{"id":"court_ctb_1832_0","court":"CTB","case_no":"22-50073","doc_number":1832,"sub_number":0,"doc_type":"TRANSCRIPT","filed_date":"2023-05-30","title":"UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION In Re \\* Case No. 22-50073 (JAM) \\* HO WAN KW","summary_zh":null,"summary_en":null,"body_en":"UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION In Re \\* Case No. 22-50073 (JAM) \\* HO WAN KWOK and GENEVER \\* HOLDINGS CORPORATION, \\* Bridgeport, Connecticut \\* May 23, 2023 Debtor. \\* \\* \\* \\* \\* \\* \\* \\* \\* \\* \\* \\* \\* \\* \\* \\* \\* \\* TRANSCRIPT OF STATUS CONFERENCE BEFORE THE HONORABLE JULIE A. MANNING UNITED STATES BANKRUPTCY JUDGE APPEARANCES: Chapter 11 Trustee: LUC A. DESPINS, ESQ. Paul Hastings 200 Park Avenue New York, NY 10166 For the Chapter 11 Trustee: G. ALEXANDER BONGARTZ, ESQ. Paul Hastings LLP 200 Park Avenue New York, NY 10166 PATRICK R. LINSEY, ESQ. Neubert Pepe & Monteith, PC 195 Church Street New Haven, CT 06510 For the U.S. Trustee: HOLLEY L. CLAIBORN, ESQ. Office of the United States Trustee The Giaimo Federal Building 150 Court Street, Room 302 New Haven, CT 06510 Proceedings recorded by electronic sound recording, transcript produced by transcription service. **Fiore Reporting and Transcription Service, Inc. 4 Research Drive, Suite 402 Shelton, Connecticut 06484 (203)929-9992**\n\nAPPEARANCES: (Cont'd) For the Creditor, Pacific STUART SARNOFF, ESQ. Alliance Asia Opportunity MIA GONZALEZ, ESQ. Fund L.P.: O'Melveny & Myers LLP Times Square Tower 7 Times Square New York, NY 10036 PATRICK M. BIRNEY, ESQ. Robinson & Cole 28 Trumbull Street Hartford, CT 06103 For HK International Funds SAM DELLA FERA, JR., ESQ. Investments, LLC and Chiesa Shanhinian & Mei Guo: Giantomasi, P.C. 105 Eisenhower Parkway Roseland, NJ 07068 For the Creditors Committee: IRVE GOLDMAN, ESQ. Pullman & Comley 850 Main Street Bridgeport, CT 06601\n\n2\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 3 of 41\n\nHo Wan Kwok - May 23, 2023 3 (Proceedings commenced at 1:02 p.m.) THE CLERK: Case Number 22-50073, Ho Wan Kwok and Genever Holdings, LLC. THE COURT: Good afternoon. If we could have appearances for the record, starting with the Chapter 11 trustee, please? MR. DESPINS: Good afternoon, Your Honor. Luc Despins, Chapter 11 Trustee. MR. LINSEY: Good afternoon, Your Honor. Patrick Linsey for the trustee. MR. SARNOFF: Good afternoon, Your Honor. Stuart Sarnoff, O'Melveny & Meyers, for creditor, PAX. MS. GONZALEZ: Mia Gonzalez, O'Melveny & Myers for PAX. MR. BIRNEY: Patrick Birney, Robinson & Cole for PAX. MR. GOLDMAN: Good afternoon, Your Honor. Irve Goldman, Pullman and Comley for the Creditor's Committee. MR. DELLA FERA: Good afternoon, Your Honor. Sam Della Fera, Chiesa Shanhinian & Giantomasi, for Mei Guo and Hong Kong -- HK International Funds Investments USA Limited, LLC. MS. CLAIBORN: And good afternoon, Your Honor. Holley Claiborn for the U. S. Trustee. THE COURT: Good afternoon. So everyone on the\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 4 of 41\n\n| | Ho Wan Kwok - May 23, 2023
4 |\n|----|------------------------------------------------------------------|\n| 1 | remote hearing -- Attorney Claiborn is here in the |\n| 2 | courtroom.
She was here for other matters today, so just so |\n| 3 | you know, I think you can kind of see her, but in any event, |\n| 4 | Attorney Claiborn is in the courtroom. |\n| 5 | Okay.
Trustee Despins, you asked for this status |\n| 6 | conference regrading a possible -- |\n| 7 | MR. DESPINS:
Yes, Your Honor. |\n| 8 | THE COURT:
-- sale of the Lady May, so please |\n| 9 | proceed. |\n| 10 | MR. DESPINS:
And first, thank you very much, Your |\n| 11 | Honor, for allowing this status conference on such short |\n| 12 | notice. |\n| 13 | And I am going to try to cover these points fairly |\n| 14 | quickly, and I'm going to address -- to be clear, the Lady |\n| 15 | May only, not the Lady May II.
The Lady May II is being |\n| 16 | prepared for I guess launch.
There's a part that's missing |\n| 17 | for the repairs.
That should be completed by next week.
So |\n| 18 | we're talking only about the Lady May. |\n| 19 | So as Your Honor knows, we moved the Lady May to |\n| 20 | Newport.
In fact, it was first in the regular zone, but it |\n| 21 | was transferred to the free-trade zone on May 17th, and it |\n| 22 | remains docked there. |\n| 23 | In terms of the sale process, Your Honor will |\n| 24 | recall that you approved the retention of Edmonson as the |\n| 25 | broker and the broker has engaged in various -- this is on |\n| | |\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 5 of 41\n\nHo Wan Kwok - May 23, 2023 5 Page 2 of the presentation. Actually, Your Honor, I want to make sure if -- can we put this up? Do we have control over -- we need to have control. Mr. Bongartz needs to be given control of the screen, Your Honor, so we can put up those slides if it's possible. THE COURT: Okay. Just give us a moment, please. MR. DESPINS: Thank you. THE COURT: We're working on that. MR. DESPINS: And then we also sent these to the courtroom deputy probably an hour or so ago. And the people on the phone all have copies of that -- of that presentation. THE COURT: All right. It's not loading at the moment, Attorney -- Trustee Despins, so give us a second and we'll see what we can do. MR. DESPINS: Okay. THE COURT: What about Attorney Baumgartz? If we give him control -- MR. DESPINS: Yes, if you could do that. THE COURT: -- can he share his screen? (Pause) MR. DESPINS: Mr. Bongartz is prepared to post if he's given control of the screen. THE COURT: We can -- we can do that?\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 6 of 41\n\n| | Ho Wan Kwok - May 23, 2023
6 |\n|----|-----------------------------------------------------------------|\n| 1 | THE COURT:
Okay.
Give us a moment.
We should be |\n| 2 | able to give Attorney Bongartz control. |\n| 3 | (Pause) |\n| 4 | THE COURT:
I think if we -- I think I've now |\n| 5 | given Attorney Bongartz some -- |\n| 6 | MR. DESPINS:
I think we have it. |\n| 7 | THE COURT:
I got it.
Yep.
I did it. |\n| 8 | MR. DESPINS:
We have it, Your Honor. |\n| 9 | THE COURT:
I got him to share the screen.
Okay. |\n| 10 | It's taken care of. |\n| 11 | MR. DESPINS:
Okay.
Great.
Okay.
Apologies for |\n| 12 | the interruption, Your Honor. |\n| 13 | So we're on Page 2 of the presentation, talking |\n| 14 | about .2, the sale process.
Edmonson has done various -- |\n| 15 | has taken various steps to market the Lady May, contacted |\n| 16 | all the brokers, the yacht brokers through email and other |\n| 17 | communications.
Also listed the Lady May on YACTCO.
YATCO |\n| 18 | is really the equivalent of multiple listing system for real |\n| 19 | estate, but it's for luxury yachts, so it was posted there. |\n| 20 | And there's an electronic brochure for the Lady May that |\n| 21 | includes photographs and specification that was circulated |\n| 22 | -- widely circulated to brokers around the world. |\n| 23 | To date, Your Honor, we have received five formal |\n| 24 | offers from prospective buyers, both U.S. residents and |\n| 25 | non-U.S. residents.
There have been several showings of the |\n| | |\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 7 of 41\n\n| | Ho Wan Kwok - May 23, 2023
7 |\n|----|-----------------------------------------------------------------|\n| 1 | Lady May to prospective buyers or their brokers, and we -- I |\n| 2 | want to say, we countered these five offers, but -- turning |\n| 3 | to Page 3, we need a catalyst in the sense that these five |\n| 4 | bidders know that there are other bidders.
Some have moved, |\n| 5 | but not sufficiently in our view, and we need a catalyst to |\n| 6 | force people to put their final and best foot forward, |\n| 7 | essentially. |\n| 8 | And I know, Your Honor, that in Connecticut you |\n| 9 | have a very elaborate set of rules governing sales of assets |\n| 10 | in bankruptcy cases, and I know right up front, and I've |\n| 11 | been cautioned both by Mr. Linsey and by Mr. Goldman, that |\n| 12 | we're not compliant with all these rules. |\n| 13 | And we're not asking for relief now, but that's |\n| 14 | certainly the goal of this status conference is to get Your |\n| 15 | Honor up to speed so that we don't proceed in a direction |\n| 16 | that you would find unacceptable. |\n| 17 | So I'll say right off the bat, what we're |\n| 18 | proposing is neither a sole private sale, nor a full public |\n| 19 | sale.
It's a hybrid.
And as I said, we need a catalyst to |\n| 20 | force people to put their best bid forward. |\n| 21 | After extensive discussion with the broker, the |\n| 22 | sort of the conclusions reached are that the five bidders |\n| 23 | are highly motivated.
They're not offering us the price |\n| 24 | that we want at this stage.
As I said before in court, |\n| 25 | there's always that -- or, you know, a bankruptcy sale, |\n| | |\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 8 of 41\n\n| | Ho Wan Kwok - May 23, 2023 | 8 |\n|----|--------------------------------------------------------------|---|\n| 1 | therefore discounted prices, and you know, we want to | |\n| 2 | counter that to the extent we can. | |\n| 3 | But these five bidders will not stay around the | |\n| 4 | hoop, for a lack of better expression, in an -- for an | |\n| 5 | indefinite period of time. | |\n| 6 | They need to see a path towards a final process | |\n| 7 | and that's what we want to offer them.
And the broker is | |\n| 8 | really of the view that we need to move quickly.
Quickly | |\n| 9 | being defined as asking them, and also the rest of the | |\n| 10 | world, and I'll describe what we're going to do there, to | |\n| 11 | put final and best bids forward by May 30th, which is | |\n| 12 | Tuesday of next week, at 5:00 p.m. | |\n| 13 | But we want to provide guidance to the bidders so | |\n| 14 | that we're not wasting our time with bids that turn out | |\n| 15 | later to be illusory or not serious, and therefore, we're | |\n| 16 | putting the guidance that's on that page, Page 3, and so | |\n| 17 | that only offers in excess of 20 million will be considered, | |\n| 18 | and that gives Your Honor a sense of where we are in terms | |\n| 19 | of the offer received. | |\n| 20 | Bids must be based on the former purchase | |\n| 21 | agreement to be provided by the trustee to prospective | |\n| 22 | bidders or buyers. | |\n| 23 | That's very important because the typical yacht | |\n| 24 | sale agreement, Your Honor, allows the buyer to change their | |\n| 25 | mind for whatever reason until a date which is referred to | |\n| | | |\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 9 of 41\n\nHo Wan Kwok - May 23, 2023 9 as the -- the date at which the evaluation, the review process that's called the survey, is completed. So I want to be precise. Under the customary agreement as a buyer, you can change your mind for whatever reason, I don't like the color anymore or something like that, while the survey is ongoing. So it's not only that you need to raise issues that are -- that come to light as a result of a survey, you can change your mind for any reason. That doesn't work, obviously, from the bankruptcy point of view, and we told the broker that so we're going to have a tailor made agreement that would basically say, you're going to sign an agreement, you're going to be bound by that agreement, you need to put a 20 percent deposit, cash deposit, early on by June 1st. And yes, there will be a survey. It's called a survey, but it's really like a house inspection, Your Honor. It takes typically three weeks, but we're giving them -- essentially, we're giving them three weeks to complete the survey. By the way, the ship needs to be taken out of the water for that inspection. And they cannot change their mind during that survey period except that if it turns out that -- I'm making this up now -- that one of the engines is defective, they\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 10 of 41\n\nHo Wan Kwok - May 23, 2023 10 can raise their hand and say, no, I'm not going to buy it at the price that I bid, because of that problem. And this is like a home. You know, I'm sure Your Honor has been through this. There's two negotiations. The purchase price and there's the inspection negotiation where people find all sorts of problems. I'm not saying that would be the case here, but that's the nature of the beast and we want to be protected against that, and I'll explain to Your Honor how we're going to be protected against that later, but one of the reasons we would protect against that is that, we can only walk as a result of issues raised in the survey and they need to document that, and we have the ability if they want, to purchase the survey from them. 15 So typically -- the survey process typically costs \\$40,000, and you might say, wow, you're out of money, why are you spending \\$40,000? It's potentially spending \\$40,000, but that allows us to take the survey and go to other bidders and say, look, this is the -- this is the problem, or whatever the problem was. Are you ready to proceed accordingly? That allows us to pivot, Your Honor, in terms of switching bidders, much faster than if we didn't have that provision that allows us to essentially get the survey at cost. And so the survey would have to be completed by\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 11 of 41\n\n| | Ho Wan Kwok - May 23, 2023
11 |\n|----|----------------------------------------------------------------|\n| 1 | June 28th, and the -- as I said, the purchase agreement |\n| 2 | would have to be signed by June 9th, so that's very soon.
I |\n| 3 | had left -- we've left blank there on Page 4 as to when the |\n| 4 | closing would take place, because that really depends not |\n| 5 | entirely but in part, on Your Honor in the sense that one of |\n| 6 | the things that we put in there at the end is that the |\n| 7 | winning bid is subject to bankruptcy court approval.
We all |\n| 8 | know what that means.
That means that anything could happen |\n| 9 | at that hearing in terms of additional bids being submitted. |\n| 10 | But the point is that we need to understand how |\n| 11 | quickly, assuming we have a binding bid, the survey is |\n| 12 | completed and all that, how quickly we could proceed. |\n| 13 | The intent would be to file the motion to approve |\n| 14 | the transaction while the survey is ongoing, because we have |\n| 15 | the ability to pivot to another buyer. |\n| 16 | And basically what we would do is that if Buyer |\n| 17 | Number 1 doesn't come through for some reason, or he |\n| 18 | exaggerates the issues in the survey, we would amend the |\n| 19 | motion to say we're selling to Bidder Number 2 at the |\n| 20 | following price, et cetera, et cetera. |\n| 21 | So the idea is to get the process going so that we |\n| 22 | can pivot quickly, because Your Honor knows, it's costing us |\n| 23 | a fortune to own that ship. |\n| 24 | So now the question you probably are asking in |\n| 25 | your mind about ruling it, there are all these procedures |\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 12 of 41\n\n| | Ho Wan Kwok - May 23, 2023
12 |\n|----|---------------------------------------------------------------|\n| 1 | and all that.
We don't have a court order approving these |\n| 2 | procedures, which I note, Your Honor, as I've sold many |\n| 3 | assets in bankruptcy before, I know that getting a court |\n| 4 | order with a breakup fee, expense reimbursement, and the |\n| 5 | whole panoply of protections is the norm.
I understand |\n| 6 | that, Your Honor. |\n| 7 | But after talking to the broker, the conclusion |\n| 8 | was that we would lose a lot of bidders in this process in |\n| 9 | the sense that (indiscernible) to explain that, but this is |\n| 10 | not your typical buyer, real estate, or a building, or a |\n| 11 | company. |\n| 12 | These are very rich people that obviously if you |\n| 13 | own a boat like that you have to have a lot of money.
They |\n| 14 | don't have an appetite to be involved with bankruptcy |\n| 15 | lawyers on negotiating all these provisions. |\n| 16 | And therefore I realize, Your Honor, that this is |\n| 17 | a hybrid process that technically it would be preferable in |\n| 18 | a normal case to have all of the bells and whistles covered |\n| 19 | through an interim bidding procedure order, et cetera, but |\n| 20 | in this case, given where we are, given the interest, given |\n| 21 | the risk of losing bidders that are interested today if we |\n| 22 | prolong the process, the conclusion that I reached in |\n| 23 | support of the discussions, extensive discussions with the |\n| 24 | broker, that it is better to pursue it like this knowing |\n| 25 | that, you know, it's not your standard procedure, Your |\n| | |\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 13 of 41\n\nHo Wan Kwok - May 23, 2023 13 Honor. So again, I have no motion on file. I am doing this largely because it is a hybrid procedure. I think that this will maximize value, and so that's really the presentation, Your Honor. I'm sure I'm hitting you with a lot of new issues, concepts, but we think that the -- one, there needs to be a catalyst for people to put up their best bid. Two, that catalyst must be soon, fairly soon, meaning a week or so from today. And remember, it's subject to bankruptcy court approval. So if somebody shows up at the hearing and says, I'll bid 30 million for that ship, I'm sure Mr. Goldman would be standing up and saying, Your Honor, don't listen to the trustee, you should approve that other bid. So the point is, there is a failsafe built in protection despite the fact that we don't have a -- we wouldn't have a bidding procedure order specifically. And oh, by the way, I have socialized this issue with PAX and with the creditor's committee, so they may have views as well. I don't want to preempt them, but that's the -- that's what I wanted to cover today, Your Honor. THE COURT: Okay. Well, I, as you correctly noted, am just learning of all this and there are a lot of issues associated with it, which may or may not need to be\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 14 of 41\n\nHo Wan Kwok - May 23, 2023 14 addressed. I'm not certain. But I do have a few questions. MR. DESPINS: Sure. THE COURT: When I'm looking at this presentation, you're not asking the Court to enter an order with regard to what you plan on doing next Tuesday, which is obtain the best offer from these five bidders that you have in place. Is that correct? MR. DESPINS: Yes, that's correct, but it's not only the five bidders, it's the rest of the world as well. Yes. THE COURT: Well, so my question is, to me, and maybe I'm wrong, again, I haven't really had any time to think about it, but aren't you just really trying to get a stalking horse bidder. By getting the five people to give you their best, you're going to then take that person, and that's going to be -- or whatever it is, you know, whoever the bidder is. That's going to be the bid that is subject to the sale motion and to approval unless somebody outbids them. Is that how you see this unfolding? MR. DESPINS: Yes, except I would not describe it as a stalking horse. I would describe it, you know, with the caveat that it's subject to bankruptcy court approval, and they know that coming in, they understand that -- THE COURT: Okay.\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 15 of 41\n\n| | Ho Wan Kwok - May 23, 2023
15 |\n|----|--------------------------------------------------------------|\n| 1 | MR. DESPINS:
-- and but in -- so the broker will |\n| 2 | -- they will be known to not only the losing four bidders, |\n| 3 | but to the rest of the world, what this ship is going to |\n| 4 | sell for, which allows anyone in the world to come in and do |\n| 5 | their thing. |\n| 6 | But I don't -- that's the issue -- I know it |\n| 7 | sounds a bit opaque, but it's -- the broker doesn't think |\n| 8 | it's in our interest to go and explain to them that -- this |\n| 9 | sole stalking horse concept, because we will lose them in |\n| 10 | that context. |\n| 11 | Just, if we tell them to put your best foot |\n| 12 | forward and then we'll take the highest bid, highest and |\n| 13 | best bid, and then you're absolutely right that the |\n| 14 | consequence of the fact that there is subsequent court |\n| 15 | approval is what it is, which is that there's always the |\n| 16 | possibility of someone else showing up with more. |\n| 17 | THE COURT:
Well, okay.
So let me go to the next |\n| 18 | question.
So I'm not -- you're not asking the Court to |\n| 19 | enter any kind of order with regard to your proposed process |\n| 20 | to obtain what would be in your judgment the highest and |\n| 21 | best bid, which would then become subject of a motion to |\n| 22 | sell? |\n| 23 | MR. DESPINS:
Correct. |\n| 24 | THE COURT:
Okay. |\n| 25 | MR. DESPINS:
It would be -- |\n| | |\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 16 of 41\n\nHo Wan Kwok - May 23, 2023 16 THE COURT: Okay. MR. DESPINS: -- to file a motion to sell after that. So, yes. THE COURT: Okay. And then -- okay. That -- I'm with you. I -- okay. So then the motion to sell gets filed and you say in that motion, ABC Company has bid \\$20 million to buy the Lady May. The trustee is -- supports that bid and will be proceeding to take any steps necessary to have that bid be the successful bid and have a closing of the sale on X date, but on Y date, there will be a hearing prior to that closing date to approve that bid subject to any other bids that might be received by the trustee and deemed to be a higher or better offer for the sale of the yacht. Is that what you're contemplating? MR. DESPINS: Practically, yes, but I don't think that I would -- I would just say subject to bankruptcy court approval, which is implicit. What you're saying is absolutely implicit. I have a fiduciary duty to get the highest price possible at any given time, and that may evolve, you know, over time. But you're correct, that -- THE COURT: Go ahead. I'm sorry. MR. DESPINS: No. You're correct that the practical implication of that is that somebody else could\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 17 of 41\n\n| | Ho Wan Kwok - May 23, 2023
17 |\n|----|--------------------------------------------------------------|\n| 1 | show up, and as long as it's a real bid that has -- and |\n| 2 | they're willing to close, you know, on the same terms and |\n| 3 | conditions and all that, if it's higher -- and by the way, |\n| 4 | you said 20.
That's a minimum that we would -- |\n| 5 | THE COURT:
No, I'm just using -- |\n| 6 | MR. DESPINS:
-- agree to 20 -- |\n| 7 | THE COURT:
-- an example. |\n| 8 | MR. DESPINS:
Yes.
Yes.
Yes.
Yes.
Yes. |\n| 9 | THE COURT:
I'm not saying that that's the amount. |\n| 10 | I'm just -- |\n| 11 | MR. DESPINS:
No.
No.
Yes.
Yes.
So yes, at |\n| 12 | that point I think that if I didn't go in that direction, |\n| 13 | Mr. Goldman would be standing up and saying, Your Honor, we |\n| 14 | need to override the trustee's business judgment here |\n| 15 | because there's a higher bid. |\n| 16 | THE COURT:
All right.
Then -- |\n| 17 | MR. DESPINS:
And I think you would grant that |\n| 18 | relief. |\n| 19 | THE COURT:
So let's continue down the path.
So |\n| 20 | what happens if the bid that you deem to be the highest and |\n| 21 | best offer, purchase price for the yacht after next Tuesday, |\n| 22 | doesn't close for whatever reason? |\n| 23 | So say they do the survey and they find something, |\n| 24 | they can walk away.
Are you in a position -- is there |\n| 25 | another bidder that's in place of the original five, or do |\n| | |\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 18 of 41\n\nHo Wan Kwok - May 23, 2023 18 you have to start all over again? MR. DESPINS: Well, technically, I don't have a backup bidder, which is what you're referring to, that is bound to close. I don't have that, because I would have to pay for that through some kind of fee, and I really -- and also, it's not only the fee but the complications that we just -- and spook these types of bidders. But, Your Honor is correct. Technically, I don't have a backup bidder, but that's why I have the option to buy the survey, because I don't want to have another bidder with a new survey that would take another three or four weeks. We want to be in a position to pivot and to amend the motion to say, we're going to Bidder Y from Bidder X, and we also -- we have the 20 percent deposit, Your Honor. So if the -- there -- if they're not closing because they just changed their mind, or they're raising issues that are exaggerated or non-existent, 20 percent -- you know, they're going to forfeit their deposit and Your Honor is going to have exclusive jurisdiction over the contract, over enforcement of the contract. That's our protection. But you're right that -- I know that. Typically you have a backup bidder that's bound to close, but you need to pay them for that and then the buyer number one will say,\n\nwell, if you have that, I won't be compensated if I get\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 19 of 41\n\nHo Wan Kwok - May 23, 2023 19 topped. So now we get into -- THE COURT: I understand. MR. DESPINS: -- permutations around three percent -- well, you understand. Okay. Sorry. THE COURT: Okay. I understand. All right. So then let's -- I'm not doing anything as far as an order is concerned for your plan between now and next Tuesday. MR. DESPINS: Okay. THE COURT: So then I would assume you'll be filing a motion by the end of next week with regard -- maybe even, you know, on Wednesday, I don't know, with regard to -- MR. DESPINS: Well, it would be -- the scheduling, Your Honor, would be first they need -- we need to have a contract signed, and then once they have the contract signed and 20 percent deposit, then we'd file our motion as soon as possible. THE COURT: Okay. And then -- okay. Then once you file that motion, are you looking for a truncated process for a hearing? MR. DESPINS: Well, that's one of the -- that's why we left some of these dates as blanks because -- you know, just to give an example. Let's assume everything goes well, we have a signed purchase agreement on June 9th, which is Friday -- no, sorry. It's Friday -- so two weeks. Two\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 20 of 41\n\nHo Wan Kwok - May 23, 2023 20 weeks. We would file our sale motion on Monday the 12th, and in theory, 21 days from there brings you to July 5th because of the July 4th holiday. That's 21 days. The feedback I'm getting from the broker is these people don't need financing. They all have sums of money and they're hot to close and that's always a good thing and should never lose advantage of that. So that if we can shorten that by a bit, not too much because if there's somebody that for some reason has not heard of this sale -- and by the way, it's been widely advertised -- but you know, they need to have the ability to try to top it. And so we would, you know, maybe look for an objection deadline of maybe the 30th instead of the 5th. So shortened, but not in a massive way. THE COURT: Okay. And then have a hearing when? If you have an objection deadline of June 30th, when would you expect to have a hearing? MR. DESPINS: Maybe on July 6th or something or other. THE COURT: Okay. Hold on a second. Let me just -- okay. That looks possible. I'm just -- let me just check another source and -- I'm asking because I need -- you know, there's a lot of things already scheduled for June. MR. DESPINS: I know.\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 21 of 41\n\n| | Ho Wan Kwok - May 23, 2023
21 |\n|----|---------------------------------------------------------------|\n| 1 | THE COURT:
So I want to make sure that -- yeah, |\n| 2 | July the 6th is definitely possible if -- assuming the time |\n| 3 | frame that you set forth.
And then that would be the sale |\n| 4 | -- that would be the -- that would be the hearing on the |\n| 5 | sale, to approve the sale and -- |\n| 6 | MR. DESPINS:
Correct. |\n| 7 | THE COURT:
And then you would close after that. |\n| 8 | MR. DESPINS:
Correct, Your Honor. |\n| 9 | THE COURT:
Okay.
So under our, you know, local |\n| 10 | rules, you would -- you are proposing to move differently |\n| 11 | than our local rules, so you'll have to ask for relief from |\n| 12 | the local rules to do that, if -- and see whether or not |\n| 13 | that's acceptable, right?
Number one. |\n| 14 | Number two, what we do in this district -- you |\n| 15 | know, many other districts do it as well.
Let's assume you |\n| 16 | file this motion to approve a sale by June -- on June 9th, |\n| 17 | on or around June 9th, and the hearing then would be |\n| 18 | scheduled, let's assume, for July 6th. |\n| 19 | What we do, but you might need to talk to the |\n| 20 | broker and/or tell us that we're wrong in this circumstance |\n| 21 | -- and again, you'd need relief is -- you'd have to file a |\n| 22 | document that gets put on the Court's website that shows |\n| 23 | that this is an asset for sale and, you know, set forth its |\n| 24 | general terms and conditions and things like that, because |\n| 25 | I'm not saying that would happen in this case, but in many |\n| | |\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 22 of 41\n\nHo Wan Kwok - May 23, 2023 22 other cases, not the sale of a yacht, but posting that on the court's website has resulted in higher purchase price for assets, believe it or not, because I guess people, you know, out there look at court web sites for sales of assets. They're -- you know, that's what they do. So that you would have to do along with filing your motion on or around June 9th so that it's out there to provide another source of essentially marketing, that then also would become part of the evidentiary record at your hearing to approve the sale to show what was done to obtain the highest and best price for the asset. I have no idea, and I'm not suggesting you need to answer the question now, but I'm just telling you, that's how it normally works, and that's how the clerk's office would handle it. They'd say, oh, they didn't file a notice, that's a deficiency. You know, and that could stop the process down -- that could slow it down. So I'm throwing that out to you to think about, okay? MR. DESPINS: We can file that notice, Your Honor. THE COURT: Okay. And then as far as the time frame that you set forth, are you -- you are anticipating that you'll have some -- you'll have what you, as the -- in your business judgment determine is the highest and best offer by next Tuesday, and then you believe you're going to be filing -- you hope and believe you're going to be filing\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 23 of 41\n\nHo Wan Kwok - May 23, 2023 23 a motion to approve a sale under Section 363. Now I have no idea, but I mean, I have a thought, but are there -- is anyone -- I'm sure you have, but there are no liens on this property, are there? MR. DESPINS: No, Your Honor. THE COURT: Not even like -- not even a, you know, a maritime lien or anything with regard to any unpaid dockage fees or anything like that? MR. DESPINS: I should have answered, no liens known. So we will -- THE COURT: Right. MR. DESPINS: -- we will check on that. THE COURT: Right. Because obvious -- MR. DESPINS: But a lien would attach to the proceeds in any event, so I don't think that would stop it. THE COURT: True. But there's a notice issue, right? Notice and service on the people that if they had a lien, right? MR. DESPINS: Yes. Yes, Your Honor. THE COURT: That you might need to make -- because if you're going to need to make the presentation that everybody was served, they were served appropriately, they had the opportunity to object, if they have an interest in the property, they know all those kind of things, right? MR. DESPINS: Absolutely.\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 24 of 41\n\nHo Wan Kwok - May 23, 2023 24 THE COURT: So then, who else -- well, I shouldn't say who else because you didn't tell me, so I'm jumping ahead a little bit. In addition to the notice that would be filed in the case and then on the court's website, you're obviously going to have to have the broker show whatever the broker did, right, to market the property. And that may include serving parties who are not parties in this case with the motion to sell and/or related documents, such as the other four bidders that you don't choose as the highest and best, but not only the other four bidders, right? I mean, you know, there may be a need to show that it was whatever -- however the broker markets that it's really been out there to everyone that might have an interest in purchasing it. 17 So I just -- again, I'm highlighting that issue because that's an expectation that the -- that presentation on the sale will include all of that information as well, because you're asking the Court to make those findings, right? So every finding that you're asking the Court to make would have to be substantiated with some evidence. Okay? MR. DESPINS: Yes, Judge. THE COURT: And so one of the -- just to follow\n\nHo Wan Kwok - May 23, 2023 25 this through, and then I think this is my last question for now. The motion to sell gets filed, an objection deadline is set, a hearing date is set, and the closing date is after that hearing date. One of the four bidders who did not -- whose bid was not chosen on May 30, comes to court and says they'll -- no contingencies, ready to close, accept the survey that the bidder -- that the bidder -- the original purchaser had undertaken and wants to outbid -- you know, pay a higher price. What do we do at that point in time? You're saying, I just have to make the determination as to whether or not I'll allow that based upon what the parties -- what everyone in the courtroom has to say about that? MR. DESPINS: Yes. I don't want to be flippant about that, but we owe no duties to the -- to bidders. We owe duty to the estate, Mr. Goldman and I owe a duty to the estate and to maximize value, and we'll have to adjust our thinking based on what happens at that hearing. If -- and that will be a good problem to have frankly, Your Honor, but that's -- THE COURT: I under -- I agree with that, but I want to at least think it through. I don't see that I'm entering any kind of order until -- MR. DESPINS: That precludes that, no. Case 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 25 of 41\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 26 of 41\n\nHo Wan Kwok - May 23, 2023 26 THE COURT: -- until the hearing on July -- if it's, for example, July 6th, right? MR. DESPINS: That's correct. THE COURT: So if I'm not entering any kind of order, then I don't see how anyone's precluded from coming in and trying to purchase it at a higher price. MR. DESPINS: That's correct, Your Honor. THE COURT: Okay. All right. I don't have any other questions at the moment, but I -- doesn't mean I might not after I hear what other people have to say, so who would like to be heard? MR. GOLDMAN: Good afternoon. I just wanted to add to what Mr. Despins had presented. THE COURT: Attorney Goldman, will you just do me a favor and just state your name for the record, because we're on -- you know, we're on audio. And also, for some reason, you're a little muffled in your voice. I don't know if you can get closer to your microphone. MR. GOLDMAN: Is this better, Your Honor? THE COURT: A little better. MR. GOLDMAN: Okay. I'll get closer. Irve Goldman, Pullman Comley, for the creditor's committee. You know, I just wanted to add to what Mr. Despins had presented. He was good enough to include me in the discussions and the thinking that led to what he's presented Case 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 27 of 41\n\nHo Wan Kwok - May 23, 2023 27 as the preferred way of going about selling this asset. And I know we're all used to the typical breakup fee, sales procedure order, which I view as serving really two purposes. One is to protect the highest bidder with a breakup fee, and the other is to, you know, establish a benchmark of interest per the asset and create interest in others for that asset. Now from the estate's point of view, we're not necessarily interested in protecting the buyer, and so that purpose of the breakup fee clearly is inapplicable. To the extent that it's used to create interest in others, from what I've heard so far, due to the unique nature of this asset and the unique nature of the market for it, I am convinced, at least at this point, that what they have said about what will maximize value in terms of this particular procedure is really going to substitute for what a sales procedure order and a breakup fee would do. And so that's the committee's thinking at this point of view. So at this preliminary stage, you know, we have no objection to his going forward in the way that he presented it, and -- but we'll -- as Your Honor said, you know, we'll have to see how the evidence comes out at the sale hearing. But I just wanted Your Honor to understand our way of thinking on this.\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 28 of 41\n\nHo Wan Kwok - May 23, 2023 28 THE COURT: Okay. Thank you. Does PAX wish to be heard? MR. SARNOFF: Your Honor, only that -- excuse me. My daughter's wedding was this weekend and I have no voice left, so I apologize. Stuart Sarnoff on behalf of Creditor, PAX. Mr. Despins was good enough to, as he did with Mr. Goldman, to sort of preview his thinking, and at this point we concur with Mr. Goldman that we're on board at this stage. THE COURT: Okay. Thank you. And I hope you had a wonderful time, even if your voice is gone, which probably means you did have a wonderful time. MR. SARNOFF: I may have had too good a time, but thank you. Thank you very much, Your Honor. THE COURT: Okay. That's nice to hear. Does counsel for HK International wish to be heard? MR. FERA: Your Honor, Sam Della Fera for HK and Ms. Guo. As the Court may recall, we reserved -- we reserved the right to -- of our client to connect to any sale and, you know, we're prepared to address any proposed sale at the time that the motion described by the trustee is filed.\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 29 of 41\n\n| Ho Wan Kwok - May 23, 2023 |\n|---------------------------------------------------------------|\n| 29
THE COURT:
Okay.
Thank you.
Attorney Claiborn, |\n| |\n| is there anything that you'd like to say to the Court on |\n| this issue? |\n| MS. CLAIBORN:
No, Your Honor. |\n| THE COURT:
Okay.
Well, I understand, Trustee |\n| Despins, what you're proposing, and I -- the time frames |\n| that you've laid out appear to be fine. |\n| Again, as I stated, you'll have to, in your |\n| motion, you know, seek relief from following the processes |\n| under our local rules, and you'll have -- you know, you'll |\n| address those things but you'll need to do that and you'll |\n| need to be prepared to have, you know, evidence submitted at |\n| the sale hearing so that the Court can determine that all |\n| the procedural and substantive issues have been properly |\n| addressed. |\n| I don't think there's anything else that we can |\n| talk about with regard -- I have other things to talk to you |\n| about today, but not with regard to the Lady May and the |\n| proposed sale.
So unless anyone else wishes to be heard |\n| about the Lady May the proposed sale, then I do have a few |\n| things that I wanted to talk about. |\n| Okay.
Hearing nothing, then I received yesterday, |\n| I believe, the-- now I'm turning completely to the AIG |\n| Adversary proceeding, okay?
And I received -- or I was |\n| forwarded, which was appropriate, an email from Attorney |\n| |\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 30 of 41\n\n| | Ho Wan Kwok - May 23, 2023
30 |\n|----|----------------------------------------------------------------|\n| 1 | O'Connor, that says that AIG is voluntarily extending the |\n| 2 | cancellation date to the end -- of that insurance policy to |\n| 3 | the end of June, and that there's going to be some informal |\n| 4 | discovery conducted, and that AIG will file its opposition |\n| 5 | to the preliminary injunction motion by May 31st, and that |\n| 6 | Genever will file its reply by June 6th, and both parties |\n| 7 | will file their witness lists and exhibits by June 13th. |\n| 8 | And then it said Genever has a preference for June |\n| 9 | 20 or 21st on -- based on the -- excuse me, I'm sorry -- on |\n| 10 | the availability of counsel for a hearing.
Unfortunately, |\n| 11 | the Court is not available on June 20 or 21st.
Those dates |\n| 12 | do not work.
So we need to figure out when we could have a |\n| 13 | hearing before the expiration of the policy. |\n| 14 | So I'm going to need you, Trustee Despins, to have |\n| 15 | some discussions with Attorney O'Connor, because I can't -- |\n| 16 | we don't have the availability.
We just don't.
There are |\n| 17 | scheduling conflicts throughout the month of June. |\n| 18 | It is possible that -- and Attorney Claiborn is in |\n| 19 | the courtroom right now, and I had alerted her this morning |\n| 20 | that there might be -- something that she has scheduled on |\n| 21 | the 28th and 29th of June might need to be continued if we |\n| 22 | have that preliminary injunction hearing in the AIG |\n| 23 | adversary proceeding on the 28th and 29th of June. |\n| 24 | But you'll have to contact him, Trustee Despins, |\n| 25 | and find out whether or not -- I don't even know if that |\n| | |\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 31 of 41\n\n| | Ho Wan Kwok - May 23, 2023
31 |\n|----|------------------------------------------------------------------|\n| 1 | works for you, but if it doesn't, then we're into July and |\n| 2 | then you've got an issue of, will they consent to a further |\n| 3 | extension of time before they believe -- they assert that |\n| 4 | the policy is canceled.
I don't know.
But -- so I need you |\n| 5 | to have that discussion and then someone get back to us |\n| 6 | through the courtroom deputy box as soon as you can so that |\n| 7 | I can schedule things.
Okay? |\n| 8 | MR. DESPINS:
Yes, Your Honor.
So just to be |\n| 9 | clear, you're not available in the week before the 19th, |\n| 10 | like from the 12th or the 16th? |\n| 11 | THE COURT:
The 14th, and 15th, and 16th, I am not |\n| 12 | available, and the 20th, 21st, and 22nd, I am not available. |\n| 13 | MR. DESPINS:
And the 19th? |\n| 14 | THE COURT:
That's a Monday. |\n| 15 | MR. DESPINS:
Oh, you have your regular docket. |\n| 16 | THE COURT:
And we're closed, because that's a |\n| 17 | federal holiday.
That's Juneteenth. |\n| 18 | MR. DESPINS:
Okay.
Oh, yes.
Of course.
Okay. |\n| 19 | So we really have to move this to July.
Okay.
Let me -- |\n| 20 | let me come back to Your Honor on this.
Thank you. |\n| 21 | THE COURT:
Thank you.
It just is what it is.
We |\n| 22 | have things scheduled that -- and/or that I have to be |\n| 23 | places that I have no control over, and it's not for a |\n| 24 | wedding or anything fun like that, so that -- so I don't |\n| 25 | have a lot of availability in June, unfortunately. |\n| | |\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 32 of 41\n\n| | Ho Wan Kwok - May 23, 2023
32 |\n|----|---------------------------------------------------------------|\n| 1 | MR. DESPINS:
Understood. |\n| 2 | THE COURT:
At the early part, it's better, but |\n| 3 | that's not going to work for you because you won't even have |\n| 4 | -- you and Attorney O'Connor wont even have addressed your |\n| 5 | discovery issues at that point.
So that's the first issue. |\n| 6 | Then there is, I believe, some pending 2004 |\n| 7 | examination motions and objections that haven't been |\n| 8 | scheduled yet for a hearing, and I think there's a couple of |\n| 9 | motions still outstanding, a motion to seal and a motion to |\n| 10 | compel compliance with other 2004 issues.
I don't know |\n| 11 | where that stands. |\n| 12 | And then also in HK v. Despins, 22-5003, there was |\n| 13 | -- as you know, there have been orders granting partial |\n| 14 | summary judgment on the first and second counterclaims, but |\n| 15 | I don't know where we're going from there.
Are we |\n| 16 | scheduling a pretrial conference?
There's -- to see where |\n| 17 | we are with regard to the remaining counterclaims or -- I |\n| 18 | don't know, but we already have something scheduled on July |\n| 19 | 18th on another adversary, I think it is.
Let me take a |\n| 20 | look. |\n| 21 | Yes, in Despins v. Mei Guo, et al, 23-5008, |\n| 22 | there's a pretrial conference set at 1:30 on July 18th, and |\n| 23 | then in -- then -- and there is a pretrial conference -- the |\n| 24 | original pretrial conference that would be -- would have |\n| 25 | been set by the clerk's office in the ordinary course of |\n| | |\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 33 of 41\n\n| | Ho Wan Kwok - May 23, 2023
33 |\n|----|--------------------------------------------------------------|\n| 1 | business in the Genever v. AIG adversary, which may or may |\n| 2 | not be necessary depending upon what happens with the |\n| 3 | preliminary injunction hearing and ruling.
So those are |\n| 4 | what I see as outstanding issues. |\n| 5 | MR. DESPINS:
The we need to -- I mean, Mr. Linsey |\n| 6 | is handling some of the 2004, but on the adversary |\n| 7 | proceeding that includes our counterclaims against HK and |\n| 8 | Mei Guo, I think it's okay to move that pretrial to July |\n| 9 | 18th, because as Your Honor pointed out in your decision |\n| 10 | last week, you know, clearly there is an appeal pending, but |\n| 11 | the more appeals pending -- and the other counts should |\n| 12 | probably be dormant until those are resolved, but -- and |\n| 13 | again, I am speaking out turn here because I need to talk to |\n| 14 | my colleagues, but I believe that moving that pretrial to |\n| 15 | July 18th would be fine, but Mr. Linsey, I'm assuming is |\n| 16 | handling some of the 2004 that you eluded to. |\n| 17 | THE COURT:
Okay. |\n| 18 | MR. LINSEY:
As far as the 2004 motion goes, Your |\n| 19 | Honor, there are objections from (indiscernible)and from the |\n| 20 | debtor.
I was involved in the meet and confers yesterday |\n| 21 | regarding those objections. |\n| 22 | I don't want to argue those, the merits, or really |\n| 23 | get too much into it because counsel aren't on, but I can |\n| 24 | say I'm comfortable that Your Honor is familiar and has |\n| 25 | dealt with the issue before, that is raised in those papers, |\n| | |\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 34 of 41\n\nHo Wan Kwok - May 23, 2023 34 and we would like to get Your Honor's ruling on that motion resolved as soon as we can so as not to delay progress in the estate. I don't anticipate that matter -- those objections to the 2004 motion being substantially time consuming. I know that we had dates on -- for various matters on May 30th, and I believe again on June 6th. I would be prepared to go forward with those on May 30th, Your Honor. THE COURT: I don't think we will be prepared to go forward with those matters on the 30th, though, so it may be June 6th. MR. LIEBMAN: Understood, Your Honor. THE COURT: Then what about the motion to compel compliance and a motion to stay that have been -- I mean, sealed, that have been out there? MR. LIEBMAN: As far as compliance is -- with respect to UBS, I am engaging in sort of day-by-day negotiations with UBS, and we have hit some points of disagreement. What I told UBS's counsel, and actually I told her this yesterday, is that we think that June 6th is time enough to figure out whether we can move forward cooperatively with a communications production, search procedure, and package, or whether we need the Court's intervention and not my -- the estate's intention, or that\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 35 of 41\n\nHo Wan Kwok - May 23, 2023 35 there is not at least a framework of an understanding with UBS that we're going to file something next week, whether that's in the form of a sort of a supplemental memorandum with respect to the pending cross-motion to compel, or whether that's an amended cross-motion to compel. We will file something next week so that the Court has some -- has the benefit of a document that lets the Court know exactly where things stand, rather than looking at papers that are several months old when we move into a hearing on June 6th. But the estate believe the UBS discovery is important (indiscernible). THE COURT: I lost you, Mr. Linsey. We can't hear you. Can they not hear us? THE CLERK: I don't know what -- THE COURT: They can't hear us. Hold on. Everybody stop. Stop. THE CLERK: That's weird. THE COURT: Stop. Stop. We can't hear you. We can't hear you. Hold on. (Pause) THE COURT: I'm going to say something. Mr. Linsey, can you hear me? Nope, he can't hear. (Off the record 1:38 p.m. to 2:04 p.m.) MR. DESPINS: And what was the -- what was the\n\nHo Wan Kwok - May 23, 2023 36 question? We're ready to proceed on that at the Court's earliest convenience. THE COURT: So that needs to be scheduled for a hearing is what I'm asking. MR. DESPINS: Correct, Your Honor. THE COURT: Okay. And then there's a motion to seal that's out there. We'll take a look at that too, and probably the 2004 examination issues that we talked about before the connection was lost, and now the motion to compel compliance on the latest 2004 issues regarding G-Club and others, and the motion to seal will likely all get set the same date and time, and that may be June 6th. We'll take a look at that after we're done here today. Okay? MR. DESPINS: Yes, Your Honor. MR. LIEBMAN: Thank you, Your Honor. THE COURT: All right. Let me make sure there isn't anything I'm -- I have forgotten to ask you about, but I think that I am okay. Yeah, I think that is it. Those are the things that I wanted to ask while we were in this status conference. Is there anything else anyone would like to add for the record today before we conclude the status conference? MR. DESPINS: Your Honor, Your Honor. Very Case 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 36 of 41\n\nHo Wan Kwok - May 23, 2023 37 briefly and this goes under the rubric of nothing is easy in this case. Your Honor entered a decision on Count 2 of the -- on our summary judgment, Count 2 of the counterclaims, and the order was pretty precise in terms of the experts on the Kwok estate as to the funds, et cetera, but those funds are held by an escrow agent and -- THE COURT: Yes, we know. MR. DESPINS: -- I'm quoting them now and basically they're saying, well, we're like -- we're like a machine. We don't think. You need to point us to provisions of the escrow agreement that allows us to turn this over to you. And of course we tell them, then -- well, there's a court order that says that we need to do that, and they're looking in that. So the point to this, Your Honor, is that we may be back in front of Your Honor to get the escrow agent to transfer the money to us. Obviously, from their point of view, they're not in law. They don't want any exposure. This could be resolved by a joint letter, by us and by HK International or only HK International, so we'll reach out to them. To be fair, we have not reached out to them yet, but -- so that issue is percolating in the background and -- THE COURT: Well, it's not -- Case 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 37 of 41\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 38 of 41\n\n| | Ho Wan Kwok - May 23, 2023
38 |\n|----|--------------------------------------------------------------|\n| 1 | MR. DESPINS:
-- I understand from -- |\n| 2 | THE COURT:
-- as though we didn't think about |\n| 3 | that issue when the decision was being issued, but there was |\n| 4 | nothing in any of the papers submitted that talked about |\n| 5 | directing the escrow agent to do -- specifically to do |\n| 6 | anything or be served with any of these issues, because we |\n| 7 | didn't know -- I don't know what this communications, if |\n| 8 | any, were had with the escrow agent. |\n| 9 | And so it's not in that order purposefully, |\n| 10 | because there was nothing that I saw in any of the papers |\n| 11 | that would have either specified specific sections of the |\n| 12 | escrow agreement, or that had the escrow agent under -- |\n| 13 | aware that there was -- I have no idea if they know even |\n| 14 | about this adversary proceeding. |\n| 15 | MR. DESPINS:
They know now, but the point is that |\n| 16 | the order clearly says the escrow funds belong to the estate |\n| 17 | -- |\n| 18 | THE COURT:
I agree. |\n| 19 | MR. DESPINS:
-- so if there's a plumbing issue -- |\n| 20 | I understand that there's plumbing that needs to be -- to be |\n| 21 | dealt with, so we hopefully -- |\n| 22 | THE COURT:
Right.
And I didn't think I should be |\n| 23 | the plumber, so I -- |\n| 24 | MR. DESPINS:
Correct.
Understood. |\n| 25 | THE COURT:
-- we didn't put that in, because I |\n| | |\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 39 of 41\n\n| | Ho Wan Kwok - May 23, 2023
39 |\n|----|----------------------------------------------------------------|\n| 1 | had no idea what discussions, if any, you might -- all of |\n| 2 | you might be having with the escrow agent.
I have no -- I |\n| 3 | had no idea and so I was not going to put anything in that |\n| 4 | could impede or -- you know, any discussions or negatively |\n| 5 | impact any discussions.
So I understand what your point is, |\n| 6 | though, clearly. |\n| 7 | MR. DESPINS:
Yeah. |\n| 8 | THE COURT:
And we'll see what happens whenever |\n| 9 | whatever happens, happens, and you'll let the Court know. |\n| 10 | But I agree that the order -- |\n| 11 | MR. DESPINS:
Will do. |\n| 12 | THE COURT:
-- clearly states that the escrowed |\n| 13 | funds are property of the Chapter 11 estate of the |\n| 14 | individual debtor. |\n| 15 | MR. DESPINS:
Okay.
Thank you, Your Honor. |\n| 16 | That's all we have for today. |\n| 17 | THE COURT:
Okay.
Thank you all, then, and -- |\n| 18 | MR. DESPINS:
Thank you. |\n| 19 | THE COURT:
-- we'll issue -- I'm sure there will |\n| 20 | be a few -- there will probably be an order scheduling that |\n| 21 | pretrial conference in the HK USA v. Despins adversary |\n| 22 | proceeding for July 18, and then we'll look to schedule |\n| 23 | hearings on the other matters we discussed regarding the |\n| 24 | discovery this afternoon.
Okay? |\n| 25 | MR. DESPINS:
Your Honor, just one last thing.
I |\n| | |\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 40 of 41\n\nHo Wan Kwok - May 23, 2023 40 apologize. The hearing tomorrow on AIG, could we keep that as a Zoom for scheduling purposes only so that -- that facilitates the -- everyone can get on the -- THE COURT: Yes. MR. DESPINS: -- line and then we can talk about -- -okay. THE COURT: Yes, so -- MR. DESPINS: So therefore -- THE COURT: -- I think it's scheduled -- MR. DESPINS: -- it should go forward -- THE COURT: -- it's scheduled at 10:00 tomorrow, correct? MR. DESPINS: Correct. But it needs to be turned into a Zoom hearing. THE COURT: Yes. We'll -- we will -- we will do that. I just want you to know, we've got another matter at 11:00, because I knew you weren't going forward with the preliminary injunction hearing, so I would ask you to -- MR. DESPINS: Yeah. THE COURT: -- talk to Attorney O'Connor and let both of you -- both of you be aware that we've got another conference at 11:00 a.m. MR. DESPINS: Yes. And hopefully one hour will be more than enough for us to figure out scheduling issues, but one never knows.\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 41 of 41\n\nHo Wan Kwok - May 23, 2023 41 THE COURT: Maybe it will only be -- MR. DESPINS: Thank you, Your Honor. THE COURT: -- maybe it will only be three minutes because you'll have already figured them out. MR. DESPINS: Right. Okay. Thank you, Your Honor. THE COURT: Okay. All right. Thank you. Then that is the last matter on the calendar today, so court is adjourned. MR. DESPINS: Thank you. UNIDENTIFIED SPEAKER: Thank you, Your Honor. THE COURT: Thank you. (Proceedings concluded at 2:10 p.m.) I, CHRISTINE FIORE, court-approved transcriber and certified electronic reporter and transcriber, certify that the foregoing is a correct transcript from the official electronic sound recording of the proceedings in the above-entitled matter. 22 May 30, 2023 23 Christine Fiore, CERT","body_zh":"美国康涅狄格州联邦破产法院\n布里奇波特分院\n\n关于 \\* 案件编号 22-50073 (JAM)\n\\*\nHO WAN KWOK（郭文贵）及 GENEVER HOLDINGS CORPORATION（Genever控股公司）， \\*\n\\* 康涅狄格州布里奇波特\n\\* May 23, 2023\n债务人。 \\*\n\\*\n\\*\n\\*\n\\*\n\\*\n\\*\n\\*\n\\*\n\\*\n\\*\n\\*\n\\*\n\\*\n\\*\n\\*\n\\*\n\\*\n\n在尊敬的 JULIE A. MANNING（朱莉·A·曼宁）\n美国联邦破产法官面前举行的\n状态会议记录\n\n出庭人员：\n\n破产法第11章受托人：\nLUC A. DESPINS（吕克·A·德斯平斯），律师\nPaul Hastings（保罗·黑斯廷斯律师事务所）\n200 Park Avenue\nNew York, NY 10166\n\n代表破产法第11章受托人：\nG. ALEXANDER BONGARTZ（G. 亚历山大·邦加茨），律师\nPaul Hastings LLP（保罗·黑斯廷斯律师事务所）\n200 Park Avenue\nNew York, NY 10166\n\nPATRICK R. LINSEY（帕特里克·R·林赛），律师\nNeubert Pepe & Monteith, PC（纽伯特、佩佩及蒙蒂斯律师事务所）\n195 Church Street\nNew Haven, CT 06510\n\n代表美国受托人：\nHOLLEY L. CLAIBORN（霍莉·L·克莱伯恩），律师\nOffice of the United States Trustee（美国受托人办公室）\nThe Giaimo Federal Building\n150 Court Street, Room 302\nNew Haven, CT 06510\n\n庭审程序通过电子录音记录，记录文本由转录服务机构制作。\nFiore Reporting and Transcription Service, Inc.（菲奥雷记录及转录服务公司）\n4 Research Drive, Suite 402\nShelton, Connecticut 06484\n(203)929-9992\n\n出庭人员：（续）\n\n代表债权人 Pacific Alliance Asia Opportunity Fund L.P.（太平洋联盟亚洲机会基金有限合伙企业）：\nSTUART SARNOFF（斯图尔特·萨诺夫），律师\nMIA GONZALEZ（米娅·冈萨雷斯），律师\nO'Melveny & Myers LLP（奥麦文尼及迈尔斯律师事务所）\nTimes Square Tower\n7 Times Square\nNew York, NY 10036\n\nPATRICK M. BIRNEY（帕特里克·M·伯尼），律师\nRobinson & Cole（罗宾逊及科尔律师事务所）\n28 Trumbull Street\nHartford, CT 06103\n\n代表 HK International Funds Investments, LLC（香港国际基金投资有限责任公司）及 Mei Guo（郭美）：\nSAM DELLA FERA, JR.（小萨姆·德拉费拉），律师\nChiesa Shanhinian & Giantomasi, P.C.（基耶萨、沙欣尼安及詹托马西律师事务所）\n105 Eisenhower Parkway\nRoseland, NJ 07068\n\n代表债权人委员会：\nIRVE GOLDMAN（欧文·戈德曼），律师\nPullman & Comley（普尔曼及康利律师事务所）\n850 Main Street\nBridgeport, CT 06601\n\n案件 22-50073 文件 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 第 3 页，共 41 页\n\nHo Wan Kwok（郭文贵）— May 23, 2023 3\n\n（程序于下午1:02开始。）\n\n书记员：案件编号 22-50073，Ho Wan Kwok（郭文贵）及 Genever Holdings, LLC（Genever控股有限责任公司）。\n\n法庭：下午好。请各方为记录目的出庭陈述，先请破产法第11章受托人？\n\nDESPINS先生：下午好，法官阁下。Luc Despins（吕克·德斯平斯），破产法第11章受托人。\n\nLINSEY先生：下午好，法官阁下。Patrick Linsey（帕特里克·林赛），代表受托人。\n\nSARNOFF先生：下午好，法官阁下。Stuart Sarnoff（斯图尔特·萨诺夫），O'Melveny & Meyers（奥麦文尼及迈尔斯律师事务所），代表债权人PAX。\n\nGONZALEZ女士：Mia Gonzalez（米娅·冈萨雷斯），O'Melveny & Myers（奥麦文尼及迈尔斯律师事务所），代表PAX。\n\nBIRNEY先生：Patrick Birney（帕特里克·伯尼），Robinson & Cole（罗宾逊及科尔律师事务所），代表PAX。\n\nGOLDMAN先生：下午好，法官阁下。Irve Goldman（欧文·戈德曼），Pullman and Comley（普尔曼及康利律师事务所），代表债权人委员会。\n\nDELLA FERA先生：下午好，法官阁下。Sam Della Fera（萨姆·德拉费拉），Chiesa Shanhinian & Giantomasi（基耶萨、沙欣尼安及詹托马西律师事务所），代表Mei Guo（郭美）及香港——HK International Funds Investments USA Limited, LLC（香港国际基金投资美国有限责任公司）。\n\nCLAIBORN女士：下午好，法官阁下。Holley Claiborn（霍莉·克莱伯恩），代表美国受托人。\n\n法庭：下午好。那么，所有人都在\n\n案件 22-50073 文件 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 第 4 页，共 41 页\n\nHo Wan Kwok（郭文贵）— May 23, 2023\n\n远程听证会上——Claiborn律师在法庭内。\n\n她今天因其他事项到庭，因此仅供各位知悉，我想各位大概可以看到她；但无论如何，Claiborn律师在法庭内。\n\n好的。Despins受托人，您请求召开本次状态会议，涉及可能的——\n\nDESPINS先生：是的，法官阁下。\n\n法庭：——出售Lady May，请继续。\n\nDESPINS先生：首先，非常感谢法官阁下允许在如此短的通知期限内召开本次状态会议。\n\n我将尽量较快地说明这些要点，并且我要说明——为明确起见，仅涉及Lady May，不涉及Lady May II。Lady May II正在准备，我想是为了下水。其维修缺少一个部件。该部件应于下周完成。因此，我们仅讨论Lady May。\n\n如法官阁下所知，我们已将Lady May移至Newport（纽波特）。事实上，它最初位于常规区域，但于May 17th被转移至自由贸易区，并仍停泊在那里。\n\n关于出售程序，法官阁下会记得，您已批准聘用Edmonson（埃德蒙森）担任经纪人，而该经纪人已采取多项——这在演示文稿第2页。实际上，法官阁下，我想确认一下——我们能把这个显示出来吗？我们是否能够控制——我们需要控制权。Bongartz先生需要获得屏幕控制权，法官阁下，这样我们就可以显示那些幻灯片，如果可能的话。\n\n法庭：好的。请稍候。\n\nDESPINS先生：谢谢。\n\n法庭：我们正在处理。\n\nDESPINS先生：此外，大约一小时前，我们也已将这些材料发送给法庭书记员助理。电话参会的人员均持有该演示文稿的副本。\n\n法庭：好的。目前尚未加载，律师——Despins受托人，请稍候，我们看看能做什么。\n\nDESPINS先生：好的。\n\n法庭：那么Bongartz律师呢？如果我们给他控制权——\n\nDESPINS先生：是的，如果您可以这样做。\n\n法庭：——他能否共享其屏幕？\n\n（暂停）\n\nDESPINS先生：如果给予他屏幕控制权，Bongartz先生已准备好展示。\n\n法庭：我们可以——我们可以这样做吗？\n\n案件 22-50073 文件 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 第 6 页，共 41 页\n\nHo Wan Kwok（郭文贵）— May 23, 2023\n\n法庭：好的。请稍候。我们应能给予Bongartz律师控制权。\n\n（暂停）\n\n法庭：我想如果我们——我想我现在已经给了Bongartz律师一些——\n\nDESPINS先生：我想我们已经可以了。\n\n法庭：我弄好了。是的。我做到了。\n\nDESPINS先生：我们已经可以了，法官阁下。\n\n法庭：我让他共享屏幕了。好的。已经处理好了。\n\nDESPINS先生：好的。很好。好的。法官阁下，为中断致歉。\n\n那么，我们现在看演示文稿第2页，讨论第2项，出售程序。Edmonson已采取多项——已采取多项措施来营销Lady May，通过电子邮件和其他沟通方式联系了所有经纪人、游艇经纪人。还在YACTCO上列出了Lady May。YATCO实际上相当于房地产的多重上市系统，但它是针对豪华游艇的，因此该游艇已在该平台发布。还有一份Lady May的电子宣传册，其中包括照片和规格说明，已向世界各地的经纪人广泛发送。\n\n截至目前，法官阁下，我们已收到来自潜在买方的五份正式要约，其中包括美国居民和非美国居民。已向潜在买方或其经纪人多次展示Lady May，而我们——我想说，我们对这五份要约提出了反要约，但是——转至第3页，我们需要一个催化剂，意思是这五位竞买人知道还有其他竞买人。有些人已提高报价，但在我们看来尚不充分，我们需要一个催化剂，促使人们实质上拿出其最终和最佳报价。\n\n我知道，法官阁下，在康涅狄格州，贵院有一套非常详尽的规则规范破产案件中资产的出售；我一开始就知道，而且Linsey先生和Goldman先生都曾提醒我，我们并未遵守所有这些规则。\n\n我们现在并未请求救济，但本次状态会议的目的当然是让法官阁下了解情况，以便我们不会朝着您认为不可接受的方向推进。\n\n所以我一开始就说，我们所提议的既不是单一私下出售，也不是完全公开出售。这是一种混合方式。如我所言，我们需要一个催化剂，迫使人们提出其最佳报价。\n\n在与经纪人进行广泛讨论后，得出的结论是，这五位竞买人积极性很高。他们目前并未提供我们希望得到的价格。正如我此前在法庭上所说，总会存在那种——或者说，破产出售，因此价格会打折；我们希望在力所能及的范围内予以抵消。\n\n案件 22-50073 文件 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 第 8 页，共 41 页\n\nHo Wan Kwok（郭文贵）— May 23, 2023 8\n\n但这五位竞买人不会为了一个不太恰当的说法而一直等待——在无限期的时间内等待。\n\n他们需要看到通往最终程序的路径，而这正是我们想向他们提供的。经纪人确实认为我们需要迅速行动。所谓迅速，是指要求他们以及世界其他人——我将说明我们将如何处理——在May 30th，即下周二下午5:00之前提出最终和最佳报价。\n\n但我们希望向竞买人提供指引，以免我们在后来证明是虚幻或不严肃的报价上浪费时间，因此我们提供了该页即第3页所列的指引，即只考虑超过20 million的要约，这也让法官阁下了解我们收到的要约所处的水平。\n\n竞买必须以受托人将向潜在竞买人或买方提供的前购买协议为基础。\n\n这非常重要，因为典型的游艇出售协议，法官阁下，允许买方在一个被称为——评估、审查程序即所谓检验完成之日之前，因任何理由改变主意。\n\n案件 22-50073 文件 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 第 9 页，共 41 页\n\nHo Wan Kwok（郭文贵）— May 23, 2023 9\n\n我想准确说明。依照惯常协议，作为买方，在检验进行期间，您可以因任何理由改变主意，例如我不再喜欢这个颜色之类。因此，并非只有在检验中发现问题时您才需要提出异议；您可以因任何理由改变主意。\n\n显然，从破产程序的角度看，这行不通；我们已向经纪人说明这一点。因此，我们将制定一份量身定制的协议，该协议基本上会规定：你们将签署协议，你们将受该协议约束，你们需要在June 1st前尽早缴纳20 percent的现金保证金。\n\n是的，会有检验。它被称为检验，但实际上更像房屋检查，法官阁下。通常需要三周，但我们将给予他们——实质上，我们将给予他们三周来完成检验。顺便说一句，为进行该项检查，该船需要被移出水面。\n\n在该检验期间，他们不得改变主意，除非结果表明——我现在随便举个例子——其中一台发动机有故障，他们\n\nHo Wan Kwok（郭文贵）—2023年5月23日 10 他们可能会举手说，不，我不会按我所出价的价格购买，因为存在那个问题。这就像买房一样。您知道，我相信法官阁下经历过这种情况。有两轮谈判：购房价格，以及验房谈判，在后者中，人们会发现各种各样的问题。我并不是说这里一定会如此，但事情的性质就是这样，我们希望对此得到保障；我稍后会向法官阁下解释我们将如何得到保障，但我们防范这一点的原因之一是，我们只能因检验中提出的问题而退出，而且他们必须将其记录在案；如果他们愿意，我们可以向他们购买该检验报告。通常而言——检验程序通常花费 $40,000，您可能会说，哇，你们资金紧张，为什么要花 $40,000？这可能是花费 $40,000，但这使我们能够拿着检验报告去找其他竞标人，并说，看，这就是——这就是问题，或者无论问题是什么。你们准备据此继续吗？这使我们能够在更换竞标人方面更快地调整，法官阁下；如果没有允许我们基本按成本取得检验报告的那项条款，我们就无法如此迅速地调整。因此，检验必须在以下日期前完成：\n\n案件 22-50073 文件 1832 于 05/30/23 提交 于 05/30/23 09:15:14 登记 第 11 页，共 41 页\n\nHo Wan Kwok（郭文贵）—2023年5月23日\n\n1 6月28日，而且——正如我所说，购买协议必须在6月9日前签署，所以时间非常紧迫。我曾留——我们在第4页留白，未填写交割何时进行，因为这确实并非完全、但部分取决于法官阁下，意思是我们在末尾写明的事项之一是，中标出价须经破产法院批准。我们都知道这意味着什么。这意味着在该听证会上，可能发生任何事情，包括提交额外出价。\n\n10 但关键是，我们需要了解，在我们有一项具有约束力的出价、检验已经完成等等的前提下，我们能够多快推进。\n\n13 意图是在检验仍在进行时提交批准该交易的动议，因为我们有能力转向另一位买方。\n\n16 基本上，如果第1号买方因某种原因未能履约，或者他夸大检验中发现的问题，我们将修改动议，说明我们以以下价格出售给第2号竞标人，诸如此类。\n\n21 因此，目的是启动程序，以便我们能够迅速调整，因为法官阁下知道，持有那艘船正使我们付出巨额成本。\n\n24 所以现在，您心中可能会问有关作出裁定的问题，存在所有这些程序——\n\n案件 22-50073 文件 1832 于 05/30/23 提交 于 05/30/23 09:15:14 登记 第 12 页，共 41 页\n\nHo Wan Kwok（郭文贵）—2023年5月23日\n\n1 以及诸如此类。我们没有一项法院命令批准这些程序。我要指出，法官阁下，我此前在破产程序中出售过许多资产，我知道，取得一项包含分手费、费用补偿以及整套保护措施的法院命令是常规做法。我理解这一点，法官阁下。\n\n7 但在与经纪人交谈后，结论是，我们会在这一程序中失去许多竞标人，意思是（听不清）来解释这一点，但这不是典型的买方、房地产、建筑物或公司。\n\n12 这些人非常富有，显然，如果你拥有那样一艘船，你就必须很有钱。他们没有兴趣与破产律师就所有这些条款进行谈判。\n\n16 因此，我认识到，法官阁下，这是一种混合程序；从技术上讲，在正常案件中，最好是通过一项临时竞标程序命令等涵盖所有完整保障措施，但在本案中，考虑到我们目前的处境、已有的兴趣，以及如果我们拖延程序便会失去今日感兴趣的竞标人的风险，在与经纪人进行了广泛讨论的基础上，我得出的结论是，最好以这种方式推进，尽管我们知道，这不是您的标准程序，法官——\n\n案件 22-50073 文件 1832 于 05/30/23 提交 于 05/30/23 09:15:14 登记 第 13 页，共 41 页\n\nHo Wan Kwok（郭文贵）—2023年5月23日 13 阁下。所以再说一遍，我没有已提交的动议。我这样做主要是因为这是一种混合程序。我认为这将使价值最大化，所以这就是陈述的内容，法官阁下。我相信我向您提出了许多新的问题和概念，但我们认为，第一，需要有一个催化因素，促使人们提出其最佳出价。第二，该催化因素必须很快发生，相当快，也就是说从今天起一周左右。并且请记住，这须经破产法院批准。因此，如果有人在听证会上出现并说，我愿为那艘船出价30 million，我相信 Goldman 先生（戈德曼）会站起来说，法官阁下，不要听受托人的，您应当批准那份其他出价。因此，关键在于，尽管我们不会有专门的竞标程序命令，但仍内置了一项失效保护。顺便说一下，我已经与 PAX 以及债权人委员会讨论过这个问题，因此他们可能也有看法。我不想抢在他们前面，但这就是——这就是我今天想说明的内容，法官阁下。\n\n法庭：好的。正如您正确指出的，我才刚刚了解到这一切，其中涉及许多问题，可能需要处理，也可能不需要处理。我不确定。但我确实有几个问题。\n\nDESPINS 先生（德斯平斯）：当然。\n\n法庭：当我看这份陈述时，您并未请求法庭就您计划于下周二所做的事情作出命令，即从您目前已有的这五名竞标人中取得最佳报价。这样说对吗？\n\nDESPINS 先生：是的，正确，但不仅是这五名竞标人，也是世界上其他所有人。是的。\n\n法庭：那么，我的问题是，对我而言，也许我错了，再说一遍，我确实还没有时间思考此事，但您真正试图做的，不就是获得一名领跑竞标人吗？通过让这五人给出其最佳报价，您随后会选定那个人，而那将会是——或者不论其为何，您知道，无论该竞标人是谁。除非有人以更高价格出价，否则那将是须经出售动议及批准的出价。这是您认为事情将如何发展吗？\n\nDESPINS 先生：是的，只是我不会将其描述为领跑竞标人。我会这样描述，您知道，附带其须经破产法院批准这一条件，而他们从一开始就知道这一点，他们理解——\n\n法庭：好的。\n\n案件 22-50073 文件 1832 于 05/30/23 提交 于 05/30/23 09:15:14 登记 第 15 页，共 41 页\n\nHo Wan Kwok（郭文贵）—2023年5月23日\n\n1 DESPINS 先生：——而且，但在——因此，经纪人会使不仅落选的四名竞标人，而且世界上的其他人，都知道这艘船将以什么价格出售，从而使世界上的任何人都可以进来做他们要做的事。\n\n6 但我不——这就是问题——我知道这听起来有点不透明，但——经纪人认为，我们去向他们解释——这个单一领跑竞标人的概念，不符合我们的利益，因为在那种情形下我们会失去他们。\n\n11 只要我们告诉他们拿出最佳表现，然后我们将接受最高出价、最高且最佳的出价，那么您完全正确，后续须经法院批准这一事实的后果就是其本来的后果，即始终存在其他人以更高价格出现的可能性。\n\n17 法庭：好的。那么让我问下一个问题。所以我并不——您并未请求法庭就您所提议的程序作出任何类型的命令，以取得您认为的最高且最佳出价，而该出价随后将成为出售动议的标的？\n\n23 DESPINS 先生：正确。\n\n24 法庭：好的。\n\n25 DESPINS 先生：那将会是——\n\n案件 22-50073 文件 1832 于 05/30/23 提交 于 05/30/23 09:15:14 登记 第 16 页，共 41 页\n\nHo Wan Kwok（郭文贵）—2023年5月23日 16 法庭：好的。\n\nDESPINS 先生：——之后提交出售动议。因此，是的。\n\n法庭：好的。然后——好的。我明白您的意思了。我——好的。那么随后提交出售动议，而您在该动议中说，ABC Company（ABC公司）已出价 $20 million 购买 Lady May（“Lady May”号）。受托人支持该出价，并将采取一切必要措施，使该出价成为成功出价，并使出售于X日期交割；但在该交割日期之前的Y日期，将举行听证会，以批准该出价，但须以受托人可能收到且被认定为游艇出售的更高或更优报价的任何其他出价为准。这是您所设想的吗？\n\nDESPINS 先生：实际上，是的，但我认为我不会——我只会说须经破产法院批准，这是隐含的。您所说的完全是隐含的。我有受托责任，在任何特定时点取得尽可能高的价格，而这可能会随时间推移而变化。但您是正确的，即——\n\n法庭：请继续。抱歉。\n\nDESPINS 先生：不。您正确的是，其实际含义是其他人可能会——\n\n案件 22-50073 文件 1832 于 05/30/23 提交 于 05/30/23 09:15:14 登记 第 17 页，共 41 页\n\nHo Wan Kwok（郭文贵）—2023年5月23日\n\n1 出现，而且只要这是一项真实出价，并且他们愿意，您知道，以相同条款和条件等等完成交割，如果其价格更高——顺便说一下，您说的是20。这是我们将会——\n\n5 法庭：不，我只是——\n\n6 DESPINS 先生：——同意的最低价格20——\n\n7 法庭：——举个例子。\n\n8 DESPINS 先生：是。是。是。是。是。\n\n9 法庭：我不是说那就是金额。我只是——\n\n11 DESPINS 先生：不。不。是。是。那么，是的，在那一点上，我认为如果我不朝那个方向推进，Goldman 先生会站起来说，法官阁下，我们需要推翻受托人在这里的商业判断，因为有一个更高的出价。\n\n16 法庭：好的。那么——\n\n17 DESPINS 先生：而且我认为您会准予该救济。\n\n19 法庭：那么让我们继续沿着这个思路讨论。那么，如果您认定为下周二之后针对游艇的最高且最佳报价、购买价格的出价，因任何原因未能交割，会怎样？\n\n23 那么假设他们进行检验并发现某些问题，他们可以退出。您是否具备条件——是否有另一名竞标人替代原来的五名竞标人，还是——\n\n案件 22-50073 文件 1832 于 05/30/23 提交 于 05/30/23 09:15:14 登记 第 18 页，共 41 页\n\nHo Wan Kwok（郭文贵）- May 23, 2023\n\n那么，您必须重新从头开始吗？\n\nDESPINS先生：嗯，严格来说，我没有一名有义务完成交易的备选竞买人，而这正是您所指的。我没有这样的备选竞买人，因为我必须通过某种费用来为此付费，而且我确实——而且，不仅是费用问题，还有我们刚才所说的那些复杂情况——会吓退这类竞买人。但是，法官阁下说得对。严格来说，我没有备选竞买人，但这就是我有权购买测量报告的原因，因为我不希望另一名竞买人采用一份新的测量报告，从而再花三到四周时间。我们希望能够灵活调整，并修改动议，说明我们将从竞买人X转向竞买人Y，而且我们也——我们已有20 percent的保证金，法官阁下。因此，如果他们未完成交易是因为他们只是改变主意，或者他们提出夸大或不存在的问题，20 percent——您知道，他们将没收其保证金，而法官阁下将对该合同及该合同的执行享有专属管辖权。这就是我们的保障。但您说得对——我知道这一点。通常您会有一名有义务完成交易的备选竞买人，但您需要为此向他们付款，然后第一顺位买方会说，\n\n案件 22-50073 文档 1832 于 05/30/23 提交 于 05/30/23 09:15:14 录入 第 19 页，共 41 页\n\nHo Wan Kwok（郭文贵）- May 23, 2023\n\n如果您有那个安排，那么如果我被\n\n出价超过，我就不会获得补偿。所以现在我们进入——\n\n法庭：我明白。\n\nDESPINS先生：——围绕three percent的各种可能安排——嗯，您明白。好的。抱歉。\n\n法庭：好的。我明白。好。那么，在现在至下周二期间，就您提出的计划而言，我不会作出任何命令。\n\nDESPINS先生：好的。\n\n法庭：那么，我假定您将在下周末之前就此提交一项动议——或许甚至，您知道，周三，我不知道——就以下事项——\n\nDESPINS先生：嗯，法官阁下，时间安排将会是，首先他们需要——我们需要签署一份合同，然后一旦他们签署合同并支付20 percent保证金，我们就会尽快提交动议。\n\n法庭：好的。然后——好的。那么，一旦您提交该动议，您是否希望就听证采取缩短程序？\n\nDESPINS先生：嗯，这是我们将其中一些日期留空的原因之一，因为——您知道，只是举例说明。假设一切顺利，我们在June 9th签署购买协议，那是周五——不，抱歉。那是周五——所以，两周。两周。\n\n案件 22-50073 文档 1832 于 05/30/23 提交 于 05/30/23 09:15:14 录入 第 20 页，共 41 页\n\nHo Wan Kwok（郭文贵）- May 23, 2023\n\n两周。我们将在周一12日提交出售动议，理论上，从那时起21天会到July 5th，因为July 4th假日。这是21天。我从经纪人那里得到的反馈是，这些人不需要融资。他们都拥有资金，而且急于完成交易，这一向是好事，绝不应失去这一优势。因此，如果我们能够稍微缩短该期限，不要缩短太多，因为如果有人因某种原因尚未听说此次出售——顺便说一下，这已被广泛宣传——但您知道，他们需要有机会尝试提出更高出价。因此，我们可能会寻求将异议期限定在30日而非5日。所以是缩短，但不是大幅缩短。\n\n法庭：好的。那么何时举行听证？如果您的异议期限是June 30th，您预计何时举行听证？\n\nDESPINS先生：或许在July 6th左右。\n\n法庭：好的。稍等一下。让我——好的。那看起来是可行的。我只是——让我再查一下另一个来源，然后——我问这个问题是因为我需要——您知道，June已经安排了很多事项。\n\nDESPINS先生：我知道。\n\n案件 22-50073 文档 1832 于 05/30/23 提交 于 05/30/23 09:15:14 录入 第 21 页，共 41 页\n\nHo Wan Kwok（郭文贵）- May 23, 2023\n\n法庭：所以我想确认——是的，July 6th肯定是可行的，前提是——假定按照您所列明的时间框架。然后那将是出售——那将是——那将是关于出售的听证，以批准出售并且——\n\nDESPINS先生：正确。\n\n法庭：然后您将在此后完成交易。\n\nDESPINS先生：正确，法官阁下。\n\n法庭：好的。因此，根据我们，您知道，地方法院规则，您将——您提议以不同于我们地方法院规则的方式提出动议，因此，您必须请求免除遵守地方法院规则以便如此办理，如果——并看看那是否可以接受，对吗？这是第一点。\n\n第二点，我们在本区所做的——您知道，许多其他区也这样做。假设您在June——在June 9th或前后提交这项批准出售的动议，而听证则假定安排在July 6th。\n\n我们所做的，但您可能需要与经纪人讨论和/或在此情形中告诉我们我们错了——而且再次强调，您需要获得豁免——是，您必须提交一份将在法院网站上发布的文件，显示这是一项待售资产，并且，您知道，列明其一般条款和条件及类似事项，因为我并不是说本案中会发生这种情况，但在许多其他案件中，虽然不是出售游艇，但在法院网站上发布该信息导致资产获得更高购买价格，信不信由你，因为我猜人们，您知道，在外面会查看法院网站上的资产出售信息。这是——您知道，这是他们所做的。因此，您必须在June 9th或前后提交动议的同时这样做，以便将其公开，提供另一种实质上的营销渠道；然后，这也将成为您在批准出售听证会上证据记录的一部分，以证明为取得该资产最高和最佳价格所采取的措施。我毫无头绪，而且我并不是建议您现在需要回答这个问题，但我只是告诉您，这通常是如何运作的，也是书记官办公室将如何处理。他们会说，哦，他们没有提交通知，这是一个缺陷。您知道，这可能会使程序停止——可能会使其放缓。因此，我提出这一点供您考虑，好吗？\n\nDESPINS先生：我们可以提交该通知，法官阁下。\n\n法庭：好的。然后，就您所列明的时间框架而言，您是否——您预计到下周二，您将会有某一项——根据您作为——凭借您的商业判断认定为最高和最佳的报价；然后您相信您将提交——您希望并相信您将提交——\n\n案件 22-50073 文档 1832 于 05/30/23 提交 于 05/30/23 09:15:14 录入 第 23 页，共 41 页\n\nHo Wan Kwok（郭文贵）- May 23, 2023\n\n一项根据Section 363批准出售的动议。现在我毫无头绪，但我的意思是，我有一个想法，但是否——是否有人——我相信您已经这样做了，但该财产上没有留置权，对吗？\n\nDESPINS先生：没有，法官阁下。\n\n法庭：甚至没有，例如——甚至没有，您知道，关于任何未付泊位费或类似事项的海事留置权？\n\nDESPINS先生：我本应回答，没有已知留置权。因此我们将——\n\n法庭：对。\n\nDESPINS先生：——我们将核查此事。\n\n法庭：对。因为显然——\n\nDESPINS先生：但无论如何，留置权将附着于出售所得款项，因此我认为那不会阻止出售。\n\n法庭：没错。但存在通知问题，对吗？通知并向那些如果拥有留置权的人送达，对吗？\n\nDESPINS先生：是的。是的，法官阁下。\n\n法庭：您可能需要这样做——因为如果您需要说明每个人都已获送达，他们获得了适当送达，他们有机会提出异议，如果他们对该财产拥有权益，他们知道所有这些事项，对吗？\n\nDESPINS先生：当然。\n\n案件 22-50073 文档 1832 于 05/30/23 提交 于 05/30/23 09:15:14 录入 第 24 页，共 41 页\n\nHo Wan Kwok（郭文贵）- May 23, 2023\n\n法庭：那么，还有谁——嗯，我不该说还有谁，因为您没有告诉我，所以我有点提前了。除了将在案件中提交并随后在法院网站上发布的通知外，显然您还必须让经纪人说明经纪人所做的任何事情，对吗，以营销该财产。这可能包括向并非本案当事方的人送达出售动议和/或相关文件，例如您未选择为最高和最佳报价的其他四名竞买人，但不仅仅是其他四名竞买人，对吗？我的意思是，您知道，可能有必要显示，无论经纪人以何种方式营销，该财产确实已向每一位可能有兴趣购买它的人公开。\n\n所以我只是——再次强调这一问题，因为预期的是，关于出售的陈述还将包括所有这些信息，因为您正请求法庭作出这些认定，对吗？因此，您请求法庭作出的每一项认定都必须有某些证据予以佐证。好吗？\n\nDESPINS先生：是，法官。\n\n法庭：因此，其中之一——只是将此事继续推演下去，然后我认为这是我目前最后一个问题。出售动议被提交，设定异议期限，设定听证日期，而交割日期在该听证日期之后。四名在May 30未被选中——其报价未被选中的竞买人之一来到法庭并表示，他们将——无条件，准备完成交易，接受竞买人——竞买人——原购买人所进行的测量报告，并希望提出更高出价——您知道，支付更高价格。在那个时间点我们怎么做？您是说，我只需根据当事人——法庭内所有人就此所说的内容，决定我是否允许这样做？\n\nDESPINS先生：是。我不想对此显得轻率，但我们对——对竞买人不负任何义务。Goldman先生（戈德曼先生）和我对财产负有义务，并负有使价值最大化的义务；我们必须根据该听证会上发生的情况调整我们的思路。如果——坦率地说，那将是一个令人乐见的问题，法官阁下，但那就是——\n\n法庭：我明——我同意这一点，但我至少想把它彻底想清楚。我看不出我会在——之前作出任何种类的命令。\n\nDESPINS先生：没有任何命令会排除这种情况，不会。\n\n案件 22-50073 文档 1832 于 05/30/23 提交 于 05/30/23 09:15:14 录入 第 25 页，共 41 页\n\n案件 22-50073 文档 1832 于 05/30/23 提交 于 05/30/23 09:15:14 录入 第 26 页，共 41 页\n\nHo Wan Kwok（郭文贵）- May 23, 2023\n\n法庭：——直至July——如果，例如，是July 6th，对吗？\n\nDESPINS先生：正确。\n\n法庭：因此，如果我不作出任何种类的命令，那么我看不出如何能阻止任何人前来并尝试以更高价格购买它。\n\nDESPINS先生：正确，法官阁下。\n\n法庭：好的。好。目前我没有其他问题，但我——这并不意味着在我听取其他人所要说的内容之后，我可能不会有问题，那么谁希望发言？\n\nGOLDMAN先生：下午好。我只是想补充Despins先生所陈述的内容。\n\n法庭：Goldman律师，您能否帮我一个忙，只需为记录说明您的姓名，因为我们正在——您知道，我们正在录音。而且，出于某种原因，您的声音有些含糊不清。我不知道您是否可以靠近一点麦克风。\n\nGOLDMAN先生：这样好一些吗，法官阁下？\n\n法庭：好一点。\n\nGOLDMAN先生：好的。我会靠近一些。Irve Goldman（欧文·戈德曼），Pullman Comley（普尔曼·康利律师事务所），代表债权人委员会。您知道，我只是想补充Despins先生所陈述的内容。他很愿意让我参与导致其所陈述内容的讨论和思考过程。\n\nHo Wan Kwok（郭文贵）- May 23, 2023 27，作为进行该资产出售的首选方式。我知道，我们都习惯于典型的分手费、出售程序命令，我认为其实际上服务于两个目的。其一是通过分手费保护最高出价人；其二是，您知道，就该资产确立一个利益基准，并激发其他人对该资产的兴趣。现在，从破产财产的角度来看，我们未必有兴趣保护买方，因此，分手费的该项目的显然不适用。至于其被用于激发他人兴趣这一点，就我迄今所听到的情况而言，由于该资产的独特性质以及其市场的独特性质，我至少在此时确信，他们就这一特定程序如何实现价值最大化所说的内容，确实将替代出售程序命令和分手费本应发挥的作用。因此，这就是委员会目前的思路。因此，在这一初步阶段，您知道，我们不反对他以其所提出的方式继续进行，而且——但是我们将——如法官阁下所说，您知道，我们将必须看看在出售听证会上证据如何呈现。但我只是希望法官阁下理解我们的思路。\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 28 of 41\n\nHo Wan Kwok（郭文贵）- May 23, 2023 28 法院：好的。谢谢。PAX（PAX）是否希望发表意见？萨诺夫先生：法官阁下，仅仅是——请原谅。我女儿的婚礼在这个周末举行，我的嗓子已经完全哑了，所以请见谅。我是代表债权人PAX的斯图尔特·萨诺夫（Stuart Sarnoff）。德斯潘斯先生（Mr. Despins）很好地如同他对戈德曼先生（Mr. Goldman）所做的那样，概略预先说明了他的想法；在此时，我们同意戈德曼先生的意见，即我们在这一阶段支持该方案。法院：好的。谢谢。即使您的嗓子哑了，我也希望您度过了愉快的时光；这大概意味着您确实度过了愉快的时光。萨诺夫先生：我可能玩得有点太尽兴了，但谢谢。非常感谢，法官阁下。法院：好的。很高兴听到这个消息。HK International（HK International）的律师是否希望发表意见？费拉先生：法官阁下，我是代表HK和郭女士（Ms. Guo）的萨姆·德拉·费拉（Sam Della Fera）。正如法院可能记得，我们保留了——我们保留了我们客户反对任何出售的权利，并且，您知道，我们准备在受托人所述动议提出时，对任何拟议出售作出回应。\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 29 of 41\n\nHo Wan Kwok（郭文贵）- May 23, 2023\n\n法院：好的。谢谢。克莱伯恩律师（Attorney Claiborn），就这一问题，您有什么想对法院说的吗？\n\n克莱伯恩女士：没有，法官阁下。\n\n法院：好的。那么，德斯潘斯受托人，我理解您的提议，而且我——您列出的时间安排看来没有问题。\n\n再次，如我所述，您必须在您的动议中，您知道，寻求免于遵循我们地方法规规定程序的救济；您将——您知道，处理这些事项，但您需要这样做，并且需要准备好在出售听证会上提交证据，以便法院能够确定所有程序性和实体性问题均已得到妥善处理。\n\n我认为，就Lady May和拟议出售而言，没有其他事项可供我们讨论——我今天还有其他事项要与各位讨论，但不是关于Lady May和拟议出售。\n\n因此，除非还有人希望就Lady May拟议出售发表意见，那么我确实有几件事想要讨论。\n\n好的。既然没有人发表意见，那么我相信，我昨天收到——现在我完全转到AIG对抗程序，好吗？\n\n我收到——或者有人转交给我，这样做是恰当的——奥康纳律师（Attorney O'Connor）的一封电子邮件，其中称，AIG（美国国际集团）自愿将该保险单的取消日期延长至6月底，并将进行一些非正式证据开示，而且AIG将于May 31st就初步禁令动议提交其反对意见，Genever（Genever）将于June 6th提交其答复，并且双方将于June 13th提交其证人名单和证物。\n\n然后，其中称，Genever基于——对不起，请原谅——律师出席听证会的可用时间，倾向于June 20 or 21st。不幸的是，法院在June 20 or 21st没有时间。这些日期不合适。因此，我们需要确定何时能够在保单到期前举行听证会。\n\n因此，德斯潘斯受托人，我需要您与奥康纳律师进行一些讨论，因为我无法——我们没有时间。确实没有。整个June都存在日程冲突。\n\n有可能——而且克莱伯恩律师现在就在法庭内，我今天早上已提醒她，如果我们于June 28th and 29th举行AIG对抗程序中的初步禁令听证会，她在June 28th and 29th安排的某件事项可能需要延期。\n\n但是，德斯潘斯受托人，您必须联系他，并确定——我甚至不知道这是否对您可行；但如果不可行，那么我们就要进入July，届时就会出现一个问题，即在他们认为——他们主张该保单已被取消之前，他们是否会同意进一步延长时间。我不知道。但是——因此，我需要您进行该项讨论，然后有人应尽快通过法庭书记员邮箱回复我们，以便我能够安排事项。好吗？\n\n德斯潘斯先生：是，法官阁下。因此，为明确起见，您在19th之前的一周没有时间，例如12th或16th吗？\n\n法院：14th、15th和16th，我没有时间；20th、21st和22nd，我没有时间。\n\n德斯潘斯先生：那么19th呢？\n\n法院：那是星期一。\n\n德斯潘斯先生：哦，您有常规案卷。\n\n法院：而且我们休庭，因为那是联邦假日。那是Juneteenth。\n\n德斯潘斯先生：好的。哦，是的。当然。好的。因此，我们确实必须将此事移至July。好的。让我——让我就此回复法官阁下。谢谢。\n\n法院：谢谢。事实就是如此。我们有已安排的事项——和/或我必须去的地方，而这些我无法控制；而且不是为了婚礼或诸如此类有趣的事情，所以——所以不幸的是，我在June没有太多可用时间。\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 32 of 41\n\nHo Wan Kwok（郭文贵）- May 23, 2023\n\n德斯潘斯先生：明白。\n\n法院：在月初，时间会更好一些，但那对您不适用，因为到那时，您和奥康纳律师甚至还没有处理您们的证据开示问题。因此，这是第一个问题。\n\n然后，我相信，还有一些尚未安排听证会的待决2004审查动议和异议，我认为还有几项动议仍未解决，一项密封动议和一项要求就其他2004事项强制遵从的动议。我不知道目前进展如何。\n\n此外，在HK v. Despins, 22-5003中——如您所知，已有裁定就第一项和第二项反诉作出部分简易判决，但我不知道我们接下来将如何进行。我们是否安排审前会议？是否——为了了解关于其余反诉的进展情况，还是——我不知道；但我认为，我们已在July 18th就另一宗对抗程序安排了一项事项。让我看一下。\n\n是的，在Despins v. Mei Guo, et al, 23-5008中，已安排于July 18th 1:30举行审前会议；然后，在——随后——在Genever v. AIG对抗程序中，有一项本应由书记员办公室在正常业务过程中安排的原定审前会议，但根据初步禁令听证会和裁定的结果，该会议可能需要，也可能不需要。因此，这些是我认为尚未解决的问题。\n\n德斯潘斯先生：那么我们需要——我的意思是，林赛先生（Mr. Linsey）正在处理部分2004事项；但就包括我们针对HK和郭女士反诉的对抗程序而言，我认为可以将该审前会议移至July 18th，因为正如法官阁下上周在裁定中指出的，您知道，显然已有上诉待决；但待决上诉越多——其他罪名项可能应当保持搁置状态，直到这些上诉得到解决。不过——再说一次，我在这里越权发言，因为我需要与我的同事讨论；但我相信，将该审前会议移至July 18th是可以的，不过，我假定林赛先生正在处理您刚才提到的部分2004事项。\n\n法院：好的。\n\n林赛先生：就2004动议而言，法官阁下，来自（听不清）和债务人的异议。我昨天参加了关于这些异议的会面协商。\n\n我不想就这些事项的实体问题进行辩论，或者确实过多深入讨论，因为律师没有在线；但我可以说，我相信法官阁下熟悉且此前处理过该问题，即这些文件中提出的问题，\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 34 of 41\n\nHo Wan Kwok（郭文贵）- May 23, 2023 34，并且我们希望尽快获得法官阁下对该动议的裁定，以免延误破产财产的进展。我预计该事项——对2004动议的这些异议不会实质性地耗费时间。我知道，我们已就May 30th的各项事项确定日期，我相信又是在June 6th。我将准备于May 30th继续处理这些事项，法官阁下。法院：不过，我认为我们不会准备好在30th处理这些事项，因此可能是June 6th。利布曼先生（Mr. Liebman）：明白，法官阁下。法院：那么，那项要求强制遵从的动议和一项已——我的意思是，已密封的中止动议呢？利布曼先生：就遵从而言——关于UBS（瑞银集团），我正在与UBS进行某种逐日谈判，并且我们已在一些问题上出现分歧。我告诉UBS的律师——实际上我昨天告诉她——我们认为，June 6th已经足以确定，我们能否通过合作方式推进通信文件的出示、检索程序和方案，或者我们是否需要法院介入；而不是我的——破产财产的意图，或者说\n\nCase 22-50073 Doc 1832 Filed 05/30/23 Entered 05/30/23 09:15:14 Page 35 of 41\n\nHo Wan Kwok（郭文贵）- May 23, 2023 35 至少目前并不存在与 UBS 达成的一项谅解框架，即我们将于下周提交某些文件，无论是就待决交叉强制动议提交某种补充备忘录，还是修正后的交叉强制动议。我们将于下周提交某些文件，以便法庭能够——能够受益于一份准确告知法庭目前事态进展的文件，而不是在我们于 June 6th 进行听证时查阅数月前的文书。但是，破产财产认为 UBS 的证据开示很重要（听不清）。法庭：我听不到您了，Linsey先生（林赛先生）。我们听不见您。难道他们听不见我们吗？书记员：我不知道怎么——法庭：他们听不见我们。稍等。所有人停下。停下。书记员：这很奇怪。法庭：停下。停下。我们听不见您。我们听不见您。稍等。（暂停）法庭：我要说句话。Linsey先生，您能听见我吗？不，他听不见。（非正式记录，1:38 p.m. 至 2:04 p.m.）DESPINS先生（德斯平斯先生）：那么，那个——那个\n\nHo Wan Kwok（郭文贵）- May 23, 2023 36 问题是什么？我们已准备好在法庭最早方便的时间就此继续进行。法庭：所以，我问的是，这需要安排举行听证会。DESPINS先生：是的，法官阁下。法庭：好的。另外，还有一项待决的密封动议。我们也会审阅该动议，以及在连接中断前我们讨论过的 2004 审查问题，现有关于 G-Club 及其他事项的最新 2004 问题的强制履行动议，以及密封动议，这些事项很可能都会安排在同一日期和时间审理，可能是 June 6th。今天结束后我们会审阅。好吗？DESPINS先生：是的，法官阁下。LIEBMAN先生（利布曼先生）：谢谢您，法官阁下。法庭：好的。让我确认一下是否有任何我——我忘记问你们的事项，不过我想我没问题。是的，我想就这些。这些是我想在本次案件状态会议期间询问的事项。在我们结束案件状态会议前，是否有人还想就今天的记录补充任何内容？DESPINS先生：法官阁下，法官阁下。非常\n\n案件 22-50073 文书 1832 于 05/30/23 提交 于 05/30/23 09:15:14 录入 第 36 页，共 41 页\n\nHo Wan Kwok（郭文贵）- May 23, 2023 37 简要地说，这归入本案没有任何事情是容易的这一类别。法官阁下就——就我们的简易判决动议中的反诉罪名项 2 作出了裁定，该命令就郭文贵破产财产的专家及相关资金等事项而言相当明确，但这些资金由一名托管代理人持有，而——法庭：是的，我们知道。DESPINS先生：——我现在引用他们的话，他们基本上是在说，好吧，我们就像——我们就像一台机器。我们不思考。您需要向我们指出托管协议中允许我们把这笔钱转交给你们的条款。当然，我们随后告诉他们——好吧，有一项法院命令称我们需要这样做，他们正在研究该命令。因此，法官阁下，关键在于，我们可能需要再次到您面前，请您命令托管代理人将这笔钱转给我们。显然，从他们的角度看，他们不懂法律。他们不希望承担任何风险。这可以通过我们与 HK International（香港国际）共同提交一封信函，或者仅由 HK International 提交一封信函来解决，所以我们会联系他们。公平地说，我们尚未联系他们，但是——所以该问题正在后台酝酿，而——法庭：嗯，这不是——\n\n案件 22-50073 文书 1832 于 05/30/23 提交 于 05/30/23 09:15:14 录入 第 37 页，共 41 页\n\n案件 22-50073 文书 1832 于 05/30/23 提交 于 05/30/23 09:15:14 录入 第 38 页，共 41 页\n\nHo Wan Kwok（郭文贵）- May 23, 2023\n\nDESPINS先生：——据我了解——\n\n法庭：——好像我们在作出裁定时没有考虑过该问题，但提交的任何文书中都没有谈到指示托管代理人——具体作出任何行动，或向其送达任何这些事项，因为我们不知道——我不知道是否曾与托管代理人进行过任何沟通。\n\n因此，该命令中有意未包括此项内容，因为我在任何文书中都没有看到以下内容：要么明确指出托管协议的具体条款，要么让托管代理人知悉——我完全不知道他们是否甚至知道这项对抗程序。\n\nDESPINS先生：他们现在知道了，但关键是，该命令明确指出托管资金属于破产财产——\n\n法庭：我同意。\n\nDESPINS先生：——因此，如果存在一个管道问题——我明白有些管道问题需要——需要处理，所以我们希望——\n\n法庭：对。而且我认为我不应当成为管道工，所以我——\n\nDESPINS先生：正确。明白。\n\n法庭：——我们没有将其写入，因为我\n\n案件 22-50073 文书 1832 于 05/30/23 提交 于 05/30/23 09:15:14 录入 第 39 页，共 41 页\n\nHo Wan Kwok（郭文贵）- May 23, 2023\n\n完全不知道你们可能——你们所有人可能正在与托管代理人进行何种讨论，如果有的话。我毫无——我当时毫不知情，因此我不会加入任何可能妨碍或——您知道，妨碍任何讨论，或对任何讨论产生负面影响的内容。不过，我清楚地理解您的意思。\n\nDESPINS先生：是的。\n\n法庭：无论发生什么，我们看看会怎样，您会告知法庭。但是，我同意，该命令——\n\nDESPINS先生：会的。\n\n法庭：——明确规定，托管资金是个人债务人的 Chapter 11 破产财产的财产。\n\nDESPINS先生：好的。谢谢您，法官阁下。我们今天的事项就这些。\n\n法庭：好的。那么，谢谢各位，还有——\n\nDESPINS先生：谢谢。\n\n法庭：——我们将发布——我相信会有几项——很可能会有一项命令，将 HK USA（美国HK） v. Despins（德斯平斯）对抗程序中的审前会议安排在 July 18，然后我们将安排就今天下午讨论的其他有关证据开示事项举行听证会。好吗？\n\nDESPINS先生：法官阁下，最后一件事。我\n\n案件 22-50073 文书 1832 于 05/30/23 提交 于 05/30/23 09:15:14 录入 第 40 页，共 41 页\n\nHo Wan Kwok（郭文贵）- May 23, 2023 40 很抱歉。明天关于 AIG 的听证会，我们能否仅为安排日程之目的将其保留为 Zoom，这样——这样便于——所有人都能上线——法庭：可以。DESPINS先生：——然后我们就可以讨论——好吧。法庭：可以，所以——DESPINS先生：所以因此——法庭：——我想它已安排——DESPINS先生：——它应当继续进行——法庭：——它安排在明天 10:00，对吗？DESPINS先生：对。但是需要改为 Zoom 听证会。法庭：可以。我们将——我们会——我们会这样做。我只想让您知道，我们在 11:00 还有另一项事项，因为我知道你们不会继续进行初步禁令听证会，所以我请求您——DESPINS先生：是。法庭：——与 Attorney O'Connor（奥康纳律师）谈谈，让你们双方——你们双方都知悉，我们在 11:00 a.m. 还有另一次会议。DESPINS先生：是。希望一小时足够我们解决日程安排问题，但谁也说不准。\n\n案件 22-50073 文书 1832 于 05/30/23 提交 于 05/30/23 09:15:14 录入 第 41 页，共 41 页\n\nHo Wan Kwok（郭文贵）- May 23, 2023 41 法庭：也许只会——DESPINS先生：谢谢您，法官阁下。法庭：——也许只需三分钟，因为你们已经解决了这些问题。DESPINS先生：对。好的。谢谢您，法官阁下。法庭：好的。好。谢谢。那么，这是今天日程表上的最后一项事项，现休庭。DESPINS先生：谢谢。身份不明的发言人：谢谢您，法官阁下。法庭：谢谢。（程序于 2:10 p.m. 结束）本人，CHRISTINE FIORE（克里斯廷·菲奥雷），经法院批准的听录员及经认证的电子记录员和听录员，证明上述内容系根据上述案件程序的官方电子录音制作的正确记录。\n\n22 May 30, 2023 23 Christine Fiore, CERT","key_entities":["Despins","Kwok","Ho Wan Kwok","Je","Guo","Paul Hastings","CIPA","Luc Despins"],"ecf_references":[],"word_count":11180,"status":"published","published_at":"2023-05-30 00:00:00","created_at":"2023-05-30","updated_at":"2026-08-23 21:03:00"}