{"id":"court_ctb_1885_4","court":"CTB","case_no":"22-50073","doc_number":1885,"sub_number":4,"doc_type":"ORDER","filed_date":"2023-05-26","title":"Exhibit D ![](_page_1_Picture_1.jpeg)","summary_zh":"托管代理人答复函（附件 D） —— Ho Wan Kwok 破产案（郭文贵 / Guo Wengui / Miles Guo），CTB 22-50073 ECF #1885-4（2023-05-26立案）。美国合众银行（U.S. Bank）法律顾问致函受托人 Luc Despins，指出因 HK USA 已就部分简易判决裁定提起上诉且受托人未提供不可上诉终审裁定证明，托管代理人依据协议暂停发放托管资金。","summary_en":"Escrow Agent Response Letter (Exhibit D) — In re Ho Wan Kwok (Miles Guo / Guo Wengui), CTB 22-50073 ECF #1885-4 (filed May 26, 2023). Counsel for U.S. Bank National Association sent a letter to Trustee Luc Despins stating that the escrow agent cannot disburse escrow funds to the Trustee because HK USA appealed the underlying partial summary judgment order and the request lacked the required certificate of a final, non-appealable order.","body_en":"## **Exhibit D**\n\n![](_page_1_Picture_1.jpeg)\n\nKimberly S. Cohen Phone: (860) 251-5804 KCohen@goodwin.com\n\nOne Constitution Plaza Hartford, CT 06103-1919\n\nMay 30, 2023\n\n**VIA E-MAIL**\n\nLuc A. Despins, Esq. lucdespins@paulhastings.com\n\n## RE: In re: Ho Wan Kwok; Requested Release of Funds under Escrow Agreement\n\nDear Mr. Despins:\n\nOur firm represents U.S. Bank National Association in connection with that certain Escrow Agreement (the \"Escrow Agreement\"), dated as of April 28, 2022, by and among HK International Funds Investments (USA) Limited, LLC (\"HK USA\"), the Official Committee of Unsecured Creditors (the \"Committee\") appointed in that certain bankruptcy case captioned *In re: Ho Wan Kwok*, Case No. 22-50073 (the \"Bankruptcy Case\") pending before the United States Bankruptcy Court for the District of Connecticut (the \"Bankruptcy Court\") and U.S. Bank National Association, as escrow agent (the \"Escrow Agent\"). We are in receipt of your letter, dated May 26, 2023 (the \"Paul Hastings Letter\"), sent in your capacity as the chapter 11 trustee (the \"Trustee\") in the Bankruptcy Case, which attaches that certain *Memorandum of Decision and Order Granting Motion for Partial Summary Judgment on Second Counterclaim* [Docket. 221] entered by the Bankruptcy Court on May 18, 2023 (the \"Order\"). The Escrow Agent is also in receipt of an email, dated May 26, 2023, from Stephen M. Kindseth, Esq. of Zeisler & Zeisler, P.C. as counsel to HK USA, to you, counsel to the Committee, and others and an email, dated as of May 29, 2023, from Aaron Romney, Esq. of Zeisler & Zeisler, P.C. to you, counsel to the Committee, and others (collectively, the \"Zeisler Emails\"). Copies of the Paul Hastings Letter and Zeisler Emails are attached hereto. Capitalized terms used but not defined herein shall have the meaning ascribed to them in the Escrow Agreement.\n\nAs you know, the Paul Hastings Letter refers to certain findings in the Order and requests that the Escrow Agent transfer the balance of the Escrow Funds to the Trustee's account. The Paul Hastings letter also indicates that the Committee consents to the requested release of funds.\n\nSection 4 of the Escrow Agreement provides for the delivery of Escrow Funds under a number of different circumstances. The Paul Hastings Letter, however, does not identify any\n\nMay 30, 2023 Page 2\n\nsection of the Escrow Agreement that would authorize the requested disbursement, and the request does not appear to comply with any of the enumerated distribution mechanisms in the Escrow Agreement. As you know, the Escrow Agent is not a financial stakeholder with respect to this matter and must act in accordance with the Escrow Agreement. Section 4(a)(ii) of the Escrow Agreement provides for the disbursement of funds in accordance with \"a final, nonappealable order entered by the Bankruptcy Court on or after July 16, 2022 directing delivery of the Escrow Funds, accompanied by a certificate executed by the Party requesting disbursement to the effect that such order of the Bankruptcy Court is a final, non-appealable order of the Bankruptcy Court.\" The Escrow Agent has not received a certificate of the requesting party required by this section and the Order does not appear to be final and non-appealable.\n\nThe Paul Hastings Letter and the Zeisler Emails contain contradictory statements as to the disposition of the Escrow Funds. It is apparent that a dispute exists regarding the disbursement of the Escrow Funds. Additionally, the Zeisler Emails provided that HK USA has filed a notice of appeal of the Order and that HK USA intends to file a motion for stay pending appeal promptly. Given the omission of the certificate required by the Escrow Agreement, as well as the evidence of an appeal of the pending Order and the parties' disagreement as to the disposition of the Escrow Funds, the Escrow Agent is unable to make payment of the funds at this time. Pursuant to the terms of the Escrow Agreement, including but not limited to Section 5, the Escrow Agent is entitled to suspend the performance of its obligations, including disbursement obligations, until disputes and uncertainty are resolved, as evidenced by one of the stated final court orders and certificates contemplated by the Escrow Agreement, and the Escrow Agent has concluded that, at this time, it is appropriate to suspend such performance.\n\nWe welcome a dialogue as to whether another path to resolution is possible. The Escrow Agent has a limited role in this matter and we are hopeful that the disposition of the Escrow Funds can be resolved efficiently. We are sensitive to the fact that the parties likely do not wish to expend funds unnecessarily, and we therefore presume that minimizing litigation is desired, but we note that if the uncertainty regarding the proper distribution of the Escrow Funds cannot be resolved to the Escrow Agent's satisfaction, an interpleader action may also be appropriate, as contemplated and permitted by Section 5(ii) of the Escrow Agreement.\n\n Nothing herein shall constitute a waive or release or any rights, remedies, claims and defenses of the Escrow Agent pursuant to the Escrow Agreement or otherwise available at law or equity. Such rights, remedies, claims, and defenses are expressly reserved.\n\nMay 30, 2023 Page 3\n\nI am happy to speak with you regarding this matter, and my contact information is included above if you believe that a discussion would be helpful. Please also direct future correspondence regarding this matter to Shipman as counsel to the Escrow Agent.\n\nSincerely,\n\nKimberly S. Cohen\n\nKSC:cah\n\ncc: Alex Bongartz (alexbongartz@paulhastings.com) Stephen M. Kindseth, Esq. (SKindseth@zeislaw.com) Aaron A. Romney (aromney@zeislaw.com) Ho Wan Kwowk c/o William R. Baldiga (wbaldiga@brownrudnick.com) and Jeffrey L. Jonas (JJonas@brownrudnick.com) Irve Goldman, Esq. (igoldman@pullcom.com) Jonathan Kaplan, Esq. (jkaplan@pullcom.com) Samuel Nunberg (snunberg@winstonashe.com) Pacific Alliance Asia Opportunity Fund, L.P. (jlewis@pagasia.com) Peter Friedman, Esq. (pfriedman@omm.com) Carollynn H.G. Callari, Esq. (ccallari@callaripartners.com) Laurel Casasanta (laurel.casasanta@usbank.com) Ted Cheesebrough, Esq. (ted.cheesebrough@usbank.com)","body_zh":"证物 D\n\nKimberly S. Cohen 电话：(860) 251-5804 KCohen@goodwin.com\n\nOne Constitution Plaza Hartford, CT 06103-1919\n\n2023年5月30日\n\n通过电子邮件发送\n\nLuc A. Despins 律师 lucdespins@paulhastings.com\n事由：关于：Ho Wan Kwok（郭文贵）；申请根据《托管协议》释放资金\n\n尊敬的 Despins 先生：\n\n本律所代表 U.S. Bank National Association（美国国家协会银行），处理与 HK International Funds Investments (USA) Limited, LLC（香港国际基金投资（美国）有限公司，简称“HK USA”）、在正于 United States Bankruptcy Court for the District of Connecticut（美国康涅狄格区破产法院，简称“破产法院”）审理的题为 In re: Ho Wan Kwok，案号 22-50073 的破产案件（“破产案件”）中任命的 Official Committee of Unsecured Creditors（无担保债权人官方委员会，简称“委员会”），以及作为托管代理人的美国国家协会银行（“托管代理人”）之间于 2022年4月28日 订立的某份《托管协议》（“《托管协议》”）相关事宜。我们已收到您以破产案件中的第 11 章受托人（“受托人”）身份发送的日期为 2023年5月26日 的信件（“Paul Hastings（普衡）信件”），该信件附有破产法院于 2023年5月18日 作出的《关于批准对第二项反诉作出的部分简易判决动议的裁决与命令备忘录》[卷宗号 221]（“《命令》”）。托管代理人还收到 Zeisler & Zeisler, P.C. 律所作为 HK USA 律师的 Stephen M. Kindseth 律师于 2023年5月26日 发送给您、委员会律师及其他人的电子邮件，以及 Zeisler & Zeisler, P.C. 律所的 Aaron Romney 律师于 2023年5月29日 发送给您、委员会律师及其他人的电子邮件（统称“Zeisler 电子邮件”）。Paul Hastings 信件及 Zeisler 电子邮件的副本均附于本函后。本文中已使用但未作定义的首字母大写术语，应具有《托管协议》中赋予它们的含义。\n\n如您所知，Paul Hastings 信件提到了《命令》中的某些认定，并要求托管代理人将托管资金的余额划转至受托人账户。Paul Hastings 信件还表明委员会同意所申请的资金释放。\n\n《托管协议》第 4 条规定了在若干不同情形下交付托管资金的程序。然而，Paul Hastings 信件并未指出\n\n2023年5月30日 第 2 页\n\n《托管协议》中任何可授权所申请之拨付的条款，且该申请似乎不符合《托管协议》中列举的任何分配机制。如您所知，托管代理人就此事而言并非财务利害关系方，必须严格依据《托管协议》行事。《托管协议》第 4(a)(ii) 条规定，资金拨付须依据“破产法院于 2022年7月16日 或之后作出的指示交付托管资金的终局、不可上诉之命令，并附有一份由申请拨付方签署的证明书，证明破产法院的该等命令确为破产法院的终局、不可上诉之命令”。托管代理人尚未收到该条款所要求的申请方证明书，且该《命令》似乎并非终局且不可上诉。\n\nPaul Hastings 信件与 Zeisler 电子邮件在关于托管资金之处置方面包含相互矛盾的陈述。显而易见，关于托管资金的拨付存在争议。此外，Zeisler 电子邮件说明 HK USA 已就该《命令》提交上诉通知，且 HK USA 打算立即提交中止执行以上诉的动议。鉴于缺少《托管协议》所要求的证明书，以及针对待决《命令》提出上诉的证据和各方对托管资金处置的分歧，托管代理人目前无法支付该笔款项。依据《托管协议》的条款，包括但不限于第 5 条，托管代理人有权中止履行其义务（包括拨付义务），直至争议和不确定性得到解决（由《托管协议》所预期的上述终局法院命令和证明书之一证明为准），且托管代理人已得出结论，在当前中止履行该等义务是恰当的。\n\n我们欢迎就是否存在其他解决途径展开对话。托管代理人在本案中的角色有限，我们希望托管资金的处置能够得到高效解决。我们理解各方可能不希望产生不必要的资金消耗，因此我们推定各方均希望尽量减少诉讼，但我们提请注意，如果关于托管资金正当分配的不确定性无法以令托管代理人满意的方式解决，那么依据《托管协议》第 5(ii) 条所预期并允许的互诉索赔（interpleader）诉讼亦可能是恰当的做法。\n\n 本文中的任何内容均不构成托管代理人根据《托管协议》或在普通法或衡平法上可享有的任何权利、救济、主张和抗辩的放弃或解除。明确保留所有该等权利、救济、主张和抗辩。\n\n2023年5月30日 第 3 页\n\n如果您认为展开讨论会有所帮助，我很乐意就此事与您沟通，上方已附上我的联系方式。关于本案的后续函电往来，亦请同时发送给作为托管代理人律师的 Shipman 律所。\n\n此致，\n\nKimberly S. Cohen\n\nKSC:cah\n\n抄送：Alex Bongartz (alexbongartz@paulhastings.com) Stephen M. Kindseth 律师 (SKindseth@zeislaw.com) Aaron A. Romney (aromney@zeislaw.com) 郭文贵 转交 William R. Baldiga (wbaldiga@brownrudnick.com) 及 Jeffrey L. Jonas (JJonas@brownrudnick.com) Irve Goldman 律师 (igoldman@pullcom.com) Jonathan Kaplan 律师 (jkaplan@pullcom.com) Samuel Nunberg (snunberg@winstonashe.com) Pacific Alliance Asia Opportunity Fund, L.P.（太平洋联盟亚洲机会基金有限合伙） (jlewis@pagasia.com) Peter Friedman 律师 (pfriedman@omm.com) Carollynn H.G. Callari 律师 (ccallari@callaripartners.com) Laurel Casasanta (laurel.casasanta@usbank.com) Ted Cheesebrough 律师 (ted.cheesebrough@usbank.com)","key_entities":["Paul Hastings","Despins","Kwok","Ho Wan Kwok","Je"],"ecf_references":[],"word_count":956,"status":"published","published_at":"2023-05-26 00:00:00","created_at":"2023-05-26","updated_at":"2026-08-23 12:39:42"}