{"id":"court_ctb_928_0","court":"CTB","case_no":"22-50073","doc_number":928,"sub_number":0,"doc_type":"ORDER","filed_date":null,"title":"UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION In re:","summary_zh":null,"summary_en":null,"body_en":"## **UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION**\n\nIn re:\n\nChapter 11\n\nCase No: 22-50073 (JAM)\n\nHO WAN KWOK,\n\nDebtor.\n\n## **CONSENT ORDER GRANTING HK INTERNATIONAL FUNDS INVESTMENTS (USA) LIMITED, LLC'S MOTION FOR ORDER ESTABLISHING REPAIR RESERVE FOR THE LADY MAY**\n\n Upon the Motion for Order Establishing Repair Reserve for the Lady May (the \"Motion\") filed pursuant to this Court's Stipulated Order Compelling HK International Funds Investments (USA) Limited, LLC to Transport and Deliver that Certain Yacht, the \"Lady May\" (the \"Stipulated Order\") by HK International Funds Investments (USA) Limited, LLC (\"HK USA\"), which seeks an order establishing the repair reserve (the \"Repair Reserve\") required by the Stipulated Order, including the amount of the Repair Reserve equaling \\$4,000,000.00 (the \"Repair Reserve Amount\") and certain ancillary relief as set forth therein; the Court having scheduled an evidentiary hearing for Friday, October 7, 2022 at 10:00 a.m. (the \"Hearing\") to consider the relief requested by the Motion and any objections thereto; upon Pacific Alliance Asia Opportunity Fund L.P.'s Limited Objection to HK International Funds Investments (USA) Limited, LLC's Motion to Establish Repair Reserve for the Lady May [ECF No. 871] and the Joinder of the Official Committee of Unsecured Creditors in Pacific Alliance Asia Opportunity Fund L.P.'s Limited Objection to HK International Funds Investments (USA) Limited, LLC's Motion to Establish Repair Reserve for the Lady May [ECF No. 873] (collectively, the \"Limited Objections\"); upon further the written consent to the entry of this Order in resolution of the Motion and the Limited Objections by (a) each of the parties to the Stipulated Order, namely, the debtor, Ho Wan Kwok,\n\nHK USA, the Official Committee of Unsecured Creditors appointed in this case, and the creditors, Pacific Alliance Asia Opportunity Fund L.P., Rui Ma and Zheng Wu, as well as (b) the trustee appointed in this case, Luc A. Despins (the \"Trustee\"), delivered to counsel for HK USA; [1](#page-1-0) and finally upon consideration of the Motion and the relief requested appearing to this Court to be necessary and appropriate to carry out the orderly operation of the Debtor's estate and, in particular, the effectuation of the procedures set forth in the Stipulated Order; due and sufficient notice of the Motion having been given under the particular circumstances; and after due deliberation and sufficient cause appearing therefor, it is hereby:\n\n**ORDERED** that the Motion is hereby **GRANTED** to the extent set forth herein, the Limited Objections have been resolved as set forth herein and, therefore, are hereby **WITHDRAWN,** and the Repair Reserve required by the Stipulated Order and requested in the Motion, including the Repair Reserve Amount equaling \\$4,000,000.00, is hereby authorized, approved and established subject to the terms and conditions of this Order as follows:\n\n(i) The Trustee shall hold the Repair Reserve Amount as escrow agent in the Trustee's section 345 bank account (the \"Trustee's Bank Account\") solely for the purpose of securing the completion of the service, maintenance, and repairs required to be performed to restore the Lady May to good working order in accordance with the Stipulated Order, specifically, paragraph 11 (the \"Required Repairs\") and this Order; provided, however, that the Repair Reserve Amount shall be held in the Trustee's Bank Account as if segregated from all other funds in such account, and\n\n<span id=\"page-1-0\"></span><sup>1</sup> Nothing in this Order, nor the Trustee's participation in formulating this Order, shall be deemed to affect whether or not the Trustee is a party to or subject to the Stipulated Order, and all parties' rights in this regard are reserved including, but not limited to, the Debtor's and HK USA's position that the Trustee is, in fact, a party to and subject to the terms and conditions of the Stipulated Order.\n\nthe Trustee shall not be able to use or disburse any of the Repair Reserve Amount except as provided in this Order;\n\n- (ii) HK USA shall cause the service, maintenance, and repairs set forth in the proposals appended hereto as **Exhibit A** to be performed at Bridgeport Boatworks, 731 Seaview Avenue, Bridgeport, Connecticut, to repair the fuel pump/engines, repair the paint on the starboard bow section of the hull, fabricate and install bilge boards for center bilge, and service the starboard and port main engines (after repairs) on the Lady May (the \"Initial Work\");\n- (iii) The \"Valve Service\" described in the Motion, and any other Required Repairs (i) not included in the Initial Work or (ii) not known at this time but discovered in connection with either the Initial Work or the Valve Service (the \"Remaining Work\"), shall be performed at a later date to be determined (but shall be completed in no event later than on or before seven (7) months after the entry of this Order which deadline may be extended for good cause shown), subject to further order of this Court in accordance with the Stipulated Order;\n- (iv) To fund the Repair Reserve, this Court shall by separate Order direct the \"Escrow Agent\" to disburse from the \"Escrow Funds\" (as these terms are used in the Stipulated Order) to the Trustee good funds in the Repair Reserve Amount, which transfer shall establish the Repair Reserve in accordance with Section 11 of the Stipulated Order;[2](#page-2-0)\n\n<span id=\"page-2-0\"></span><sup>2</sup> For the avoidance of doubt, and notwithstanding anything to the contrary in this Order, nothing in this Order, shall affect the status of the remaining Escrow Funds (i.e., the other \\$33 million) other than the second to last decretal paragraph of this Order which provides that HK USA has performed and satisfied its obligation to establish the Repair Reserve in accordance with Section 3(v) and 11 of the Stipulated Order.\n\n- (v) The Trustee shall pay from the Repair Reserve Amount the expenses (including any required deposits)) incurred to perform the Required Repairs or to pay the Insurance Deductible (as defined in the Motion) without further notice if such expenses are in accordance with the estimates set forth in **Exhibit A**, or if such expenses are not in accordance with such estimates, upon either:\n\t- a. The written consent of HK USA and the Trustee; or\n\t- b. The order of this Court following a motion seeking such relief and after due notice and a hearing;\n\nTo the extent that the Trustee and his advisors spend more than ten (10) hours in any given month related to the administration of payments from the Repair Reserve, the corresponding fees shall be paid out of the Repair Reserve;\n\n- (vi) Notwithstanding anything herein to the contrary, the Trustee shall not be, nor required to be, a party to any contract (including any work orders) related to the Required Repairs, and the Trustee shall have no liability whatsoever to any person providing goods or services related to the Required Repairs, except that the Trustee shall be required to pay expenses in accordance with, and subject to the terms of, this Order;\n- (vii) In the event and to the extent the Repair Reserve Amount is insufficient to fund fully and pay for the Required Repairs (\"Repair Reserve Shortfall\"), HK USA shall immediately deliver to the Trustee the Repair Reserve Shortfall (i) if funds are still held by the Escrow Agent, by seeking an Order from this Court directing the Escrow Agent to disburse good funds to the Trustee from the Escrow Funds; and/or (ii) by transferring good funds to the Trustee from other, non-escrowed sources.\n\nAny dispute with respect to the Repair Reserve Shortfall shall be heard by this Court upon motion of any party and after due notice and a hearing and, once determined by this Court, HK USA shall immediately deliver the Repair Reserve Shortfall to the Trustee to be held by Trustee in accordance with this Order;\n\n- (viii) After completion of the Initial Work and then again after the completion of all Required Repairs, including, but not limited to the Valve Service, HK USA shall (a) obtain documentation from (i) Bridgeport Boatworks or such other third-party contractor that provided the corresponding Required Repairs, and (ii) Lloyd's Register of Shipping or the American Bureau of Shipping, certifying that the corresponding Required Repairs have been completed (the \"Repair Certifications\") and (b) promptly cause the Lady May to be moved from dry dock into water;\n- (ix) Promptly upon receipt of a Repair Certifications, HK USA shall provide copies thereof to the Trustee, who shall then have a right to timely inspect the Lady May to confirm the completion of the corresponding Required Repairs (each, the \"Trustee Inspection,\" and, the final Trustee Inspection after the completion of all Required Repairs, the \"Final Trustee Inspection\"). Any costs associated with a Trustee Inspection shall be borne by the Debtor's estate. If a Trustee Inspection does not commence within 15 days of the later of the Trustee's receipt of the Repair Certification or the Lady May having been moved from dry dock into water, the Trustee waives its right to conduct the Trustee Inspection. For the avoidance of doubt, each Trustee Inspection may include a sea trial, at the sole discretion of the Trustee, which sea trial HK USA shall reasonably accommodate;\n- (x) Upon completion of the Initial Work and the Trustee Inspection with respect to the Initial Work or upon the Trustee's waiver of his right to inspect the Initial Work as set forth above, and in the event and to the extent the Repair Reserve Amount exceeds the amount reasonably necessary to secure the payment of the Remaining Required Repairs (\"Repair Reserve Excess\") including, but not limited to, the Remaining Work, this Court, upon motion of HK USA filed on or after November 15, 2022, and after due notice and a hearing, shall determine the Repair Reserve Excess, if any, and shall order the Trustee to transfer such Repair Reserve Excess to HK USA or, in the event this Court has entered an order granting a prejudgment remedy against HK USA and such prejudgment remedy is not otherwise fully secured, the Trustee shall continue to hold such Repair Reserve Excess subject to and in accordance with the order granting prejudgment remedy;\n- (xi) Upon completion of the Final Trustee Inspection, or upon the Trustee's waiver of his right to inspect as set forth above, and in the event and to the extent the Repair Reserve Amount exceeds the amount that was necessary to pay for the Required Repairs (including, but not limited to, the Initial Work and the Valve Service), this Court, upon motion of HK USA and after due notice and a hearing, and once determined by this Court that the Required Repairs have been fully performed, shall order the Trustee to transfer any excess Repair Reserve funds to HK USA or, in the event this Court has entered an order granting a prejudgment remedy in favor of the Trustee and against HK USA and such prejudgment remedy is not otherwise fully secured, the Trustee shall continue to hold such excess subject to and in accordance with the order granting prejudgment remedy;\n\n(xii) HK USA shall cause any and all insurance proceeds payable on account of the Required Repairs to be paid either (i) to the entity performing the Required Repairs to pay for such Required Repairs or (ii) to the Trustee to be incorporated into and held as part of the Repair Reserve subject to the terms and conditions of this Order; and HK USA shall further promptly upon receipt of any such insurance proceeds provide the Trustee with documentation establishing that it has complied with this paragraph; and it is further\n\n**ORDERED**, that, by this Order, HK USA has performed and satisfied its obligation to establish the Repair Reserve in accordance with Section 3(v) and 11 of the Stipulated Order; provided, however, that HK USA shall not file with this Court the \"HK USA Certification\" as permitted by paragraph 3 of the Stipulated Order before November 3, 2022; and it is finally\n\n**ORDERED**, that the Hearing is marked off.","body_zh":"UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION（美国康涅狄格区破产法院布里奇波特分部）\n\n关于：\n\n第 11 章\n\n案号：22-50073 (JAM)\n\nHO WAN KWOK（郭文贵），\n\n债务人。\n关于准予 HK INTERNATIONAL FUNDS INVESTMENTS (USA) LIMITED, LLC 就设立 LADY MAY 号游艇维修储备金所提动议的同意令\n\n鉴于，HK International Funds Investments (USA) Limited, LLC（“HK USA”）依据本法院作出的《关于强制 HK International Funds Investments (USA) Limited, LLC 运输并交付该特定游艇“Lady May”号的约定裁定》（“《约定裁定》”）提交了《关于设立 Lady May 号游艇维修储备金裁定的动议》（“《动议》”），请求作出裁定以设立《约定裁定》所要求的维修储备金（“维修储备金”），包括金额为 $4,000,000.00 的维修储备金（“维修储备金金额”）以及其中所载的若干附随救济；本法院已定于 2022 年 10 月 7 日星期五上午 10:00 举行证据听证会（“听证会”），以审理《动议》所请求的救济及针对该动议的任何异议；鉴于 Pacific Alliance Asia Opportunity Fund L.P.（太盟亚洲机会基金有限公司）针对 HK International Funds Investments (USA) Limited, LLC 关于设立 Lady May 号游艇维修储备金之动议所提出的有限异议 [ECF No. 871]，以及本案官方无担保债权人委员会加入太盟亚洲机会基金有限公司针对 HK International Funds Investments (USA) Limited, LLC 关于设立 Lady May 号游艇维修储备金之动议所提有限异议的申请 [ECF No. 873]（统称“有限异议”）；进一步鉴于，(a)《约定裁定》的各方当事人，即债务人郭文贵、\n\nHK USA、本案中任命的官方无担保债权人委员会，以及债权人太盟亚洲机会基金有限公司、Rui Ma（马蕊）和 Zheng Wu（吴征），以及 (b) 本案中任命的受托人 Luc A. Despins（“受托人”），均已向 HK USA 的代理律师送达书面同意签署本裁定以解决《动议》及有限异议；[1] 以及最终鉴于，经审议《动议》及所请求的救济，本法院认为该等救济对于有序管理债务人破产财产，特别是落实《约定裁定》中所规定的程序而言是必要且适当的；在特定情况下已就《动议》给予充分且适当的通知；并在经充分审议且存在充分理由后，特此：\n\n裁定如下：在本文所载范围内准予《动议》，有限异议已按本文所载得到解决并因此特此撤回，《约定裁定》所要求且在《动议》中请求设立的维修储备金（包括金额为 $4,000,000.00 的维修储备金金额）在符合本裁定条款和条件的前提下特此获得授权、批准并予以设立，具体如下：\n\n(i) 受托人应作为托管代理人，将维修储备金金额存放于受托人依据第 345 条开立的银行账户（“受托人银行账户”）中，其唯一目的为担保完成为使 Lady May 号恢复良好运行状态而依据《约定裁定》（特别是第 11 段）（“规定维修项”）及本裁定必须履行的检修、维护及修理工作；但是，维修储备金金额在受托人银行账户中应如同独立于该账户中的所有其他资金一样予以单独存放，且\n\n1 本裁定中的任何内容，以及受托人参与制定本裁定的行为，均不得被视为影响受托人是否为《约定裁定》的当事方或是否受其约束，且所有当事方在此方面的权利均予以保留，包括但不限于债务人及 HK USA 持有的关于受托人实际上是《约定裁定》当事方并受其条款和条件约束的主张。\n\n受托人除按本裁定规定外，不得使用或支付任何维修储备金金额；\n\n- (ii) HK USA 应促使作为本裁定附件 A 所附提案中载明的检修、维护和修理工作在康涅狄格州布里奇波特市海景大道 731 号的 Bridgeport Boatworks 进行，以对 Lady May 号修理燃油泵/发动机、修补船体右舷船艏部位油漆、制造并安装中央底舱的舱底板，以及检修右舷和左舷主机（修理完成后）（“初期工程”）；\n- (iii) 《动议》中所述的“阀门检修”，以及 (i) 未包含在初期工程中或 (ii) 目前未知但在与初期工程或阀门检修相关过程中发现的任何其他规定维修项（“剩余工程”），应在日后待定的日期进行（但在任何情况下均不得迟于本裁定作出之日起七 (7) 个月内完成，该期限可因正当理由而获延长），并须依据《约定裁定》遵循本法院的进一步裁定；\n- (iv) 为向维修储备金注资，本法院应通过单独裁定向“托管代理人”发出指示，要求其从“托管资金”（按《约定裁定》中使用的定义）中向受托人拨付维修储备金金额的可用资金，该等转账应根据《约定裁定》第 11 条设立维修储备金；[2]\n\n2 为免生疑问，且尽管本裁定中有任何相反规定，除本裁定倒数第二段规定 HK USA 已履行并满足其依据《约定裁定》第 3(v) 条和第 11 条设立维修储备金的义务外，本裁定中的任何内容均不影响剩余托管资金（即另外的 3300 万美元）的地位。\n\n- (v) 受托人应从维修储备金金额中支付为履行规定维修项或支付保险免赔额（定义见《动议》）所发生的费用（包括任何所需的押金），若该等费用符合附件 A 中列明的估算金额，则无需另行通知即可支付；若该等费用不符合该等估算金额，则须符合以下任一条件方可支付：\n\t- a. 取得 HK USA 与受托人的书面同意；或\n\t- b. 在提出请求该等救济的动议并经适当通知和听证后，由本法院作出裁定；\n\n在受托人及其顾问在任何给定月份中因管理维修储备金款项支付而花费超过十 (10) 小时的情况下，相应的费用应从维修储备金中支付；\n\n- (vi) 尽管本裁定中有任何相反规定，受托人概不是、亦无需成为与规定维修项相关的任何合同（包括任何工单）的当事方，受托人对提供与规定维修项相关的商品或服务的任何人均不承担任何责任，但受托人须按照本裁定并受其条款约束支付相关费用；\n- (vii) 若维修储备金金额不足以全额注资并支付规定维修项（“维修储备金缺口”），且在不足的限度内，HK USA 应立即向受托人补足维修储备金缺口，方式为 (i) 若资金仍由托管代理人持有，通过向本法院申请裁定，指示托管代理人从托管资金中向受托人划拨可用资金；及/或 (ii) 通过从其他非托管来源向受托人转账可用资金。\n\n关于维修储备金缺口的任何争议，应在任何当事方提出动议并经适当通知和听证后由本法院审理；一经本法院裁定，HK USA 应立即将维修储备金缺口款项交付给受托人，由受托人按照本裁定予以持有；\n\n- (viii) 在初期工程完成后，以及在所有规定维修项（包括但不限于阀门检修）全部完成后，HK USA 均应 (a) 从 (i) Bridgeport Boatworks 或提供相应规定维修项的其他第三方承包商，以及 (ii) Lloyd's Register of Shipping（英国劳氏船级社）或 American Bureau of Shipping（美国船级社）处获取证明相应规定维修项已完成的文件（“维修证明文件”），并 (b) 及时促使 Lady May 号从干船坞移入水中；\n- (ix) HK USA 一旦收到维修证明文件，应立即向受托人提供其副本，受托人随后有权及时对 Lady May 号进行检验，以确认相应规定维修项的完成情况（每次称为“受托人检验”，全部规定维修项完成后的最终受托人检验称为“最终受托人检验”）。与受托人检验相关的任何费用均应由债务人破产财产承担。若受托人检验未在受托人收到维修证明文件或 Lady May 号从干船坞移入水中（以较晚者为准）后的 15 日内启动，则受托人放弃进行受托人检验的权利。为免生疑问，受托人可全权酌情决定每次受托人检验是否包含试航，HK USA 应为该试航提供合理配合；\n- (x) 在初期工程及针对初期工程的受托人检验完成之后，或在受托人按上文所述放弃其检验初期工程的权利之后，若维修储备金金额超出合理保障支付剩余规定维修项（包括但不限于剩余工程）所需的金额（“维修储备金结余”），且在超出限度内，本法院在 HK USA 于 2022 年 11 月 15 日或之后提交动议并经适当通知和听证后，应确定维修储备金结余（如有），并应裁定受托人将该等维修储备金结余转交予 HK USA；或者，若本法院已作出裁定准予对 HK USA 采取判决前救济且该判决前救济未获得其他充分担保，受托人应继续按照准予判决前救济的裁定持有该等维修储备金结余并受其约束；\n- (xi) 在最终受托人检验完成之后，或在受托人按上文所述放弃其检验权利之后，若维修储备金金额超出支付规定维修项（包括但不限于初期工程和阀门检修）所需的金额，且在超出限度内，本法院在 HK USA 提出动议并经适当通知和听证后，且在本法院认定规定维修项已全部履行完毕后，应裁定受托人将任何结余的维修储备金转交予 HK USA；或者，若本法院已作出裁定准予受托人对 HK USA 采取判决前救济且该判决前救济未获得其他充分担保，受托人应继续按照准予判决前救济的裁定持有该等结余并受其约束；\n\n(xii) HK USA 应促使就规定维修项应付的任何及所有保险赔偿金支付至 (i) 履行规定维修项的实体以支付该等规定维修项，或 (ii) 受托人处以并入维修储备金并按照本裁定的条款和条件作为其一部分予以持有；且 HK USA 在收到任何该等保险赔偿金后，应进一步立即向受托人提供证明其已遵守本段规定的文件；并且特此进一步\n\n裁定，通过本裁定，HK USA 已履行并满足其依据《约定裁定》第 3(v) 条和第 11 条设立维修储备金的义务；但是，在 2022 年 11 月 3 日之前，HK USA 不得向本法院提交《约定裁定》第 3 段所允许的“HK USA 证明文件”；并且特此最终\n\n裁定，取消本次听证会。","key_entities":["Je","Kwok","Ho Wan Kwok","Despins","CIPA"],"ecf_references":[{"doc_number":871,"court":"CTB"},{"doc_number":873,"court":"CTB"}],"word_count":1990,"status":"published","published_at":null,"created_at":null,"updated_at":"2026-08-23 13:02:06"}