{"id":"court_ctb_2032_35","court":"CTB","case_no":"22-50073","doc_number":2032,"sub_number":35,"doc_type":"EXHIBIT","filed_date":"2023-07-25","title":"Exhibit 35 FILED: NEW YORK COUNTY CLERK 04/28/2021 10:54 PM** INDEX NO. 652077/2017 NYSCEF DOC. NO. 767 RECEIVED NYSCEF:","summary_zh":null,"summary_en":null,"body_en":"## **Exhibit 35**\n\n**FILED: NEW YORK COUNTY CLERK 04/28/2021 10:54 PM** INDEX NO. 652077/2017 NYSCEF DOC. NO. 767 RECEIVED NYSCEF: 04/28/2021 Case 22-50073 Doc 2032-35 Filed 07/25/23 Entered 07/25/23 13:27:53 Page 2 of 13\n\n## **EXHIBIT 14**\n\n| | OFFICE OF THE UNITED STATES TRUSTEE
SOUTHERN DISTRICT OF NEW YORK |\n|--------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------|\n| IN RE: | Case No. 20-12411-JLG |\n| GENEVER HOLDINGS, LLC, | 201 Varick Street
New York, NY 10014 |\n| Debtor.
| December 18, 2020
2:30 p.m. |\n| | TRANSCRIPT OF 341 MEETING OF CREDITORS
BEFORE RICHARD C. MORRISSEY, ESQ.
OFFICE OF THE U.S. TRUSTEE |\n| TELEPHONIC APPEARANCES: | |\n| For the Debtor: | Goldberg Weprin Finkel Goldstein LLP
By:
KEVIN J. NASH, ESQ.
1501 Broadway, 22nd Floor
New York, NY 10036 |\n| | Lawall & Mitchell LLC
By:
AARON A. MITCHELL, ESQ.
55 Madison Avenue, #400
Morristown, NJ 07960 |\n| For Pacific Alliance
Asia Opportunity Fund
L.P.: | Foley & Lardner LLP
By:
ALISSA M. NANN, ESQ.
90 Park Avenue
New York, NY 10016 |\n| | O'Melveny & Meyers LLP
By:
EDWARD MOSS, ESQ.
7 Times Square
New York, NY 10036 |\n| | Proceedings recorded by electronic sound recording, transcript
produced by transcription service. |\n| | ______________________________________________________________
J&J COURT TRANSCRIBERS, INC.
268 Evergreen Avenue
Hamilton, New Jersey 08619 |\n\n| NYSCEF DOC. NO. 767 | FILED: NEW YORK COUNTY CLERK 04/28/2021 10:54 PM
Case 22-50073
Doc 2032-35 | INDEX NO. 652077/2017
Filed 07/25/23
Entered 07/25/23 13:27:53
Page 4 of
RECEIVED NYSCEF: 04/28/2021 | |\n|---------------------|----------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------|---|\n| | | 13 | 2 |\n| | TELEPHONIC APPEARANCES (Cont'd): | | |\n| | For the Sherry-
Netherland Hotel: | Stroock & Stroock & Lavan LLP
By:
GABRIELLE SASSON, ESQ.
CURTIS C. MECHLING, ESQ.
180 Maiden Lane
New York, NY 10038 | |\n| | | - - - | |\n| | | | |\n| | | | |\n| | | | |\n| | | | |\n| | | | |\n| | | | |\n| | | | |\n| | | | |\n| | | WWW.JJCOURT.COM | |\n\n| | INDEX NO. 652077/2017
FILED: NEW YORK COUNTY CLERK 04/28/2021 10:54 PM
Case 22-50073
Doc 2032-35
Filed 07/25/23
Entered 07/25/23 13:27:53
Page 5 of |\n|---------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|\n| NYSCEF DOC. NO. 767 | RECEIVED NYSCEF: 04/28/2021
13 |\n| | Wang - Morrissey
17 |\n| 1 | or as opposed to the individuals who live there who pay, or is |\n| 2 | it just that Bravo happens to be the one doing the paying? |\n| 3 | A
Bravo Luck and Mr. Qiang Guo in the very beginning |\n| 4 | purchased these apartments.
So they are looking at them as |\n| 5 | their assets and liability.
So along the way they have been |\n| 6 | paying all of those maintenance.
Not by individual.
By Bravo |\n| 7 | Luck, this company. |\n| 8 | Q
Okay.
And do you know what the monthly maintenance is? |\n| 9 | A
From this year, it raised a little bit, it's about I think |\n| 10 | roughly 73,000 per month as a maintenance fee, and plus with |\n| 11 | assessments every month also. |\n| 12 | Q
Okay.
What do you mean assessments? |\n| 13 | A
Assessments as far as Sherry explained that is a |\n| 14 | assessment every month occurred about like less than 10,000, |\n| 15 | like this year is 8,000, every month, instead of before, I |\n| 16 | believe that was quarterly, to improve the entire condition and |\n| 17 | pay anything which Sherry want to improve, the entire building, |\n| 18 | maintenance or condition of facility. |\n| 19 | Q
Okay.
So, in other words, in addition to the 73,000 a |\n| 20 | month, the Sherry will impose assessments for whatever |\n| 21 | improvements they're making? |\n| 22 | A
Yes, sir. |\n| 23 | Q
Okay.
And is the debtor or Bravo if it's doing the |\n| 24 | paying, is the debtor current with respect to those maintenance |\n| 25 | payments? |\n| | |\n\n| Case 22-50073
Doc 2032-35
Filed 07/25/23
Entered 07/25/23 13:27:53
Page 6 of
NYSCEF DOC. NO. 767
RECEIVED NYSCEF: 04/28/2021
13 |\n|------------------------------------------------------------------------------------------------------------------------------------------------------|\n| Wang - Morrissey
18 |\n| A
From this year because of the litigation, the debtor was |\n| expecting, but Bravo Luck did not pay from the beginning of |\n| this year because of the litigation and ownership. |\n| Q
Okay.
So from the beginning of 2020, so from January, is |\n| that what you're saying? |\n| A
Correct, from January of 2020. |\n| MR. NASH:
Richard, just for informational purposes. |\n| The Stroock firm represents the Sherry-Netherland.
We listed |\n| the Sherry-Netherland for approximately a million dollars on |\n| arrears. |\n| We also listed, there was a lawsuit, |\n| Sherry-Netherland is holding a \\$3.5 million security deposit. |\n| There was a litigation that's listed there where the security |\n| deposit, an issue whether it's too much of a security deposit, |\n| how it would be applied, and so forth.
So that's listed. |\n| It's about a million dollars in arrears that are I |\n| think listed on the petition with three or four, maybe even |\n| five lawsuits involving the Sherry-Netherland, if I'm not |\n| mistaken. |\n| MR. MORRISSEY:
Okay.
Thank you, Mr. -- |\n| A
Yes, the litigation with the Sherry actually affected the |\n| payments from this year, yes. |\n| Q
Okay.
Thank you. |\n| MR. MORRISSEY:
And thank you, Mr. Nash, for adding |\n| that color. |\n| WWW.JJCOURT.COM |\n| |\n\n**FILED: NEW YORK COUNTY CLERK 04/28/2021 10:54 PM** INDEX NO. 652077/2017\n\n| | INDEX NO. 652077/2017
FILED: NEW YORK COUNTY CLERK 04/28/2021 10:54 PM
Case 22-50073
Doc 2032-35
Filed 07/25/23
Entered 07/25/23 13:27:53
Page 7 of |\n|---------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|\n| NYSCEF DOC. NO. 767 | RECEIVED NYSCEF: 04/28/2021
13 |\n| | Wang - Morrissey
19 |\n| 1 | Q
Now since the petition was filed, has the debtor made any |\n| 2 | maintenance payments? |\n| 3 | A
No.
No, the debtor didn't, sir. |\n| 4 | Q
Okay, understood. |\n| 5 | A
Yeah. |\n| 6 | Q
Okay. |\n| 7 | A
Sorry. |\n| 8 | Q
Okay.
I'm going to turn now to the Pacific Alliance issue |\n| 9 | and try to understand what that is about and how the debtor |\n| 10 | itself is connected to that. |\n| 11 | And I'm going to ask a question in sort of a leading |\n| 12 | way, but my understanding is that there's an entity called |\n| 13 | Pacific Alliance Asia Opportunity Fund that sued Mr. Kwok and |\n| 14 | the debtor in 2017.
And this was in connection with a personal |\n| 15 | guaranty of a loan obligation. |\n| 16 | And I guess my question, Ms. Wang, is did that loan |\n| 17 | obligation relate to the debtor itself or the premises at the |\n| 18 | Sherry-Netherland? |\n| 19 | A
This litigation related to Mr. Kwok, K-w-o-k, himself, |\n| 20 | personally, not related to Genever Holdings LLC, this company. |\n| 21 | Q
Okay.
And not to the apartment, correct? |\n| 22 | A
Not to Genever Holdings LLC.
Actually, that was Mr. Kwok |\n| 23 | himself.
He signed a personal guaranty by himself.
So by then |\n| 24 | Genever Holdings LLC did not exist.
There was no Sherry |\n| 25 | property either. |\n| | |\n\n| NYSCEF DOC. NO. 767 | INDEX NO. 652077/2017
FILED: NEW YORK COUNTY CLERK 04/28/2021 10:54 PM
Case 22-50073
Doc 2032-35
Filed 07/25/23
Entered 07/25/23 13:27:53
Page 8 of
RECEIVED NYSCEF: 04/28/2021 |\n|---------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|\n| | 13 |\n| | Wang - Morrissey
20 |\n| 1 | Q
Okay.
The loan obligation you mentioned.
The debtor |\n| 2 | itself, Genever Holdings, is not a party to that loan |\n| 3 | obligation, is that correct? |\n| 4 | A
Correct, sir. |\n| 5 | Q
Okay.
You listed in the schedules, I believe, a \\$67.5 |\n| 6 | million claim of Bravo Luck Limited, and I believe you |\n| 7 | mentioned it before, and said it was an unsecured claim, is |\n| 8 | that correct? |\n| 9 | A
Yes.
Bravo Luck Limited is listed as non-priority |\n| 10 | unsecured claim, yes, sir. |\n| 11 | Q
Okay.
I'd like to interject a comment now, Ms. Wang.
I |\n| 12 | just wanted to make sure you understand that neither Mr. Kwok |\n| 13 | or any other individuals or Bravo Luck is represented by Mr. |\n| 14 | Nash and his firm in this case.
In fact, they can't be |\n| 15 | represented by Mr. Nash and his firm. |\n| 16 | To the extent that Bravo Luck or anyone else wishes |\n| 17 | to assert its or his interest in the debtor, or with respect to |\n| 18 | the debtor, those entities or individuals would have to retain |\n| 19 | their own separate counsel.
I just want to make sure you |\n| 20 | understand that? |\n| 21 | A
Yes, understood.
Thank you. |\n| 22 | Q
Okay, thank -- |\n| 23 | MR. NASH:
And, Richard, I think they have their own |\n| 24 | counsel.
I think it's Pepper Hamilton. |\n| 25 | MR. MORRISSEY:
You're talking about the individuals |\n| | WWW.JJCOURT.COM |\n\nWang - Morrissey 21 1 or Bravo Luck? 2 MR. NASH: I'm talking about Bravo Luck. 3 A Bravo Luck. 4 MR. NASH: I don't know Bravo Luck, Pepper Hamilton. 5 I know I've copied them on e-mails when I did propose bidding 6 procedures which I sent out to everybody. But I do think they 7 represent, it's definitely Bravo Luck, and maybe the son as 8 well. 9 MR. MORRISSEY: Okay, thank you. 10 Q Now there's another claimant called Golden Spring New York 11 Limited with a \\$1.8 million claim. Could you explain, Ms. 12 Wang, what that is? 13 A This claim is -- Golden Spring New York is the family 14 office located in Manhattan here, paid some of expenses for 15 this apartment also. 16 Q Could you repeat that last sentence please? 17 A This family office pays some of the expenses related to 18 the Sherry apartment also, which is about like 1.8 million in 19 total so far. 20 Q Now when you said paid expenses, is that related to the 21 purchase or is that related to the maintenance or something 22 else? 23 A That related to some maintenance and like some repair and 24 like the terrace work, et cetera. 25 Q Okay. Are they still making such -- paying expenses for **FILED: NEW YORK COUNTY CLERK 04/28/2021 10:54 PM** INDEX NO. 652077/2017 NYSCEF DOC. NO. 767 RECEIVED NYSCEF: 04/28/2021 Case 22-50073 Doc 2032-35 Filed 07/25/23 Entered 07/25/23 13:27:53 Page 9 of 13\n\n| NYSCEF DOC. NO. 767 | INDEX NO. 652077/2017
FILED: NEW YORK COUNTY CLERK 04/28/2021 10:54 PM
Case 22-50073
Doc 2032-35
Filed 07/25/23
Entered 07/25/23 13:27:53
Page 10
RECEIVED NYSCEF: 04/28/2021
of 13 |\n|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|\n| | Wang - Morrissey
22 |\n| 1 | the debtor? |\n| | |\n| 2 | A
I believe so. |\n| 3 | Q
Okay.
I was going to say a word about operating reports a |\n| 4 | little later, but for right now, any payments that the debtor |\n| 5 | is receiving from another entity should be reflected in the |\n| 6 | operating reports.
And you can discuss with Mr. Nash exactly |\n| 7 | how to do that.
But we want to know if the debtor is getting |\n| 8 | contributions from somebody, whether it's a related entity or |\n| 9 | someone controlled by one of the individuals that controls |\n| 10 | Genever itself.
So if you could please make sure that happens |\n| 11 | when the operating reports are filed, okay? |\n| 12 | A
Yes. |\n| 13 | Q
And once again, Mr. Nash cannot represent Golden Spring |\n| 14 | New York. |\n| 15 | A
Okay. |\n| 16 | Q
Okay.
And also Mr. Guo, G-u-o, I apologize if I'm |\n| 17 | mispronouncing that, and Bravo Luck, slash Bravo Luck Limited, |\n| 18 | has a \\$5 million claim.
Is that separate from the 65, \\$67.5 |\n| 19 | million claim listed or is that -- is there a difference or is |\n| 20 | that the same? |\n| 21 | A
It's separate.
It's separate from the 67.5 Bravo Luck |\n| 22 | Limited. |\n| 23 | Q
Okay.
And now those are the two numbers you mentioned |\n| 24 | before in connection with the purchase of the apartment, |\n| 25 | correct? |\n| | |\n| | WWW.JJCOURT.COM |\n\n| | INDEX NO. 652077/2017
FILED: NEW YORK COUNTY CLERK 04/28/2021 10:54 PM
Case 22-50073
Doc 2032-35
Filed 07/25/23
Entered 07/25/23 13:27:53
Page 11 |\n|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|\n| NYSCEF DOC. NO. 767 | RECEIVED NYSCEF: 04/28/2021
of 13 |\n| | Wang - Morrissey
23 |\n| 1 | A
Yes. |\n| 2 | Q
Okay.
So that was -- was that in the form -- that was in |\n| 3 | the form of a loan? |\n| 4 | A
I believe they have a trust agreement. |\n| 5 | Q
Okay.
But in other words, did Bravo Luck forward that |\n| 6 | money in connection with the purchase with an expectation of |\n| 7 | being repaid as if it were a loan? |\n| 8 | A
Yes, that's right. |\n| 9 | Q
Okay.
And same with Mr. Guo with respect to the \\$5 |\n| 10 | million, is that correct? |\n| 11 | A
Yes. |\n| 12 | Q
Okay.
Do you have documents reflecting that as a loan? |\n| 13 | A
I believe so.
I have to find out. |\n| 14 | Q
Okay. |\n| 15 | A
It's not in front of me right now. |\n| 16 | Q
Yeah, if you could provide that to Mr. Nash and I would |\n| 17 | ask Mr. Nash to provide that to me? |\n| 18 | A
Yes. |\n| 19 | Q
Okay, thank you. |\n| 20 | MR. NASH:
We will do that.
I think if I -- there |\n| 21 | was a, if I'm not mistaken, I did review the closing statement. |\n| 22 | So I will go back into my e-mails and dig that out. |\n| 23 | MR. MORRISSEY:
Okay, yes.
And if you could just |\n| 24 | forward the e-mail to me, that would be the easiest thing. |\n| 25 | MR. NASH:
Yes.
I forwarded you the insurance as we |\n| | |\n\n| | INDEX NO. 652077/2017
FILED: NEW YORK COUNTY CLERK 04/28/2021 10:54 PM
Case 22-50073
Doc 2032-35
Filed 07/25/23
Entered 07/25/23 13:27:53
Page 12 |\n|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|\n| NYSCEF DOC. NO. 767 | RECEIVED NYSCEF: 04/28/2021
of 13 |\n| | Wang - Morrissey
24 |\n| 1 | were speaking as well. |\n| 2 | MR. MORRISSEY:
Okay, thank you. |\n| 3 | Q
Mr. Nash mentioned something, Ms. Wang, earlier about |\n| 4 | bidding procedures.
Does the debtor intend to sell the co-op? |\n| 5 | A
Yes, the debtor decided to sell the apartment. |\n| 6 | Q
Okay.
And are you handling the sale for the debtor?
In |\n| 7 | other words, are you the principal person handling the sale or |\n| 8 | is someone else doing that? |\n| 9 | A
Yes, I'm the person handling this also.
We literally |\n| 10 | scheduled a meeting with our realtor broker a month ago so. |\n| 11 | Q
Okay.
That was going to be my next question, whether you |\n| 12 | had hired a broker.
Who is the broker? |\n| 13 | MR. NASH:
We have, Richard, let me just help you |\n| 14 | with this.
We've designated a proposed broker, Harris Stevens, |\n| 15 | a woman by the name of Kathy Sloane.
She has, as I understand |\n| 16 | it, a good relationship with the Sherry-Netherland. |\n| 17 | We setup a call with all parties, I think on Monday, |\n| 18 | for everybody to speak to the broker and to get her feeling on |\n| 19 | how this would proceed on a sale. |\n| 20 | I'm looking to get a consent of all the parties as to |\n| 21 | the broker, as to possible bidding procedures, and be in a |\n| 22 | position to file papers with the Court on a consensual basis if |\n| 23 | we can get it.
And that's why I circulated the papers in |\n| 24 | advance.
I should send you a copy as well.
But all the |\n| 25 | counsel have them. |\n| | |\n\n| NYSCEF DOC. NO. 767 | INDEX NO. 652077/2017
FILED: NEW YORK COUNTY CLERK 04/28/2021 10:54 PM
Case 22-50073
Doc 2032-35
Filed 07/25/23
Entered 07/25/23 13:27:53
Page 13
RECEIVED NYSCEF: 04/28/2021 |\n|---------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|\n| | of 13 |\n| | Wang - Morrissey
25 |\n| 1 | And one of my calls with -- I called Pacific |\n| 2 | Alliance.
They wanted to speak to the broker.
And so I |\n| 3 | reached out to the broker and I think from the last e-mails |\n| 4 | we're looking at a call sometime on the day on Monday. |\n| 5 | MR. MORRISSEY:
Okay, thank you. |\n| 6 | Q
And, Ms. Wang, I just want to make clear to you that the |\n| 7 | broker would have to be retained by the debtor, and that |\n| 8 | retention has to be approved by the Bankruptcy Court.
I just |\n| 9 | want to make sure you understand that? |\n| 10 | A
Yes. |\n| 11 | Q
Okay. |\n| 12 | A
Thank you, sir. |\n| 13 | Q
Do you know if the broker has conducted an appraisal? |\n| 14 | A
Yeah.
This is the same broker when Genever Holdings LLC |\n| 15 | purchased this apartment.
So she knows this apartment very |\n| 16 | well, including the facility, the condition and like terrace, |\n| 17 | you know, all the details.
And then she has a very good |\n| 18 | relationship with Sherry also, as far as I know. |\n| 19 | Q
Okay.
But do you know if the debtor has actually done, |\n| 20 | conducted an appraisal now for 2020? |\n| 21 | A
No, we didn't.
I think. |\n| 22 | MR. NASH:
It's a difficult thing to appraise in a |\n| 23 | sense.
Just to give you a little history.
The apartment was |\n| 24 | purchased for \\$70 million.
We do believe it has lost value |\n| 25 | from that purchase price over the years, as I understand it |\n| | |\n| | |","body_zh":null,"key_entities":["Kwok","Guo","Je","Finkel","CIPA"],"ecf_references":[],"word_count":3174,"status":"published","published_at":"2023-07-25 00:00:00","created_at":"2023-07-25","updated_at":"2026-07-07 07:58:48"}