{"id":"court_ctb_929_0","court":"CTB","case_no":"22-50073","doc_number":929,"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\nHO WAN KWOK,\n\nDebtor.\n\nChapter 11\n\nCase No: 22-50073 (JAM)\n\nRe: ECF Nos. 299 and 728\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,\" ECF No. 299) 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, HK 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 in the form attached hereto as **Exhibit B** 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 will not be held in light of the entry of this Consent Order.","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\n关于：\n\nHO WAN KWOK（郭文贵），\n\n债务人。\n\n第 11 章\n\n案号：22-50073 (JAM)\n\n涉及：ECF 编号 299 及 728\n准予 HK INTERNATIONAL FUNDS INVESTMENTS (USA) LIMITED, LLC 就设立 LADY MAY 号维修准备金动议的同意裁定\n\n鉴于 HK International Funds Investments (USA) Limited, LLC（“HK USA”）依据本法院作出的《强令 HK International Funds Investments (USA) Limited, LLC 运输并交付特定游艇“Lady May”号的约定裁定》（《约定裁定》，ECF No. 299）提交了《设立 Lady May 号维修准备金裁定的动议》（“动议”），该动议请求作出一项裁定，以设立《约定裁定》所要求的维修准备金（“维修准备金”），包括金额等于 $4,000,000.00 的维修准备金（“维修准备金金额”）以及其中所载的若干附随救济；法院已安排于 2022 年 10 月 7 日星期五上午 10:00 举行证据听证会（“听证会”），以审议该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）针对 HK International Funds Investments (USA) Limited, LLC 设立 Lady May 号维修准备金动议提出的《有限异议》[ECF No. 871] 以及本案中获委任的无担保债权人官方委员会针对 Pacific Alliance Asia Opportunity Fund L.P. 提出的《有限异议》的《加入申请》[ECF No. 873]（合称“有限异议”）；再鉴于为解决该动议及有限异议，以下各方已将同意作出本裁定的书面同意书送达 HK USA 的法律顾问：(a) 《约定裁定》的各方当事人，即债务人 Ho Wan Kwok（郭文贵）、HK USA、本案中获委任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) 本案中获委任的受托人 Luc A. Despins（“受托人”）；[1] 最后鉴于法院经审理认为，该动议及所请求的救济对于有序开展债务人破产财产的运作，特别是落实《约定裁定》中所规定的程序而言，乃属必要且适当；在特定情况下已就该动议给予了适当且充分的通知；且经慎重审议并有充分理由支持，现裁定如下：\n\n裁定：在该动议本文所述范围内特此予以准予，有限异议已按本文所述获得解决并因此特此撤回，且特此授权、批准并设立《约定裁定》所要求且在动议中所请求的维修准备金（包括等于 $4,000,000.00 的维修准备金金额），但须遵守本裁定的以下条款和条件：\n\n(i) 受托人应作为托管代理人，将维修准备金金额保管于受托人的第 345 条银行账户（“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根据《约定裁定》（特别是第 11 段）（“必要维修”）及本裁定所需进行的服务、维护和修理；但前提是，维修准备金金额在受托人银行账户中保管时应视同与该账户中的所有其他资金相隔离，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》的一方当事人或是否受其约束，所有当事人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》的一方当事人并受其条款和条件约束的立场。\n\n受托人除按本裁定规定外，不得使用或支付任何维修准备金金额；\n\n- (ii) HK USA 应促使本裁定附件 A 中所附提案里列明的服务、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（731 Seaview Avenue, Bridgeport, Connecticut）的 Bridgeport Boatworks 船厂进行，以修理 Lady May 号上的燃油泵/发动机、修补船体右舷船首部分的油漆、制作并安装中央舱底的舱底板，以及对 Lady May 号上的右舷和左舷主机进行检修（修理后）（“初始工程”）；\n- (iii) 动议中所述的“阀门检修”，以及任何其他 (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检修时发现的必要维修（“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后七 (7) 个月内完成，该期限在说明充分理由后可予延长），并须遵循本法院依据《约定裁定》作出的进一步命令；\n- (iv) 为向维修准备金提供资金，本法院应通过形式如本裁定附件 B 所示的单独裁定，指示“托管代理人”从“托管资金”（按《约定裁定》中使用之定义）中向受托人划拨维修准备金金额的有效资金，该等划拨应依据《约定裁定》第 11 条设立维修准备金；[2]\n\n2 为免生疑问，且尽管本裁定中有任何相反规定，本裁定中的任何内容均不影响其余托管资金（即另外的 3300 万美元）的地位，但本裁定倒数第二段裁定除外，该段规定 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。\n\n- (v) 若费用符合附件 A 中列明的估算金额，受托人应从维修准备金金额中支付为进行必要维修而产生的费用（包括任何所需的押金）或支付保险免赔额（如动议中所定义），无需进一步通知；若该等费用不符合该等估算金额，则须经以下任一途径方可支付：\n\t- a. 经 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会后，由本法院作出裁定；\n\n若受托人及其顾问在任何给定月份中处理与维修准备金支付管理相关的事务超过十 (10) 小时，相应的费用应从维修准备金中支付；\n\n- (vi) 尽管本文有任何相反规定，受托人不得成为、亦无需成为与必要维修相关的任何合同（包括任何工单）的当事人，受托人对提供与必要维修相关的商品或服务的任何人不承担任何责任，但受托人须按照并根据本裁定的条款支付费用；\n- (vii) 若维修准备金金额不足以全额资助并支付必要维修费用（“维修准备金差额”），HK USA 应在发生此种不足的范围内，立即通过以下方式向受托人交付维修准备金差额：(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关于维修准备金差额的任何争议，应在任何一方提出动议并经适当通知和听证会后由本法院审理，一旦由本法院作出决定，HK USA 应立即向受托人交付维修准备金差额，由受托人根据本裁定予以保管；\n\n- (viii) 在初始工程完工后，以及在包括但不限于阀门检修在内的所有必要维修全部完工后，HK USA 应 (a) 从以下机构取得证明相应必要维修已完工的文件（“维修证明”）：(i) Bridgeport Boatworks 船厂或提供相应必要维修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），且 (b) 及时促使 Lady May 号从干船坞移入水中；\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 号进行检查，以确认相应必要维修的完成情况（每次检查统称“受托人检查”，在所有必要维修全部完成后的最终受托人检查统称“最终受托人检查”）。与受托人检查相关的任何费用应由债务人破产财产承担。若受托人检查未在受托人收到维修证明或 Lady May 号从干船坞移入水中（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查的权利。为免生疑问，每次受托人检查可由受托人全权酌情决定包含一次海上试航，HK USA 应为该海上试航提供合理便利；\n- (x) 在初始工程及针对初始工程的受托人检查完工后，或在受托人如上所述放弃其检查初始工程的权利后，若维修准备金金额超出合理担保支付剩余必要维修费用（包括但不限于剩余工程）所需的金额（“维修准备金超出款”），且在发生此种超出的范围内，本法院在收到 HK USA 于 2022 年 11 月 15 日或之后提交的动议并经适当通知和听证会后，应确定维修准备金超出款（如有），并应命令受托人将该维修准备金超出款转交予 HK USA；或者，若本法院已作出裁定准予针对 HK USA 采取判决前救济措施且该判决前救济措施未以其他方式获得充分担保，受托人应继续按照并根据准予判决前救济措施的裁定保管该维修准备金超出款；\n- (xi) 在最终受托人检查完成，或在受托人如上所述放弃其检查权利后，若维修准备金金额超出支付必要维修（包括但不限于初始工程和阀门检修）所需的金额，且在发生此种超出的范围内，本法院在收到 HK USA 的动议并经适当通知和听证会后，一旦由本法院认定必要维修已全部履行完毕，应命令受托人将任何多余的维修准备金款项转交予 HK USA；或者，若本法院已作出裁定准予有利于受托人且针对 HK USA 的判决前救济措施，且该判决前救济措施未以其他方式获得充分担保，受托人应继续按照并根据准予判决前救济措施的裁定保管该等多余款项；\n\n(xii) HK USA 应促使因必要维修而应付的任何及所有保险赔偿金支付给：(i) 进行必要维修的实体以支付该等必要维修费用，或 (ii) 受托人，以纳入维修准备金并根据本裁定的条款和条件作为维修准备金的一部分予以保管；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；且特此进一步裁定\n\n裁定，根据本裁定，HK USA（HK美国）已按照《约定裁定》（Stipulated Order）第 3(v) 条和第 11 条的规定履行并满足其设立维修准备金（Repair Reserve）的义务；但前提是，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 款所允许的“HK USA 证明”（HK USA Certification）；最后并\n\n裁定，鉴于本《同意裁定》（Consent Order）的签署下达，听证会（Hearing）将不再举行。","key_entities":["Je","Kwok","Ho Wan Kwok","Despins","CIPA"],"ecf_references":[{"doc_number":299,"court":"CTB"},{"doc_number":871,"court":"CTB"},{"doc_number":873,"court":"CTB"}],"word_count":2017,"status":"published","published_at":null,"created_at":null,"updated_at":"2026-08-23 13:02:39"}