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