Liquidations & Insolvencies

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.

Public Notice by the Labuan Financial Services Authority that Luke Furler, of Quantuma, has been appointed as Interim Liquidator of City Credit Investment Bank Ltd.

Liquidation Petition regarding an alleged debt of $4 million and allegations of "suspicious or fraudulent activities" in Ayers Alliance Financial Group Limited, of Cyprus v. City Credit Asset Management Co. Ltd. at the Grand Court of the Cayman Islands.

Complaint to recover "preferential transfers" in FTX Trading Ltd., of Antigua and Barbuda; West Realm Shires Services Inc., of Delaware, and Alameda Research Ltd., of the British Virgin Islands v. Mirana Corp., of the Seychelles; Bybit Fintech Ltd., of the Seychelles; Time Research Ltd., of the Seychelles; Sin Wei 'Sean' Tan, of Singapore; Wei Lin 'Germaine' Tan, of Singapore; Weizheng Ye, of Singapore, and Nashon Loo Shun Liang, of Singapore, at the U.S. Bankruptcy Court for the District of Delaware.

Winding Up Petition in Yu Sheng Capital Company Limited, of Hong Kong v. Adamas Ping An Special Limited at the Grand Court of the Cayman Islands.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the British Virgin Islands by Anna Silver, as the Foreign Representative of Tristan Oil Ltd., described as a British Virgin Islands-domiciled "special purpose vehicle that is wholly owned by Anatolie Stati, a national and resident of the Republic of Moldova", filed at the U.S. Bankruptcy Court for the Southern District of New York.

Winding Up Petition in Yun Sheng Capital Company Limited, of Hong Kong v. Adamas Ping An Co-Management Limited at the Grand Court of the Cayman Islands.

Winding Up Petition in I-Tiger Global Investment Management Limited v. Airstream Investment Ltd., which "provides certain investment management services to Premier Life Settlement Fund SP, a Segregated Portfolio of Aquam Funds SPC" and "carries on business in the Cayman Islands, the People's Republic of China and the United States of America", at the Grand Court of the Cayman Islands.

Complaint in Citizens Bank N.A., as Administrative Agent v. Liberty Hall Capital Partners Fund I L.P., of the Cayman Islands, at the U.S. Bankruptcy Court for the District of Delaware.

Petition for the appointment of Receivers in Yu Jiang, of China v. Premier Life Settlement Fund SP, described as "a segregated portfolio of Aquam Funds SPC", at the Grand Court of the Cayman Islands.

Public Notice by the Labuan Financial Services Authority that "a creditor petition for the winding up of City Credit Investment Bank Limited, a Labuan investment bank, had been filed in the High Court of Sabah and Sarawak at the Federal Territory of Labuan".

Petition for Court Supervision of a Voluntary Liquidation in the matter of Coinful Capital Master Fund, SPC (in Voluntary Liquidation) at the Grand Court of the Cayman Islands.

Complaint alleging "a breach of contract action arising from Venezuela’s failure to make contractually mandated principal and interest payments on two series of bonds" in John Johnston and Edward Willmott, as Joint Provisional Liquidators on behalf of PDV Insurance Company Ltd., of Bermuda v. The Bolivarian Republic of Venezuela at the U.S. District Court for the Southern District of New York.

Complaint in Gemini Trust Company LLC, of New York, USA, operator of "a cryptocurrency platform that enables its users to buy, sell, and store cryptocurrencies" v. Genesis Global Capital LLC, of Delaware, USA; Genesis Global HoldCo LLC, of Delaware, USA, and Genesis Asia Pacific Pte. Ltd., of Singapore, at the U.S. Bankruptcy Court for the Southern District of New York.

Citing insolvency and the need for a "full investigation" into its activities, Cayman Islands judge David Doyle has granted a petition to wind up crypto/forex investment firm AuBit International, which is suspected of committing a $160 million fraud.

Decision Notice by the Cayman Islands Monetary Authority revoking the license of Trade and Commerce Bank - 21 years after the bank went into liquidation.

Complaint "for assisting, enabling, and/or 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 the 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. Bolder Fund Services (USA) LLC, formerly known as Circle Investment Support Services (USA), LLC, of Delaware; Bolder Fund Services (Cayman) Ltd., formerly known as Circle Investment Support Services (Cayman), Ltd., of the Cayman Islands, and Bolder Group Holding B.V., of the Netherlands, at the U.S. District Court for the Southern District of Florida.

Ex Tempore Judgment granting the plaintiffs' petition for a winding-up order in LedgerScore International Pte Ltd., of Singapore; LS Litigation Holdings LLC, of Wyoming, USA, and Earn Guild Pte Ltd., of Singapore, collectively described in the winding up petition as “retail investors who utilized an online cryptocurrency trading platform operated by the Company called “Freeway”, and who invested in Freeway’s Supercharger program” v. AuBit International at the Grand Court of the Cayman Islands.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Alexander Lawson and Christopher Kennedy, as the Foreign Representatives of Pioneer Merger Corp., described as "a special purpose acquisition vehicle" that was "formed by Jonathan Christodoro, Rick Gerson, Navroz Udawadia and Ryan Khoury", filed at the U.S. Bankruptcy Court for the Southern District of New York.

Petition for the Appointment of Restructuring Officers in the matter of HOLT Funds SPC, which "operates a business as an investment fund, regulated by the Cayman Islands Monetary Authority (CIMA), through four segregated portfolios"; HOLT Funds Income Segregated Portfolio 02, whose "principal investments ... comprise collateralised debt obligations, relating to mortgages issued in respect of US real estate", and HOLT Trophy CRE Segregated Portfolio 03, whose "assets ... comprise of a mixed-use real estate portfolio in Boca Raton, Florida", at the Grand Court of the Cayman Islands.

Complaint in Willen Jan M. van Andel and Eleonora L. Zetteler, in their capacity as insolvency practitioners in the insolvency of Nederlandsche Algemeene Maatschappij van Levensverzekering “CONSERVATRIX” N.V. v. Greg Evan Lindberg, of North Carolina, USA; Trier Holding B.V., of the Netherlands; Netherlands Insurance Holdings Inc., of Delaware, USA, and NIH Capital LLC, of Delaware, USA, at the U.S. District Court for the Middle District of North Carolina.

A depositor of the Cayman Islands branch of California-based Silicon Valley Bank is suing the Federal Deposit Insurance Corporation in the United States for allegedly illegally transferring its entire balance of $250,000 out of its account. Cayman-domiciled Knight League Limited alleges conversion, unjust enrichment, and breach of contract.

Originating Application in Waterfront Property Investment Limited v. Arius Litigation Funding LLC at the British Virgin Islands High Court.

Public Notice by the Luxembourg CSSF regarding the "Judicial liquidation" of Fortuna Banque s.c. and the "Activation of the Luxembourg Investor Compensation Scheme".

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Bermuda by Lawrence Hickey, as the Foreign Representative of Digicel International Finance Ltd., Digicel Intermediate Holdings Limited, and Digicel Limited, filed at the U.S. Bankruptcy Court for the Southern District of New York.

Petition to Recognize and Enforce Foreign Arbitral Award in Eurofinsa S.A. (in Liquidation), of Madrid, Spain v. The Gabonese Republic at the U.S. District Court for the District of Colymbia.

Amended Writ of Summons and Statement of Claim in Ascentra Holdings Inc. (in Official Liquidation), which "operated a cross-border e-commerce business selling beauty and health products and computer software to the Asian market through multi-level marketing" v. Ryunosuke Yoshida, of Hong Kong; Shang Peng Gao Ke Inc. SEZC, of the Cayman Islands; SPGK Pte Ltd., of Singapore; Growth Today Inc., of the Cayman Islands, and Scuderia Bianco Pte Ltd., of the Cayman Islands, at the Grand Court of the Cayman Islands.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England by Travis Brantley, as the Foreign Representative of CB&I UK Limited, of England; McDermott International Holdings B.V., of the Netherlands, and Lealand Finance Company B.V., of the Netherlands, which "provide engineering, procurement, and construction services under contracts with global customers, including national and integrated international energy companies as well as large-scale producers of petrochemical, electric, and liquefied natural gas facilities", filed at the U.S. Bankruptcy Court for the Southern District of Texas.

Chapter 11 Petition Petition by Anzen Soluciones S.A. de C.V., of Mexico, filed at the U.S. Bankruptcy Court for the District of Delaware.

Originating Application in Karen Jane Li v. Joesh Overseas Limited at the British Virgin Islands High Court.

Originating Application in FX Choice Ltd., Ilya Lysenak, LFR Present Ltd., Veles Management Corp., and Solum Capital Ltd. v. Long Mountain Services Inc. at the British Virgin Islands High Court.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Martin P. Rosenthal, of Ernst & Young, as the Foreign Representative of Ideal Protein of America Inc., 9327-6269 Quebec Inc., Laboratoires C.O.P. Inc., and Pharmalab Inc., described as "providers of a comprehensive weight loss protocol and associated nutritional products and partner with over 1,600 clinics throughout the United States and Canada", filed at the U.S. Bankruptcy Court for the Southern District of Florida.

Winding Up Petition in FGL Holdings v FGL Holdings v. Kingstown Partners Master Ltd. at the Grand Court of the Cayman Islands.

Winding Up Petition in CTS Hermitage Healthcare Fund LP v. China Medonline Inc. at the Grand Court of the Cayman Islands.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by NextPoint Financial Inc., as the Foreign Representative of LM BP Holdings LLC, described as "a member of the 'LoanMe group of companies'", filed at the U.S. Bankruptcy Court for the District of Delaware.

Originating Application in Citicc International Investment Limited, of Hong Kong v. Dauphin Holdings Group Limited, whose "business comprises the investment and development of real estate projects in the People’s Republic of China and the United Kingdom", at the British Virgin Islands High Court.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Alexander Lawson and Christopher Kennedy, of Alvarez & Marsal, as the Foreign Representatives of VPC Impact Acquisition Holdings II, 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 Scotland by James B. Stephen, of BDO, in Glasgow, Scotland, as the Foreign Representative of Jason Hector Blain, a former executive with the British Broadcasting Corporation (BBC), filed at the U.S. Bankruptcy Court for the Northern District of Texas.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Poland by Chris Thunander, as the Foreign Representative of HoloSurgical Technology Polska Sp. z.o.o., which "was founded to develop surgical navigation applications for spinal surgery that included AR and AI technologies", filed at the U.S. Bankruptcy Court for the Southern District of Texas.

Application by Refinería de Cartagena S.A.S., of Colombia, to take discovery from McDermott International Ltd., described as "a global engineering and construction company", for use "in restructuring proceedings recently commenced in the Netherlands and England by two of McDermott’s principal subsidiaries", filed at the U.S. District Court for the Southern District of Texas.

Complaint in FTX Trading Ltd., of Antigua and Barbuda, and West Realm Shires Services Inc., of Delaware v. Michael Burgess, Huy Xuan 'Kevin' Nguyen, Jing Yu 'Darren' Wong, Matthew Burgess, Lesley Burgess, described as "former employees of Salameda Ltd."; 3Twelve Ventures Ltd., of the British Virgin Islands, and BDK Consulting Ltd., of Hong Kong, at the U.S. District Court for the District of Delaware

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Neil Bunker, of PricewaterhouseCoopers, in Vancouver, Canada, as the Foreign Representative of My Mortgage Auction Corp., d.b.a. Shop Your Own Mortgage, described as a mortgage broker that is being investigated for suspected fraud, and Gregory Joseph Martel, described as a resident of both British Columbia and Ontario in Canada, filed at the U.S. Bankruptcy Court for the Central District of California.

Complaint in Irving Picard, as Trustee for the Substantively Consolidated SIPA Liquidation of Bernard L. Madoff Investment Securities LLC and the Chapter 7 Estate of Bernard L. Madoff v. Russell Oasis, 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 Gao Xi, as the Foreign Representative of Sunac China Holdings Limited, described as a Cayman Islands-domiciled, Hong Kong-based "ultimate holding company of a group of companies ... which is principally engaged in the property development and property investment business in the People’s Republic of China", filed at the U.S. Bankruptcy Court for the Southern District of New York.

Complaint "to recover millions of dollars in fraudulently transferred and misappropriated funds from the parents of FTX Founder Samuel Bankman-Fried" in Alameda Research LLC, a Delaware, USA-domiciled company "that had operations in the United States, Hong Kong, and The Bahamas"; Alameda Research Ltd., of the British Virgin Islands; FTX Trading Ltd., of Antigua and Barbuda; West Realm Shires Inc., of Delaware, USA, and West Realm Shires Services Inc., d.b.a. FTX.US, of Delaware, USA v. Allan Joseph Bankman, described as "a tenured Stanford Law School professor with decades of experience in tax law", and Barbara Fried, described as "a Stanford Law School professor who willingly enmeshed herself in the FTX Insiders' world", at the U.S. District Court for the District of Delaware.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Sarah Eskandan, as the Foreign Representative of BioSteel Sports Nutrition Inc., described as "one of three affiliated entities comprising BioSteel, a sports nutrition and hydration company, focused on high quality ingredients and with a presence in professional sports markets", filed at the U.S. Bankruptcy Court for the Southern District of Texas.

Originating Application for the appointment of liquidators regarding an alleged debt of HK$3.3 billion in Industrial and Commercial Bank of China (Macau) Limited, of Macau v. Rich Region Holdings Limited at the British Virgin Islands High Court.