{"id":"court_ctb_3204_0","court":"CTB","case_no":"22-50073","doc_number":3204,"sub_number":0,"doc_type":"ORDER","filed_date":null,"title":"UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION | -------------------------------------------","summary_zh":null,"summary_en":null,"body_en":"## **UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION**\n\n| -----------------------------------------------------------<br>x |             |                         |  |  |\n|------------------------------------------------------------------|-------------|-------------------------|--|--|\n| In re:                                                           | :<br>:      | Chapter 11              |  |  |\n| 1<br>HO WAN KWOK,<br>et al.,                                     | :<br>:<br>: | Case No. 22-50073 (JAM) |  |  |\n| Debtors.                                                         | :<br>:      | (Jointly Administered)  |  |  |\n| ----------------------------------------------------------<br>x  |             |                         |  |  |\n\n# **MOTION TO LIMIT NOTICE AND SCHEDULE EXPEDITED HEARING REGARDING CHAPTER 11 TRUSTEE'S MOTION FOR ENTRY OF ORDER PURSUANT TO SECTIONS 105(a), 363(b), 541, AND 542 OF BANKRUPTCY CODE APPROVING LIQUIDATION OF VCTR SHARES, DISTRIBUTION OF PROCEEDS, AND RELATED RELIEF**\n\nLuc A. Despins (the \"Trustee\"), in his capacity as Chapter 11 Trustee of Ho Wan Kwok (the \"Debtor\"), hereby moves (the \"Motion to Expedite\"), pursuant to Rules 2002 and 9006(c)(1) of the Federal Rules of Bankruptcy Procedure (the \"Bankruptcy Rules\"), for entry of an order, substantially in the form attached as **Exhibit 1** hereto, limiting notice and scheduling an expedited hearing with respect to the Trustee's *Motion for Entry of Order Pursuant to Sections 105(a), 363(b), 541, and 542 of Bankruptcy Code Approving Liquidation of VCTR Shares, Distribution of Proceeds, and Related Relief* (the \"VCTR Motion\"). [2](#page-0-1) In support of this Motion to Expedite, the Trustee respectfully states as follows:\n\n<span id=\"page-0-0\"></span><sup>1</sup> The Debtors in these chapter 11 cases are Ho Wan Kwok (also known as Guo Wengui, Miles Guo, and Miles Kwok, as well as numerous other aliases) (last four digits of tax identification number: 9595), Genever Holdings LLC (last four digits of tax identification number: 8202) and Genever Holdings Corporation. The mailing address for the Trustee, Genever Holdings LLC, and Genever Holdings Corporation is Paul Hastings LLP, 200 Park Avenue, New York, NY 10166 c/o Luc A. Despins, as Trustee for the Estate of Ho Wan Kwok (solely for purposes of notices and communications).\n\n<span id=\"page-0-1\"></span><sup>2</sup> Capitalized terms used but not otherwise defined in this Motion to Expedite have the meanings set forth in the VCTR Motion.\n\n#### **JURISDICTION, VENUE, AND STATUTORY BASES**\n\n1. The Court has jurisdiction to consider this matter pursuant to 28 U.S.C. §§ 157 and 1334. This is a core proceeding pursuant to 28 U.S.C. § 157(b)(2).\n\n2. Venue in this District is proper pursuant to 28 U.S.C. §§ 1408 and 1409.\n\n3. The bases for the relief sought by this Motion are Bankruptcy Rules 2002 (a)(2) and (i) and 9006(c)(1).\n\n#### **BACKGROUND AND TRUSTEE'S VCTR MOTION**\n\n4. Through his investigation of the Debtor's financial affairs, and with the assistance of the Reverence Fund, the Trustee has learned that the Estate owns an interest in the Reverence Fund, a private equity fund that pools investments from institutional and high-net-worth investors and invests them in a portfolio of assets, including securities.\n\n5. The Debtor, through associated entities and individuals, initially invested approximately \\$5 million in the Reverence Fund, and, in exchange, obtained a limited partnership interest in the fund (*i.e.*, the L.P. Interest). This interest was initially held via Sail Victory Ltd and later transferred to Lamp Capital. This Court has entered the Lamp Judgment to the effect that Lamp Capital and all its assets are property of the Estate. This property includes the L.P. Interest.\n\n6. On account of the Estate's L.P. Interest in the Reverence Fund, the Estate is entitled to receive distributions of cash and securities. These include the right to receive a distribution of certain publicly traded shares—*i.e.*, the VCTR Shares—which are worth approximately \\$2.9 million, as well as unpaid cash distributions of at least \\$715,000.00.\n\n7. The Trustee has determined, in his business judgment, that the VCTR Shares should be liquidated to preserve their value for the benefit of the Estate, because there is a public market for these shares and the value of the shares fluctuates on a daily basis. The Reverence Fund has\n\n2\n\nconsented to direct Merrill Lynch to liquidate the VCTR Shares, deduct its fees (which are capped at \\$3,000.00), and transfer the net proceeds to the Trustee, pursuant to the terms of the Proposed Order granting the VCTR Motion. **The Trustee wishes to move forward with the liquidation of the VCTR Shares as soon as possible, because the value of the VCTR Shares is subject to market volatility and the Trustee submits that approximately \\$2.9 million of value should not remain concentrated in one publicly traded stock any longer than necessary.**\n\n8. The Estate's L.P. Interest in the Reverence Fund itself also has value, however, there is not a liquid market for this interest and a liquidation would incur material costs and might result in a discounted sale price. The Trustee has thus determined, in his business judgment, that the Estate should continue to hold the L.P. Interest and receive any other distributions on account of such interest, and the VCTR Motion likewise authorizes the foregoing.\n\n#### **RELIEF REQUESTED**\n\n9. The Trustee respectfully requests that the Court enter an order (a) limiting service of the VCTR Motion to: (i) the Office of the United States Trustee for the District of Connecticut; (ii) the Official Committee of Unsecured Creditors (the \"Committee\"); (iii) counsel for the Reverence Fund; (iv) counsel for Merrill Lynch; (v) counsel that appeared for Lamp Capital in *Despins, Chapter 11 Trustee v. Lamp Capital LLC*, et al. [Adv. Proc. No. 23-05023] (the \"Lamp Capital A.P.\")[3](#page-2-0) ; (vi) all parties who have requested notice in the Debtor's chapter 11 case pursuant to Bankruptcy Rule 2002; (vii) all parties who receive notice in the Debtor's chapter 11 case by operation of the Court's electronic filing (\"CM/ECF\") system; and (viii) any party who requested notice in the Debtor's chapter 11 case, but is unable to accept electronic filing as indicated on the Notice of Electronic Filing (collectively, the \"Notice Parties\"); (b) directing any objections to the\n\n<span id=\"page-2-0\"></span><sup>3</sup> The Trustee reserves all rights concerning the standing of any parties to purport to act on behalf of Lamp Capital following entry of the Lamp Judgment.\n\nVCTR Motion be filed on or before **May 24, 2024**; and (c) scheduling a hearing with respect to the VCTR Motion for **May 28, 2024 at 12 noon**.\n\n## **BASIS FOR RELIEF REQUESTED**\n\n#### **I. Limiting Service of VCTR Motion**\n\n10. Bankruptcy Rule 2002 generally requires that a minimum of twenty-one (21) days' notice be provided by mail to \"the debtor, the trustee, all creditors and indenture trustees\" and any committee appointed under section 1102 of the Bankruptcy Code, with respect to motions addressing a \"proposed use, sale, or lease of property of the estate other than in the ordinary course of business, unless the court for cause shown shortens the time or directs another method of giving notice.\" *See* Bankruptcy Rule 2002 (a) and (i).\n\n11. Notwithstanding the foregoing, Bankruptcy Rule 2002(i) provides that the Court \"may order that notices required by subdivision (a)(2) … of this rule be transmitted to the United States trustee and be mailed only to the committees elected under §705 or appointed under §1102 of the Code or to their authorized agents and to the creditors and equity security holders who serve on the trustee or debtor in possession and file a request that all notices be mailed to them.\" Additionally, Local Bankruptcy Rule 6004-2(g) requires sale motions \"be served by the Movant on all parties indicating interest in the purchase of the property.\"[4](#page-3-0)\n\n12. There have been approximately 1,400 claims filed in the Debtor's chapter 11 case and the overwhelming majority were filed by individuals located in foreign jurisdictions and many\n\n<span id=\"page-3-0\"></span><sup>4</sup> The Trustee notes this provision of Local Bankruptcy Rule 6004-2(g) for informational purposes. The relief requested by the VCTR Motion provides for the Reverence Fund, instead of distributing the VCTR Shares to the Trustee, to direct Merrill Lynch to liquidate the VCTR Shares and distribute the proceeds to the Trustee. At minimum, the Trustee understands this election to receive a distribution of cash rather than the VCTR Shares to constitute a use of property outside of the ordinary course.\n\nof whom have elected confidential treatment of their claims (in accordance with the bar date order). The cost to serve the VCTR Motion on all creditors would be substantial.\n\n13. The Trustee submits that it would be unduly burdensome for the Estate to serve the VCTR Motion on more than 1,400 parties, particularly given the nature of the relief requested by the VCTR Motion, which provides for the conversion of an asset with a value that is volatile to a stable asset (*i.e.*, cash) by sale via a public market. The Trustee submits that under these circumstances it is appropriate and is in the best interests of the Estate, its creditors, and other parties-in-interest, to limit service of the VCTR Motion to the Notice Parties only.\n\n#### **II. Shortening Notice and Scheduling Expedited Hearing on VCTR Motion**\n\n14. In addition, pursuant to Bankruptcy Rules 2002(a)(2) and 9006(c)(1), the Court may reduce the notice period when requested by motion where cause is demonstrated. Cause exists to consider and determine the VCTR Motion upon an expedited basis.\n\n15. The VCTR Shares are shares of a stock that is publicly traded on the NASDAQ exchange. As with any publicly traded shares, they are subject to considerable volatility on a daily basis. While the share price of VCTR has increased over the last six months, there is no guarantee that the stock will continue to appreciate.\n\n16. For example, from February 12 to February 13, 2024, VCTR lost approximately 5.7 percent of its value, and from May 9 to May 10, 2024, VCTR lost approximately 6.5 percent of its value. Declines on this scale would constitute roughly \\$165,000 to \\$188,000 of value when applied to the VCTR Shares, based on the shares' present market value of \\$2,893,761.75.\n\n17. The Trustee submits that \\$2.9 million is too much value to concentrate in a single publicly traded stock and that the VCTR Shares should thus be liquidated as soon as possible to preserve their value. *See In re Ngan Gung Rest*., 254 B.R. 566, 570 (Bankr. S.D.N.Y. 2000) (citing\n\n5\n\n11 U.S.C. § 1106(a)) (a chapter 11 trustee has a \"statutory duty to protect and preserve property of the estate for the purpose of maximizing a distribution to creditors.\").\n\n18. Parties in interest will not be prejudiced by expedited consideration of the VCTR Motion. The requested relief is straightforward, is sought upon the consent of the Reverence Fund, and provides for the Reverence Fund to direct the liquidation of shares distributable to the Trustee through the only feasible procedure for selling publicly traded shares (*i.e.*, by selling them at their share price on the public market).\n\n19. Other matters are scheduled to be heard in the above-captioned chapter 11 case on May 28, 2024, at 12 noon, such that scheduling the hearing on the VCTR Motion for the same time will promote efficiency and reduce administrative expense.\n\n## **NO PREVIOUS REQUEST**\n\n20. No previous request for the relief sought herein has been made by the Trustee to this or any other court.\n\n#### [*Remainder of page intentionally left blank.*]\n\nWHEREFORE, the Trustee requests that the Court issue an order, substantially in the form\n\nattached hereto as **Exhibit 1**, and ordering such other and further relief as is just and proper.\n\nNew Haven, Connecticut\n\n## Dated: May 21, 2024 LUC A. DESPINS, CHAPTER 11 TRUSTEE\n\nBy: */s/ Patrick R. Linsey* Patrick R. Linsey (ct29437) NEUBERT, PEPE & MONTEITH, P.C. 195 Church Street, 13th Floor New Haven, Connecticut 06510 (203) 781-2847 plinsey@npmlaw.com\n\n*and*\n\nNicholas A. Bassett (admitted *pro hac vice*) PAUL HASTINGS LLP 2050 M Street NW Washington, D.C., 20036 (202) 551-1902 nicholasbassett@paulhastings.com\n\n*and*\n\nG. Alexander Bongartz (admitted *pro hac vice*) Douglass Barron (admitted *pro hac vice*) PAUL HASTINGS LLP 200 Park Avenue New York, New York 10166 (212) 318-6690 alexbongartz@paulhastings.com douglassbarron@paulhastings.com\n\n*Counsel for the Chapter 11 Trustee*\n\n# **EXHIBIT 1**\n\n**Proposed Order**\n\n# **UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION**\n\n| -----------------------------------------------------------<br>x |             |                         |  |  |\n|------------------------------------------------------------------|-------------|-------------------------|--|--|\n| In re:                                                           | :<br>:      | Chapter 11              |  |  |\n| HO WAN KWOK et al.,                                              | :<br>:      | Case No. 22-50073 (JAM) |  |  |\n| Debtors.1                                                        | :<br>:<br>: | Jointly Administered    |  |  |\n| -----------------------------------------------------------      | x           |                         |  |  |\n\n# **[PROPOSED] ORDER LIMITING NOTICE AND SCHEDULING EXPEDITED HEARING REGARDING CHAPTER 11 TRUSTEE'S MOTION FOR ENTRY OF ORDER PURSUANT TO SECTIONS 105(a), 363(b), 541, AND 542 OF BANKRUPTCY CODE APPROVING LIQUIDATION OF VCTR SHARES, DISTRIBUTION OF PROCEEDS, AND RELATED RELIEF**\n\nThe Court having considered the motion (the \"Motion\") seeking to (a) limit notice of the\n\n*Motion for Entry of Order Pursuant to Sections 105(a), 363(b), 541, and 542 of Bankruptcy Code*\n\n*Approving Liquidation of VCTR Shares, Distribution of Proceeds, and Related Relief* (the\n\n\"VCTR Motion\"), [2](#page-8-1) (b) shorten notice regarding the VCTR Motion, and (c) schedule an expedited\n\nhearing to consider and determine the VCTR Motion; and good cause appearing, it is hereby\n\n## ORDERED THAT:\n\n1. The Motion is granted as set forth herein.\n\n<span id=\"page-8-0\"></span><sup>1</sup> The Debtors in these chapter 11 cases are Ho Wan Kwok (also known as Guo Wengui, Miles Guo, and Miles Kwok, as well as numerous other aliases) (last four digits of tax identification number: 9595), Genever Holdings LLC (last four digits of tax identification number: 8202) and Genever Holdings Corporation. The mailing address for the Trustee, Genever Holdings LLC, and Genever Holdings Corporation is Paul Hastings LLP, 200 Park Avenue, New York, NY 10166 c/o Luc A. Despins, as Trustee for the Estate of Ho Wan Kwok (solely for purposes of notices and communications).\n\n<span id=\"page-8-1\"></span><sup>2</sup> Capitalized terms used but not otherwise defined in this Motion to Expedite have the meanings set forth in the VCTR Motion.\n\n2. The Trustee may serve the VCTR Motion only on: (i) the Office of the United States Trustee for the District of Connecticut; (ii) the Official Committee of Unsecured Creditors (the \"Committee\"); (iii) counsel for the Reverence Fund; (iv) counsel for Merrill Lynch; (v) counsel that appeared for Lamp Capital in *Despins, Chapter 11 Trustee v. Lamp Capital LLC*, et al. [Adv. Proc. No. 23-05023]; (vi) all parties who have requested notice in the Debtor's chapter 11 case pursuant to Bankruptcy Rule 2002; (vii) all parties who receive notice in the Debtor's chapter 11 case by operation of the Court's electronic filing (\"CM/ECF\") system; and (viii) any party who requested notice in the Debtor's chapter 11 case, but is unable to accept electronic filing as indicated on the Notice of Electronic Filing (collectively, the \"Notice Parties\").\n\n3. On or before May \\_\\_, 2024, the Trustee shall cause the VCTR Motion and this Order to be served on the Notice Parties via electronic mail or via delivery by reputable courier service (with overnight delivery to parties located within the United States) and the Trustee shall file a certificate of service in advance of the hearing on the VCTR Motion.\n\n4. A hearing on the VCTR Motion shall be held on **May 28, 2024 at 12 noon** at the United States Bankruptcy Court, District of Connecticut, Bridgeport Division, 915 Lafayette Boulevard, Room 123, Bridgeport, CT 06604.\n\n5. The deadline to object to the VCTR Motion shall be **May 24, 2024.**\n\n6. The Trustee is authorized to take all actions necessary to effectuate the relief granted in this Order in accordance with the Motion.\n\n7. The Court retains exclusive jurisdiction with respect to all matters arising from or related to the implementation, interpretation and enforcement of this Order.\n\n2\n\n## **UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION**\n\n| ----------------------------------------------------------- | x           |                         |\n|-------------------------------------------------------------|-------------|-------------------------|\n| In re:                                                      | :<br>:      | Chapter 11              |\n| HO WAN KWOK et al.,                                         | :<br>:<br>: | Case No. 22-50073 (JAM) |\n| Debtors.7                                                   | :<br>:      | Jointly Administered    |\n| ----------------------------------------------------------- | x           |                         |\n\n### **CERTIFICATE OF SERVICE**\n\nThe undersigned hereby certifies that on May 21, 2024, the foregoing Motion was electronically filed. Notice of this filing was sent by e-mail to all parties to the above-captioned chapter 11 case by operation of the Court's electronic filing (\"CM/ECF\") system or by U.S. mail to anyone unable to accept electronic filing as indicated on the Notice of Electronic Filing. Parties may access this filing through the Court's CM/ECF system.\n\nDated: May 21, 2024 New Haven, Connecticut\n\n> By: */s/ Patrick R. Linsey* Patrick R. Linsey (ct29437) NEUBERT, PEPE & MONTEITH, P.C. 195 Church Street, 13th Floor New Haven, Connecticut 06510 (203) 781-2847 plinsey@npmlaw.com\n\n<span id=\"page-10-0\"></span><sup>7</sup> The Debtors in these chapter 11 cases are Ho Wan Kwok (also known as Guo Wengui, Miles Guo, and Miles Kwok, as well as numerous other aliases) (last four digits of tax identification number: 9595), Genever Holdings LLC (last four digits of tax identification number: 8202) and Genever Holdings Corporation. The mailing address for the Trustee, Genever Holdings LLC, and Genever Holdings Corporation is Paul Hastings LLP, 200 Park Avenue, New York, NY 10166 c/o Luc A. Despins, as Trustee for the Estate of Ho Wan Kwok (solely for purposes of notices and communications).","body_zh":"UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION（美国康涅狄格区联邦破产法院布里奇波特分院）\n\nx\n\n案件涉及：　:\n:　第 11 章\n\nHO WAN KWOK（郭文贵）,\n等，　:\n:\n:　案号 22-50073 (JAM)\n债务人。　:\n:　（合并审理）\n\nx\n关于第 11 章受托人依据《破产法典》第 105(a)、363(b)、541 及 542 条请求作出批准变现 VCTR 股份、分配收益及相关救济之命令的动议，请求限制通知范围并安排加急听证的动议\n\nLuc A. Despins（下称「受托人」）以 Ho Wan Kwok（郭文贵）（下称「债务人」）之第 11 章受托人身份，特此依据《联邦破产程序规则》（Federal Rules of Bankruptcy Procedure，下称「《破产规则》」）第 2002 条及第 9006(c)(1) 条提出动议（下称「加急动议」），请求法院作出基本格式如本动议附件 1 所示的裁定，就受托人之《依据〈破产法典〉第 105(a)、363(b)、541 及 542 条请求作出批准变现 VCTR 股份、分配收益及相关救济之命令的动议》（下称「VCTR 动议」）[2] 限制通知范围并安排加急听证。为支持本加急动议，受托人谨陈述如下：\n\n1 这些第 11 章案件中的债务人包括 Ho Wan Kwok（郭文贵，亦称 Guo Wengui、Miles Guo 及 Miles Kwok，以及其他诸多化名）（纳税人识别号后四位：9595）、Genever Holdings LLC（纳税人识别号后四位：8202）及 Genever Holdings Corporation。受托人、Genever Holdings LLC 及 Genever Holdings Corporation 的邮寄地址为 Paul Hastings LLP（普衡律师事务所）, 200 Park Avenue, New York, NY 10166 转交 Ho Wan Kwok 破产财产受托人 Luc A. Despins（仅用于接收通知及联络之目的）。\n\n2 本加急动议中使用的但未作另行定义的大写术语具有 VCTR 动议中所规定的含义。\n管辖权、审理地及法定依据\n\n1. 依据 28 U.S.C. §§ 157 及 1334，本院对审理本事项具有管辖权。依据 28 U.S.C. § 157(b)(2)，此为核心诉讼程序。\n\n2. 依据 28 U.S.C. §§ 1408 及 1409，本审区的审理地适格。\n\n3. 本动议所请求救济的依据为《破产规则》第 2002(a)(2) 条、第 2002(i) 条及第 9006(c)(1) 条。\n背景及受托人的 VCTR 动议\n\n4. 通过对债务人财务事务的调查，并在 Reverence Fund（Reverence 基金）的协助下，受托人获悉破产财产拥有 Reverence Fund 的权益，该基金是一家向机构投资者及高净值投资者募集投资并将其投资于包括证券在内的资产组合的私募股权基金。\n\n5. 债务人通过关联实体及个人，最初向 Reverence Fund 投资了约 500 万美元，作为交换，获得了该基金的有限合伙权益（即 L.P. 权益）。该权益最初通过 Sail Victory Ltd 持有，随后转让给 Lamp Capital。本院已作出 Lamp 判决，裁定 Lamp Capital 及其所有资产均属于破产财产。该财产包括上述 L.P. 权益。\n\n6. 凭借破产财产在 Reverence Fund 中的 L.P. 权益，破产财产有权获得现金和证券的分配。其中包括有权获得某些公开交易股票（即 VCTR 股份）的分配（价值约 290 万美元），以及至少 715,000.00 美元的未付现金分配。\n\n7. 受托人根据其商业判断认定，应当变现 VCTR 股份以维护其价值并符合破产财产的利益，因为这些股份存在公开交易市场，且股份价值每日都在波动。依据准予 VCTR 动议的拟议裁定条款，Reverence Fund 已同意指示 Merrill Lynch（美林）变现 VCTR 股份，扣除其费用（上限为 3,000.00 美元），并将净收益转交受托人。受托人希望尽快推进 VCTR 股份的变现，因为 VCTR 股份的价值受制于市场波动，且受托人认为，约 290 万美元的价值不应在单一公开交易股票中集中保留超过必要的时间。\n\n8. 破产财产本身在 Reverence Fund 中的 L.P. 权益亦具有价值，然而该权益不存在流动市场，变现将产生实质性成本并可能导致折价出售。因此，受托人根据其商业判断认定，破产财产应继续持有该 L.P. 权益，并收取基于该权益的任何其他分配，VCTR 动议亦同样授权前述事项。\n请求之救济\n\n9. 受托人谨请求法院作出裁定：(a) 将 VCTR 动议的送达范围限制为：(i) Office of the United States Trustee for the District of Connecticut（美国康涅狄格区受托人办公室）；(ii) Official Committee of Unsecured Creditors（无担保债权人官方委员会，下称「委员会」）；(iii) Reverence Fund 的律师；(iv) Merrill Lynch 的律师；(v) 在 Despins, Chapter 11 Trustee v. Lamp Capital LLC, et al. [Adv. Proc. No. 23-05023]（下称「Lamp Capital 附随诉讼」）中代表 Lamp Capital 出庭的律师[3]；(vi) 依据《破产规则》第 2002 条在债务人第 11 章案件中请求接收通知的所有当事人；(vii) 通过法院电子归档（「CM/ECF」）系统运作在债务人第 11 章案件中接收通知的所有当事人；以及 (viii) 虽在债务人第 11 章案件中请求接收通知，但如电子归档通知所示无法接受电子归档的任何当事人（合称「通知当事人」）；(b) 指示对 VCTR 动议的任何异议须于 2024 年 5 月 24 日或之前提交；以及 (c) 将有关 VCTR 动议的听证安排于 2024 年 5 月 28 日中午 12 时举行。\n\n3 针对 Lamp 判决作出后声称代表 Lamp Capital 行事的任何当事人的当事人资格，受托人保留一切权利。\n\n请求救济之依据\n一、 限制 VCTR 动议的送达范围\n\n10. 对于涉及「非在日常业务过程中对破产财产之拟议使用、出售或出租」的动议，《破产规则》第 2002 条通常要求通过邮寄方式向「债务人、受托人、所有债权人和契约受托人」以及依据《破产法典》第 1102 条指定的任何委员会提供至少二十一 (21) 天的通知，「除非法院因显示有正当理由而缩短时间或指示采用其他通知方式」。见《破产规则》第 2002(a) 及 (i) 条。\n\n11. 尽管有前述规定，《破产规则》第 2002(i) 条规定，法院「可命令将本规则第 (a)(2) 款……所要求的通知送达至美国受托人，并且仅邮寄至依据《破产法典》第 705 条选举产生或依据第 1102 条指定的委员会或其授权代理人，以及送达受托人或留产债务人并提交要求向其邮寄所有通知之请求的债权人和权益证券持有人」。此外，《地方破产规则》（Local Bankruptcy Rule）第 6004-2(g) 条要求出售动议「须由动议人送达至表明有意购买该财产的所有当事人」。[4]\n\n12. 在债务人的第 11 章案件中已提交了大约 1,400 份债权证明，绝大多数是由位于外国管辖区的个人提交的，且其中许多\n\n4 受托人提及《地方破产规则》第 6004-2(g) 条的本项规定仅供参考。VCTR 动议所请求的救济规定由 Reverence Fund 指示 Merrill Lynch 变现 VCTR 股份并将收益分配给受托人，而不是将 VCTR 股份分配给受托人。受托人认为，选择接收现金分配而非 VCTR 股份，至少构成在日常业务过程之外对财产的使用。\n\n人已选择对其债权证明进行保密处理（根据申报截止日期裁定）。向所有债权人送达 VCTR 动议的成本将是巨大的。\n\n13. 受托人认为，由破产财产向 1,400 多个当事人送达 VCTR 动议将构成过重的负担，特别是考虑到 VCTR 动议所请求救济的性质，该动议规定通过公开市场出售将价值波动的资产转换为稳定资产（即现金）。受托人认为，在此等情况下，仅向通知当事人送达 VCTR 动议是适当的，且符合破产财产、其债权人及其他利害关系方的最大利益。\n二、 缩短通知时间并就 VCTR 动议安排加急听证\n\n14. 此外，依据《破产规则》第 2002(a)(2) 条及第 9006(c)(1) 条，在经动议请求并证明具有正当理由的情况下，法院可以缩短通知期限。以加急程序审理和裁决 VCTR 动议存在正当理由。\n\n15. VCTR 股份是在 NASDAQ（纳斯达克）交易所公开交易的股票股份。与任何公开交易的股票一样，它们每日都面临相当大的波动。虽然 VCTR 的股价在过去六个月中有所上涨，但不能保证该股票会继续升值。\n\n16. 例如，从 2024 年 2 月 12 日到 2 月 13 日，VCTR 的价值损失了约 5.7%；从 2024 年 5 月 9 日到 5 月 10 日，VCTR 的价值损失了约 6.5%。基于该股份目前 2,893,761.75 美元的市场价值，适用于 VCTR 股份时，这种规模的下跌将相当于大约 165,000 至 188,000 美元的价值损失。\n\n17. 受托人认为，将 290 万美元集中在单一公开交易股票中的价值过高，因此应尽快变现 VCTR 股份以维护其价值。参见 In re Ngan Gung Rest., 254 B.R. 566, 570 (Bankr. S.D.N.Y. 2000)（援引 11 U.S.C. § 1106(a)）（第 11 章受托人负有「保护和维护破产财产以使向债权人的分配最大化的法定义务」）。\n\n18. 利害关系方不会因加急审理 VCTR 动议而受到损害。所请求的救济简单明了，系经 Reverence Fund 同意而寻求，并规定 Reverence Fund 通过出售公开交易股票的唯一可行程序（即以其在公开市场上的股价出售）指示变现应分配给受托人的股份。\n\n19. 上述标题所示第 11 章案件中的其他事项已定于 2024 年 5 月 28 日中午 12 时举行听证，因此将 VCTR 动议的听证安排在同一时间将提高效率并减少行政管理费用。\n此前未提出过请求\n\n20. 受托人此前未就本动议所寻求的救济向本院或任何其他法院提出过请求。\n[本页其余部分有意留白。]\n\n为此，受托人请求法院作出裁定，其格式基本如\n\n本动议附件 1 所示，并下令给予公正且适当的其他及进一步救济。\n\n康涅狄格州纽黑文\n日期：2024 年 5 月 21 日 LUC A. DESPINS，第 11 章受托人\n\n签署人：/s/ Patrick R. Linsey Patrick R. Linsey (ct29437) NEUBERT, PEPE & MONTEITH, P.C. 195 Church Street, 13th Floor New Haven, Connecticut 06510 (203) 781-2847 plinsey@npmlaw.com\n\n及\n\nNicholas A. Bassett（经特别许可出庭） PAUL HASTINGS LLP 2050 M Street NW Washington, D.C., 20036 (202) 551-1902 nicholasbassett@paulhastings.com\n\n及\n\nG. Alexander Bongartz（经特别许可出庭） Douglass Barron（经特别许可出庭） PAUL HASTINGS LLP 200 Park Avenue New York, New York 10166 (212) 318-6690 alexbongartz@paulhastings.com douglassbarron@paulhastings.com\n\n第 11 章受托人之律师\n附件 1\n\n拟议裁定\nUNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION（美国康涅狄格区联邦破产法院布里奇波特分院）\n\nx\n\n关于：\n第 11 章\nHO WAN KWOK（郭文贵）等人，\n案号：22-50073 (JAM)\n债务人。1\n合并审理\n----------------------------------------------------------- x\n[拟定] 关于第 11 章受托人依据《破产法典》第 105(a)、363(b)、541 及 542 条提起的批准清算 VCTR 股份、收益分配及相关救济之动议的限制通知与排定加急听证裁定\n\n本法院经审议旨在：(a) 限制关于依据《破产法典》第 105(a)、363(b)、541 及 542 条提起的批准清算 VCTR 股份、收益分配及相关救济之动议（以下简称“VCTR 动议”）[2] 的通知范围；(b) 缩短关于 VCTR 动议的通知期限；以及 (c) 排定审议并裁决 VCTR 动议的加急听证会的动议（以下简称“本动议”）；且依循充分理由，特此\n裁定如下：\n\n1. 本动议按本裁定所列条款予以准许。\n\n1 本批第 11 章案件中的债务人为 Ho Wan Kwok（郭文贵，亦称 Guo Wengui、Miles Guo 及 Miles Kwok，以及诸多其他别名）（纳税人识别号后四位：9595）、Genever Holdings LLC（纳税人识别号后四位：8202）以及 Genever Holdings Corporation。受托人、Genever Holdings LLC 和 Genever Holdings Corporation 的邮寄地址为 Paul Hastings LLP, 200 Park Avenue, New York, NY 10166 转交 Luc A. Despins（作为 Ho Wan Kwok 破产财团受托人）（仅用于通知与沟通目的）。\n\n2 本加急动议中已使用但未另行定义的首字母大写术语，具有 VCTR 动议中所规定的含义。\n\n2. 受托人仅可向以下各方送达 VCTR 动议：(i) 康涅狄格区美国联邦破产受托人办公室（Office of the United States Trustee for the District of Connecticut）；(ii) 无担保债权人官方委员会（Official Committee of Unsecured Creditors，以下简称“委员会”）；(iii) Reverence Fund 的代理律师；(iv) Merrill Lynch（美林）的代理律师；(v) 在 Despins, Chapter 11 Trustee v. Lamp Capital LLC, et al. [Adv. Proc. No. 23-05023] 一案中代表 Lamp Capital 出庭的代理律师；(vi) 依据《破产程序规则》第 2002 条在债务人第 11 章案件中请求接收通知的所有当事方；(vii) 依据本法院电子申报（“CM/ECF”）系统的运行在债务人第 11 章案件中接收通知的所有当事方；以及 (viii) 在债务人第 11 章案件中请求接收通知、但如《电子申报通知》所示无法接受电子申报的任何当事方（统称“受通知当事方”）。\n\n3. 在 2024 年 5 月 __ 日或之前，受托人应促使通过电子邮件或信誉良好的快递服务（对位于美国境内的当事方采取隔夜送达）向受通知当事方送达 VCTR 动议及本裁定，且受托人应在 VCTR 动议听证会举行前提交送达证明。\n\n4. 关于 VCTR 动议的听证会定于 2024 年 5 月 28 日中午 12:00 在康涅狄格区美国联邦破产法院布里奇波特分院（United States Bankruptcy Court, District of Connecticut, Bridgeport Division, 915 Lafayette Boulevard, Room 123, Bridgeport, CT 06604）举行。\n\n5. 对 VCTR 动议提出异议的截止日期为 2024 年 5 月 24 日。\n\n6. 授权受托人采取一切必要行动，依据本动议落实本裁定所准许的救济。\n\n7. 本法院保留对由本裁定的执行、解释和强制执行所引起的或与之相关的一切事项的专属管辖权。\n\n康涅狄格区美国联邦破产法院 布里奇波特分院\n\n----------------------------------------------------------- x\n\n关于：\n第 11 章\nHO WAN KWOK 等人，\n案号：22-50073 (JAM)\n债务人。7\n合并审理\n----------------------------------------------------------- x\n送达证明\n\n下述签署人特此证明，于 2024 年 5 月 21 日，上述动议已通过电子方式申报。该申报通知已依据本法院电子申报（“CM/ECF”）系统的运行通过电子邮件发送给上述标题所列第 11 章案件的所有当事方，或对于如《电子申报通知》所示无法接受电子申报的任何人，已通过美国邮政邮件寄送。各当事方可通过法院的 CM/ECF 系统查阅本次申报文件。\n\n日期：2024 年 5 月 21 日 康涅狄格州纽黑文\n\n签署人：/s/ Patrick R. Linsey Patrick R. Linsey (ct29437) NEUBERT, PEPE & MONTEITH, P.C. 195 Church Street, 13th Floor New Haven, Connecticut 06510 (203) 781-2847 plinsey@npmlaw.com\n\n7 本批第 11 章案件中的债务人为 Ho Wan Kwok（亦称 Guo Wengui、Miles Guo 及 Miles Kwok，以及诸多其他别名）（纳税人识别号后四位：9595）、Genever Holdings LLC（纳税人识别号后四位：8202）以及 Genever Holdings Corporation。受托人、Genever Holdings LLC 和 Genever Holdings Corporation 的邮寄地址为 Paul Hastings LLP, 200 Park Avenue, New York, NY 10166 转交 Luc A. Despins（作为 Ho Wan Kwok 破产财团受托人）（仅用于通知与沟通目的）。","key_entities":["Kwok","Ho Wan Kwok","Despins","Guo","Paul Hastings","Je","Miles Guo"],"ecf_references":[],"word_count":2834,"status":"published","published_at":null,"created_at":null,"updated_at":"2026-08-23 13:29:53"}