{"id":"court_ctb_928_2","court":"CTB","case_no":"22-50073","doc_number":928,"sub_number":2,"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\nHO WAN KWOK,\n\nDebtor.\n\nCase No: 22-50073 (JAM)\n\n## **[PROPOSED]CONSENT ORDER GRANTING HK INTERNATIONAL FUNDS INVESTMENTS (USA) LIMITED, LLC'S MOTION FOR ORDER ESTABLISHING REPAIR RESERVE FOR THE LADY MAY**\n\nUpon 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; andthe 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 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 appointed in this case, Luc A. Despins (or any successor thereto) (the \"Trustee\"),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\n\n<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\naccount, and the 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\n\n<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. 3 ; and it is finally\n\n**ORDERED**, that the Hearing is marked off.\n\n<sup>3</sup> Nothing in this Order, nor the Trustee's participation in formulating this Order, shall be deemed to affect whether the Trustee is a party to or subject to the Stipulated Order, and all parties' rights in this regard are reserved.","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院）\n\nIn re:（关于：）\n\n第 11 章\n\nHO WAN KWOK（郭文贵），\n\n债务人。\n\n案号：22-50073 (JAM)\n[拟定]关于准予 HK INTERNATIONAL FUNDS INVESTMENTS (USA) LIMITED, LLC 就设立 LADY MAY 号游艇维修准备金之动议的同意令\n\n鉴于 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”）依据本法院作出的《关于强制 HK International Funds Investments (USA) Limited, LLC 运输及交付名为“Lady May”号特定游艇的约定裁定》（“《约定裁定》”）提交了《关于设立 Lady May 号维修准备金之裁定的动议》（“《动议》”），该动议请求法院作出裁定，设立《约定裁定》所要求的维修准备金（“维修准备金”），包括金额为 $4,000,000.00 的维修准备金（“维修准备金金额”）以及其中载明的若干附带救济；且本法院已定于 2022 年 10 月 7 日星期五上午 10:00 举行证据听证会（“听证会”），以审议《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.（太平洋联盟亚洲机会基金有限合伙，简称“PAX”）提交的《对 HK International Funds Investments (USA) Limited, LLC 关于设立 Lady May 号维修准备金之动议的有限异议》[ECF No. 871]，以及本案指定的无担保债权人官方委员会提交的《关于参与 Pacific Alliance Asia Opportunity Fund L.P. 对 HK International Funds Investments (USA) Limited, LLC 关于设立 Lady May 号维修准备金之动议的有限异议的附议》[ECF No. 873]（合称“有限异议”）；鉴于 (a) 《约定裁定》的各方当事人，即债务人 Ho Wan Kwok（郭文贵）、\n\nHK USA、本案中指定的无担保债权人官方委员会，以及债权人 Pacific Alliance Asia Opportunity Fund L.P.、Rui Ma（马蕊）和 Zheng Wu（武振），以及 (b) 本案指定的破产受托人 Luc A. Despins（“受托人”），已向 HK USA 的代理律师送达书面同意，同意签署本裁定以解决《动议》及有限异议；1 且最后，经本法院审议《动议》及其请求的救济后，认为本裁定对于维持债务人财产的有序运作，特别是落实《约定裁定》所载程序而言是必要且适当的；且在特定情况下已就《动议》给出了充分且适当的通知；经正当审议且确有充分理由，特此：\n\n裁定：《动议》在此依本裁定所载范围予以准予，有限异议已按本裁定所载方式得以解决并因此予以撤回，《约定裁定》所要求且《动议》中所请求的维修准备金（包括金额为 $4,000,000.00 的维修准备金金额）特此获得授权、批准并根据本裁定的以下条款和条件予以设立：\n\n(i) 本案指定的受托人 Luc A. Despins（或其任何继任者）（“受托人”），受托人应作为托管代理人，将维修准备金金额存放在受托人的第 345 条银行账户（“受托人银行账户”）中，仅用于担保完成按照《约定裁定》（特别是第 11 段）（“规定维修项目”）及本裁定恢复 Lady May 号良好运行状态所必需的服务、维护和维修工作；但是，维修准备金金额应在受托人银行账户中予以存放，如同与该账户中的所有其他资金相隔离一样，且除本裁定规定外，受托人不得使用或拨付任何维修准备金金额；\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属于《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和 HK USA 主张受托人实际上是《约定裁定》的当事方并受其条款和条件约束的立场。\n\n- (ii) HK USA 应促使本裁定附件 A 中所附提案列明的服务、维护和维修工作在位于 Connecticut（康涅狄格州）Bridgeport（布里奇波特）Seaview Avenue 731 号的 Bridgeport Boatworks 船厂进行，以维修 Lady May 号上的燃油泵/发动机、修复船体右舷船首部分的油漆、制作并安装中央舱底的舱底板，以及（维修后）对右舷和左舷主发动机进行维护（“初始工程”）；\n- (iii) 《动议》中所述的“阀门维护”，以及 (i) 未包含在初始工程中或 (ii) 目前未知但在进行初始工程或阀门维护过程中发现的任何其他规定维修项目（“剩余工程”），应在日后确定的日期进行（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，该期限经说明正当理由后可予以延长），并须依照《约定裁定》服从本法院的进一步裁定；\n- (iv) 为向维修准备金注资，本法院应通过单独裁定指示“托管代理人”从“托管资金”（按《约定裁定》中所使用的术语）中向受托人拨付相当于维修准备金金额的有效资金，该转账应按照《约定裁定》第 11 条设立维修准备金；2\n\n2 为免生疑问，且无论本裁定是否有任何相反规定，除本裁定倒数第二段规定 HK USA 已履行并满足其根据《约定裁定》第 3(v) 条和第 11 条设立维修准备金的义务外，本裁定中的任何内容均不得影响剩余托管资金（即其余的 3300 万美元）的地位。\n\n- (v) 若为进行规定维修项目或支付保险免赔额（定义见《动议》）而产生的费用（包括任何要求的押金）符合附件 A 所列的预估金额，受托人应从维修准备金金额中支付该等费用而无需另行通知；若该等费用不符合上述预估金额，则在满足以下任一条件时支付：\n\t- a. 获得 HK USA 和受托人的书面同意；或\n\t- b. 在提出请求此类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如果受托人及其顾问在任何给定月份中因管理维修准备金支付事宜花费超过十 (10) 个小时，则相应费用应从维修准备金中支付；\n\n- (vi) 无论本裁定是否有任何相反规定，受托人均不是、亦不被要求成为与规定维修项目相关的任何合同（包括任何工作工单）的当事方，且受托人对提供与规定维修项目相关的货物或服务的任何人不承担任何责任，但受托人须按照本裁定并受其条款约束支付费用；\n- (vii) 如果且在维修准备金金额不足以全额资助并支付规定维修项目（“维修准备金缺口”）的情况下，HK USA 应立即向受托人交付维修准备金缺口，方式为：(i) 如果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拨付有效资金；及/或 (ii) 通过从其他非托管来源向受托人转账有效资金。\n\n有关维修准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；一旦本法院作出裁定，HK USA 应立即将维修准备金缺口交付给受托人，由受托人按照本裁定持有；\n\n- (viii) 在初始工程完工后，以及在包括但不限于阀门维护在内的所有规定维修项目完工后，HK USA 应 (a) 从 (i) Bridgeport Boatworks 或提供相应规定维修项目的其他第三方承包商，以及 (ii) 英国劳氏船级社（Lloyd's Register of Shipping）或美国船级社（American Bureau of Shipping）处获取证明相应规定维修项目已完成的文件（“维修证明”），并且 (b) 及时促使 Lady May 号从干船坞移至水中；\n- (ix) HK USA 在收到维修证明后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目的完成情况（每次检验称为“受托人检验”，在所有规定维修项目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应由债务人财产承担。如果受托人检验未在受托人收到维修证明或 Lady May 号从干船坞移至水中（以较晚者为准）后 15 天内开始，则受托人放弃其进行受托人检验的权利。为免生疑问，每次受托人检验均可由受托人全权决定是否包含试航，HK USA 应为该试航提供合理协助；\n- (x) 在初始工程以及针对初始工程的受托人检验完成之后，或者在受托人如上所述放弃其检验初始工程的权利之后，如果且在维修准备金金额超出担保支付剩余规定维修项目（包括但不限于剩余工程）合理所需金额（“多余维修准备金”）的情况下，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，应确定多余维修准备金（如有），并应裁定受托人将该等多余维修准备金转交至 HK USA；或者，在本法院已作出裁定准予对 HK USA 采取审前救济且该等审前救济尚未得到其他完全担保的情况下，受托人应继续受制于并按照准予审前救济的裁定持有该等多余维修准备金；\n- (xi) 在最终受托人检验完成之后，或者在受托人如上所述放弃其检验权利之后，如果且在维修准备金金额超出支付规定维修项目（包括但不限于初始工程和阀门维护）所需金额的情况下，本法院在 HK USA 提出动议并经适当通知和听证后，一旦由本法院认定规定维修项目已全部履行完毕，应裁定受托人将任何多余的维修准备金资金转交至 HK USA；或者，在本法院已作出裁定准予对 HK USA 采取有利于受托人的审前救济且该等审前救济尚未得到其他完全担保的情况下，受托人应继续受制于并按照准予审前救济的裁定持有该等多余资金；\n\n(xii) HK USA 应促使因规定维修项目而应付的任何及所有保险赔付款项支付给：(i) 履行规定维修项目的实体以支付该等规定维修项目费用，或 (ii) 受托人以纳入并作为维修准备金的一部分按照本裁定的条款和条件予以持有；且 HK USA 在收到任何此类保险赔付款项后，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；特此进一步裁定\n\n裁定：根据本裁定，HK USA 已履行并满足其根据《约定裁定》（Stipulated Order）第 3(v) 条和第 11 条设立维修准备金（Repair Reserve）的义务；但前提是，HK USA 不得在 2022年11月3日 之前向本法院提交《约定裁定》第 3 款所允许的「HK USA 证明」（HK USA Certification）3；最后\n\n裁定：听证会予以注销。\n\n3 本裁定中的任何内容，以及受托人（Trustee）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》的当事方或受其约束，且所有当事方在此方面的权利均予以保留。","key_entities":["Je","Kwok","Ho Wan Kwok","Despins","CIPA"],"ecf_references":[{"doc_number":871,"court":"CTB"},{"doc_number":873,"court":"CTB"}],"word_count":2045,"status":"published","published_at":null,"created_at":null,"updated_at":"2026-08-23 13:03:11"}