{"id":"court_ctb_175_0","court":"CTB","case_no":"22-50073","doc_number":175,"sub_number":0,"doc_type":"UNKNOWN","filed_date":null,"title":"UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION | In re:       |         | : |","summary_zh":null,"summary_en":null,"body_en":"# **UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION**\n\n| In re:       |         | : |\n|--------------|---------|---|\n| HO WAN KWOK, |         |   |\n|              |         | : |\n|              | Debtor. | : |\n|              |         |   |\n\n: CHAPTER 11\n\n: Case No. 22-50073(JAM)\n\n: April 6, 2022\n\n## **OBJECTION OF CREDITORS RUI MA AND WEICAN MENG TO THE DEBTOR'S PROPOSED RETENTION OF VERDOLINO & LOWEY, P.C. AS FINANCIAL ADVISOR**\n\nCreditors Rui Ma and Weican Meng (\"**Creditors**\"), by and through their undersigned counsel, hereby submit this objection to the Debtor's application to retain and employ Verdolino & Lowey, P.C. (\"**V&L**\") as financial advisor (the \"**FA Motion**\") [ECF 90], and respectfully state as follows:\n\n### **PRELIMINARY STATEMENT**\n\n1. The FA Motion fails to justify engaging any financial advisor for the Debtor in this case. Simply, the circumstances of this case do not warrant it. While the FA Motion sets forth the standard laundry list of services that financial advisors generally provide to chapter 11 corporate debtors, no explanation is offered why such services are necessary in this case or how they would benefit the estate. This case involves an individual that claims to have no assets, no income and to not operate any business. The Debtor should be required to be judicious in incurring administrative expenses. To the extent some services are needed, the need for such services should be explained and a budget should be presented and approved by the Court. Accordingly, the FA Motion should be denied.\n\n### **CREDITORS' OBJECTION**\n\n2. By the FA Motion, the Debtor seeks to engage V&L to perform services that financial advisors typically provide to chapter 11 corporate debtors. The services to be rendered by V&L pursuant to the FA Motion are described as financial advisory, consulting, accounting services, tax and other related services that include the following:\n\n- (a) Assistance with preparation of the Statement of Financial Affairs and the Schedules, and all support thereto and any amendments, if necessary;\n- (b) Assistance with preparation and/or review of cash flow and related budget projections and including advising as to post-filing finances;\n- (c) Opening and maintaining the DIP account, and effectuating disbursements when necessary and providing accounting of all cash activity;\n- (d) Preparation, review, and analysis of Monthly Operating Reports and/or Quarterly Reporting;\n- (e) Assistance with preparation and/or review of estate federal and state income tax filings;\n- (f) Assistance with reviewing, reconciling, analyzing and, if necessary, objecting to proofs of claim;\n- (g) Assistance with reviewing Debtor books and records for possible avoidable transactions such as preference and fraudulent transfer claims;\n- (h) Assistance with any necessary litigation support;\n- (i) Assistance with plan development and preparation, including feasibility; and\n- (j) General consulting and assistance with any other matters and tasks that may arise, and as may be directed by you or the Debtor.\n\n[ECF 90 at pp. 3-4].\n\n3. The Creditors acknowledge that V&L has the expertise to provide these services.<sup>1</sup>\n\nThe Creditors' objection concerns the fact that this case involves potentially limited funds, a self-\n\nprofessed non-income producing individual Debtor with purportedly no business to manage and\n\n<sup>1</sup> The Creditors note, however, that the Jalbert Affidavit, attached as Exhibit C to the FA Motion, identifies various prior and existing relationships between V&L and certain key law firms involved in this case, including disclosing that Brown Rudnick currently is V&L's counsel in certain other cases. [ECF 90 at pp. 19-21]. These relationships call into question V&L's disinterestedness.\n\nminimal assets, and therefore this case does not warrant engaging V&L for these types of services or incurring such expenses.\n\n4. In particular, the Debtor's Statement of Financial Affairs and Schedules have already been filed [ECF 77, 78] and are little more than a collection of zeros and a listing of approximately 150 creditors. The Debtor's first monthly operating report [ECF 120] is yet another collection of zeros and null entries. No doubt the Debtor is capable of continuing to complete such reports or amendments thereto with the assistance of his counsel as necessary.\n\n5. The facts presented to the Court by the Debtor thus far show no special \"cash flow\" analysis is required here – the Debtor purportedly has no income. The bulk of the claims scheduled by the Debtor pertain to litigations (many of which have been pending for years) and professional services creditors. The Debtor did not require V&L's services for the litigations prior to the Petition Date (*i.e*., V&L was not engaged by the Debtor prepetition), and no facts have been presented to indicate that V&L's services are now required in connection with the litigations or claims process. The Debtor's Schedules also only show purportedly that approximately 20 payees received payments from the Debtor during the 90-day period immediately preceding the Petition Date -- all of which are for \"professional services\". [ECF 77 at p. 21]. These facts do not support engaging a financial adviser for the services outlined in the FA Motion. Simply put, presently, as presented by the Debtor to the Court, this is not a financially complex case that necessitates engagement of a financial advisor.<sup>2</sup>\n\n6. Notably, one of the proposed services to be performed by V&L is to control disbursements of proceeds from the Debtor's proposed postpetition financing facility (the \"**DIP**\n\n<sup>2</sup> This statement should not be mistaken to state that unwinding the Debtor's shell game of hiding assets is simple it is not. But the creditors will undertake the effort to locate and recover such assets. The estate should not pay a financial adviser to hinder such efforts. It is the routine bankruptcy services set forth in the FA Motion that do not require a financial adviser based on the circumstances of this case.\n\n**Facility**\"). Contemporaneously herewith, the Creditors are filing an objection to the proposed DIP Facility on grounds that the proposed facility is illusory and gives inequitable leverage over the course of this case to the Debtor (and lender), among other things. To the extent that the objection is overruled and the DIP Facility, or another facility with a similar mechanism, is approved, the Creditors submit that a similar result can be achieved in other ways, perhaps at lower cost. V&L's role under the DIP appears to be akin to an escrow agent and payment processor. Without a budget by V&L, it appears such services could be handled in a more cost-effective manner than by the payment terms set forth in the FA Motion.\n\n7. In the event creditors are able to identify and marshal assets to the estate, the situation of this case may change. But the FA Motion is premature at best. While the panoply of services set forth in the FA Motion is excessive here, to the extent certain services delineated in the FA Motion are found by the Court to be necessary, a budget for the specified services should be established and subject to approval by the Court.<sup>3</sup>\n\n### **CONCLUSION**\n\n**WHEREFORE**, the Creditors request that the Court deny the FA Motion and grant such other and further relief as is just and proper.\n\nDated: April 6, 2022 */s/ Kristin B. Mayhew*  Kristin Mayhew **MCELROY, DEUTSCH, MULVANEY & CARPENTER, LLP** 30 Jelliff Lane Southport, CT 06890 (203) 319-4000 kmayhew@mdmc-law.com\n\n- and -\n\n<sup>3</sup> There was no disclosure in the FA Motion of any retainer having been paid to V&L, and therefore seemingly no retainer was paid to V&L, but it should be clarified.\n\nCarollynn H.G. Callari (*pro hac vice*) David S. Forsh (*pro hac vice*) **CALLARI PARTNERS LLC** One Rockefeller Plaza, 10th Floor New York, NY 10020 (212) 202-3050 ccallari@callaripartners.com dforsh@callaripartners.com\n\n*Attorneys for Rui Ma and Weican Meng*\n\n#### **CERTIFICATE OF SERVICE**\n\nI, Kristin B. Mayhew, hereby certify that a true and accurate copy of the foregoing Objection of Creditors Rui Ma and Weican Meng to the Debtor's Proposed Retention of Verdolino & Lowey, P.C. as Financial Advisor was filed with the Court on April 6, 2022. Notice of this filing will be sent by e-mail to all parties by operation of the court's electronic filing system. Parties may access this filing through the court's CM/ECF System.\n\n> /s/ Kristin B. Mayhew Kristin B. Mayhew","body_zh":"UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION（美国康涅狄格区破产法院布里奇波特分院）\n\n关于：\n\nHO WAN KWOK（郭文贵），\n\n债务人。\n\n第11章\n\n案号：22-50073(JAM)\n\n2022年4月6日\n\n债权人 RUI MA（马锐）和 WEICAN MENG（孟维参）对债务人拟聘请 VERDOLINO & LOWEY, P.C. 担任财务顾问的异议\n\n债权人 Rui Ma（马锐）和 Weican Meng（孟维参）（以下简称「债权人」），通过其下述署名律师，特此对债务人聘请并雇佣 Verdolino & Lowey, P.C.（以下简称「V&L」）担任财务顾问的申请（以下简称「财务顾问聘请动议」）[ECF 90] 提出本异议，并谨此陈述如下：\n\n前言陈述\n\n1. 财务顾问聘请动议未能为在本案中为债务人聘请任何财务顾问提供正当理由。简而言之，本案的情况并不具备必要性。虽然财务顾问聘请动议列出了财务顾问通常向第11章公司债务人提供的一连串标准服务清单，但并未对为何此类服务在本案中是必需的，或者它们将如何使破产财产受益提供任何解释。本案涉及一个声称没有任何资产、没有收入且不运营任何业务的个人。应当要求债务人在产生行政管理费用方面保持审慎。如果确实需要某些服务，则应说明对此类服务的需求，并应向法院提交预算并由法院批准。因此，应当驳回财务顾问聘请动议。\n\n债权人的异议\n\n2. 通过财务顾问聘请动议，债务人寻求聘请 V&L 来履行财务顾问通常向第11章公司债务人提供的服务。根据财务顾问聘请动议由 V&L 提供的服务被描述为财务咨询、顾问、会计服务、税务及其他相关服务，其中包括以下内容：\n\n- (a) 协助编制财务状况说明书（Statement of Financial Affairs）和资产负债明细表（Schedules），以及对其的所有支持，并在必要时协助任何修改；\n- (b) 协助编制和/或审查现金流及相关预算预测，包括就申请破产后的财务状况提供建议；\n- (c) 开设并维护占有中债务人（DIP）账户，并在必要时执行支出并提供所有现金活动的核算；\n- (d) 编制、审查和分析月度运营报告和/或季度报告；\n- (e) 协助编制和/或审查破产财产的联邦和州所得税申报；\n- (f) 协助审查、对账、分析并在必要时对债权申报（proofs of claim）提出异议；\n- (g) 协助审查债务人的账簿和记录，以查找可能的撤销权交易（avoidable transactions），例如偏颇性清偿（preference）和欺诈性转让（fraudulent transfer）主张；\n- (h) 协助提供任何必要的诉讼支持；\n- (i) 协助破产重整方案的制定和准备，包括可行性分析；以及\n- (j) 提供一般性咨询并协助处理可能出现的、以及可能由贵方或债务人指示的任何其他事项和任务。\n\n[ECF 90，第3-4页]。\n\n3. 债权人承认 V&L 拥有提供这些服务的专业能力。1\n\n债权人的异议涉及的事实是，本案涉及潜在的有限资金，一个自称没有收入的个人债务人，据称没有需要管理的业务且资产极少，因此本案并不需要为这些类型的服务聘请 V&L 或产生此类费用。\n\n1 然而，债权人指出，作为财务顾问聘请动议附件C随附的 Jalbert 宣誓书指出了 V&L 与涉及本案的某些主要律师事务所之间存在的各种先前和现有的关系，包括披露 Brown Rudnick 目前在某些其他案件中是 V&L 的法律顾问。[ECF 90，第19-21页]。这些关系使 V&L 的无利害关系人（disinterestedness）身份受到质疑。\n\n4. 特别是，债务人的财务状况说明书和资产负债明细表已经提交 [ECF 77, 78]，且充其量不过是一堆零的集合以及约150名债权人的清单。债务人的第一份月度运营报告 [ECF 120] 同样是一堆零和无效条目的集合。毫无疑问，债务人有能力在必要时在其律师的协助下继续完成此类报告或其修改。\n\n5. 债务人迄今向法院陈述的事实表明，此处不需要特殊的「现金流」分析——债务人据称没有收入。债务人列入明细表的大部分债权与诉讼（其中许多已悬而未决多年）以及专业服务债权人有关。在申请日（Petition Date）之前，债务人的诉讼并不需要 V&L 的服务（即，债务人在申请破产前并未聘请 V&L），并且没有提供任何事实表明现在在诉讼或债权审核程序中需要 V&L 的服务。债务人的资产负债明细表也仅显示，在紧接申请日之前的90天期间，据称约有20名收款人从债务人处收到了付款——全部用于「专业服务」。[ECF 77，第21页]。这些事实并不支持为财务顾问聘请动议中列出的服务聘请财务顾问。简而言之，目前按照债务人向法院陈述的情况，这并非一个在财务上复杂到需要聘请财务顾问的案件。2\n\n6. 值得注意的是，V&L 拟履行的服务之一是控制债务人拟议的申请破产后融资安排（以下简称「DIP 融资」）所得款项的支出。\n\n2 这一陈述不应被误解为表明解开债务人隐藏资产的障眼法（shell game）是简单的——事实并非如此。但债权人将努力查找并追回此类资产。破产财产不应向财务顾问支付费用来阻碍此类努力。正是基于本案的情况，财务顾问聘请动议中所列的常规破产服务不需要财务顾问。\n\n与本文件同时，债权人正在对拟议的 DIP 融资提出异议，理由包括拟议的融资是虚幻的，并赋予了债务人（及贷方）对本案进程的不公平杠杆作用。如果异议被驳回且 DIP 融资或具有类似机制的其他融资获得批准，债权人认为可以通过其他方式实现类似的结果，或许成本更低。V&L 在 DIP 项下的角色似乎类似于托管代理人（escrow agent）和付款处理人。在没有 V&L 预算的情况下，此类服务似乎可以以比财务顾问聘请动议中规定的付款条款更具成本效益的方式进行处理。\n\n7. 如果债权人能够确定并为破产财产归集资产，本案的情况可能会发生变化。但财务顾问聘请动议充其量是不成熟的。虽然财务顾问聘请动议中所列的一整套服务在此处是过度的，但如果法院认定财务顾问聘请动议中所述的某些服务是必要的，则应为指定的服务制定预算并经法院批准。3\n\n结论\n\n为此，债权人请求法院驳回财务顾问聘请动议，并给予公正和适当的此类其他及进一步救济。\n\n日期：2022年4月6日\n\n/s/ Kristin B. Mayhew\nKristin Mayhew\nMCELROY, DEUTSCH, MULVANEY & CARPENTER, LLP\n30 Jelliff Lane\nSouthport, CT 06890\n(203) 319-4000\nkmayhew@mdmc-law.com\n\n- 以及 -\n\n3 财务顾问聘请动议中并未披露已向 V&L 支付任何预付款（retainer），因此看似并未向 V&L 支付预付款，但这应当予以澄清。\n\nCarollynn H.G. Callari（特许出庭律师）\nDavid S. Forsh（特许出庭律师）\nCALLARI PARTNERS LLC\nOne Rockefeller Plaza, 10th Floor\nNew York, NY 10020\n(212) 202-3050\nccallari@callaripartners.com\ndforsh@callaripartners.com\n\nRui Ma（马锐）和 Weican Meng（孟维参）的代理律师\n\n送达证书\n\n我，Kristin B. Mayhew，特此证明前述《债权人 Rui Ma（马锐）和 Weican Meng（孟维参）对债务人拟聘请 Verdolino & Lowey, P.C. 担任财务顾问的异议》的真实准确副本已于2022年4月6日向法院提交。该提交的通知将通过法院电子提交系统的运行通过电子邮件发送给所有当事人。当事人可通过法院的 CM/ECF 系统查阅本文件。\n\n/s/ Kristin B. Mayhew\nKristin B. Mayhew","key_entities":["Je","Kwok","Ho Wan Kwok"],"ecf_references":[{"doc_number":77,"court":"CTB"},{"doc_number":90,"court":"CTB"},{"doc_number":120,"court":"CTB"}],"word_count":1361,"status":"published","published_at":null,"created_at":null,"updated_at":"2026-08-23 12:50:24"}