Company, LLC, Teal Jones Lumber Services Inc., and Teal Jones Louisiana Holdings LLC, filed at the U.S. Bankruptcy Court for the District of Delaware.

Writ of Summons in Canterbury Securities Ltd. (in Official Liquidation), Karen Scott and Russell Homer, as Joint Official Liquidators of Canterbury Securities Ltd. v. Erin Winczura, PFS Ltd., and Canterbury Group at the Grand Court of the Cayman Islands.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Antoine Adams, as the Foreign Representative of Ted Baker Canada Inc., OSL Fashion Services, Inc., OSL Fashion Services Canada, and Ted Baker Limited, 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 England by F. G. Savage and John Walters, of Begbies Traynor, as the Foreign Representatives of Miomni Sports Ltd., filed at the U.S. Bankruptcy Court for the District of Nevada.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Israel by Abigail Jenkins, as the Foreign Representative of Gamida Cell Ltd., described as "a biotech company working to turn cells into powerful therapeutics that have the potential to improve outcomes for patients with blood cancers", filed at the U.S. Bankruptcy Court for the District of Delaware.

Application by Mark Longbottom and Michael Lam, as Joint Official Liquidators of LM Fund One Ltd. (in Official Liquidation), of the Cayman Islands, to take discovery from East West Bank "to potentially unveil fraudulent transfers and recover assets to be distributed to third-party creditors" in legal proceedings in the Cayman Islands, filed at the U.S. District Court for the Southern District of California.

Public Warning by the Swiss Financial Market Supervisory Authority that Atlas Administration AG (in Liquidation) “is suspected of conducting unauthorised activities in the financial market”.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England by Mark Riley, as the Foreign Representative of Alicia Schmidt Tucker, filed at the U.S., Bankruptcy Court for the Northern District of Oklahoma.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Randall Benson, as the Foreign Representative of Old National Highway Holding Corp., High Prairie Texas Holding Corp., PGED Holding, Corp., Terminal Road Holding, Corp., Highway 46 McFarland Holding Corp., Ternes Drive Holding Corp., Loop 820 Forth Worth Holding Corp., Valley Boulevard Fontana Holding Corp., Di Miller Drive Bakersfield Holding Corp., Manheim Road Holding Corp., East Brundage Lane Bakersfield Holding Corp., Oakmont Drive IN Holding Corp., Eastgate Missouri Holding Corp., French Camp Holding Corp., 102098416 Saskatchewan Ltd., Frontage Road Holding Corp., Alexis Investments, LLC, 2837229 Ontario Inc., Bishop Road Holding Corp., 2863283 Ontario Inc., 12944154 Canada Inc., Corrington Missouri Holding Corp., Crescentville Road Cincinnati Holding Corp., 13184633 Canada Inc., 13761983 Canada Inc., 11670 Interstate Holding, Corp., 933 Helena Holdings Inc., 30530 Matsqui Abbotsford Holding Inc., 963 Sweetwater Holding Corp., 2029909 Ontario Inc., 1450 Meyerside Holding Inc., 2076401 Ontario Inc., 2108184 Alberta Ltd., 87th Avenue Medley FL Holding Corp., 131 Industrial Blvd Holding Corp., 162 Route Road Troy Holding Corp., 177A Street Surrey Holding Inc., 401 South Meridian OKC Holding Corp., 3000 Pitfield Holding Inc., 8201 Hwy 66 Tulsa Holding Corp., 13th Street Pompano Beach FL Holding Corp., 52 Street Edmonton Holding Corp., 59th Ave Phoenix Holding Corp., 68th Street Saskatoon Holding Corp., and 84 St SE Calgary Holdings Inc., filed at the U.S. Bankruptcy Court for the District of Delaware.

Joint Official Liquidators' First Report to Creditors of SCF Brazil, Cayman Feeder SPC (in Official Liquidation).

Fixed Date Claim Form regarding Shatilla Holdings Ltd. in Roderick Michael Haydn Wood, of Barbados v The Registrar of Corporate Affairs at the British Virgin Islands High Court.