Guo Wengui / Miles Guo — bankruptcy case · PETITION · ECF #1598

| | UNITED STATES BANKRUPTCY COURT<br>DISTRICT OF | Connecticut | |----------------------------------------------------------------|-----------------------------------------------|-------------------------------------------------------------------------------------------------------------------------| | | Bridgeport Division | | | In Re.<br>Genever Holdings LLC<br>Debtor(s) | §<br>§<br>§<br>§ | Case No.<br>22-50592<br>Lead Case No.<br>22-50073 | | | | Jointly Administered | | Monthly Operating Report | | Chapter 11 | | Reporting Period Ended:<br>11/30/2022 | | Petition Date:<br>10/12/2020 | | Months Pending:<br>26 | | Industry Classification:<br>5<br>3<br>1<br>3 | | Reporting Method: | Accrual Basis | Cash Basis | | Debtor's Full-Time Employees (current): | | 0 | | Debtor's Full-Time Employees (as of date of order for relief): | | 0 | | Supporting Documentation (check all that are attached): | | | | | | (For jointly administered debtors, any required schedules must be provided on a non-consolidated basis for each debtor) | | Statement of cash receipts and disbursements | | Balance sheet containing the summary and detail of the assets, liabilities and equity (net worth) or deficit |

| Statement of operations (profit or loss statement) | | |----------------------------------------------------|--|

- Accounts receivable aging - Postpetition liabilities aging - Statement of capital assets - Schedule of payments to professionals - Schedule of payments to insiders - All bank statements and bank reconciliations for the reporting period - Description of the assets sold or transferred and the terms of the sale or transfer

/s/Douglas S. Skalka

03/23/2023

Date

Douglas S. Skalka

Signature of Responsible Party Printed Name of Responsible Party

Address Neubert, Pepe & Monteith, P.C. 195 Church Street, New Haven, Connecticut 06510

STATEMENT: This Periodic Report is associated with an open bankruptcy case; therefore, Paperwork Reduction Act exemption 5 C.F.R. § 1320.4(a)(2) applies.

UST Form 11-MOR (12/01/2021) 1

## Case 22-50073 Doc 1598 Filed 03/24/23 Entered 03/24/23 16:00:17 Page 2 of 15

Debtor's Name Genever Holdings LLC Case No. 22-50592 **Part 1: Cash Receipts and Disbursements Current Month Cumulative** a. Cash balance beginning of month \$67,950 b. Total receipts (net of transfers between accounts) \$0 \$0 c. Total disbursements (net of transfers between accounts) \$0 \$22,087 d. Cash balance end of month (a+b-c) \$67,950 e. Disbursements made by third party for the benefit of the estate \$87,286 \$2,052,375 f. Total disbursements for quarterly fee calculation (c+e) \$87,286 \$2,074,462 **Part 2: Asset and Liability Status Current Month** (Not generally applicable to Individual Debtors. See Instructions.) a. Accounts receivable (total net of allowance) \$0 b. Accounts receivable over 90 days outstanding (net of allowance) \$0 c. Inventory (Book Market Other (attach explanation)) \$0 d Total current assets \$1,479,580 e. Total assets \$71,479,580 f. Postpetition payables (excluding taxes) \$0 g. Postpetition payables past due (excluding taxes) \$0 h. Postpetition taxes payable \$0 i. Postpetition taxes past due \$0 j. Total postpetition debt (f+h) \$0 k. Prepetition secured debt \$775,678 l. Prepetition priority debt \$0 m. Prepetition unsecured debt \$195,300,000 n. Total liabilities (debt) (j+k+l+m) \$196,075,678 o. Ending equity/net worth (e-n) \$-124,596,098 **Part 3: Assets Sold or Transferred Current Month Cumulative** a. Total cash sales price for assets sold/transferred outside the ordinary course of business \$0 \$0 b. Total payments to third parties incident to assets being sold/transferred outside the ordinary course of business \$0 \$0 c. Net cash proceeds from assets sold/transferred outside the ordinary course of business (a-b) \$0 \$0 **Part 4: Income Statement (Statement of Operations) Current Month Cumulative** (Not generally applicable to Individual Debtors. See Instructions.) a. Gross income/sales (net of returns and allowances) \$0 b. Cost of goods sold (inclusive of depreciation, if applicable) \$0 c. Gross profit (a-b) \$0 d. Selling expenses \$0 e. General and administrative expenses \$0 f. Other expenses \$87,286 g. Depreciation and/or amortization (not included in 4b) \$0 h. Interest \$0

i. Taxes (local, state, and federal) \$0

j. Reorganization items \$0

k. Profit (loss) \$-87,286 \$0

UST Form 11-MOR (12/01/2021) 2

Genever Holdings LLC

**Part 5: Professional Fees and Expenses** Approved Current Month Approved Cumulative Paid Current Month Paid Cumulative a. Debtor's professional fees & expenses (bankruptcy) *Aggregate Total Itemized Breakdown by Firm* Firm Name Role i ii iii iv v vi vii viii ix x xi xii xiii xiv xv xvi xvii xviii xix xx xxi xxii xxiii xxiv xxv xxvi xxvii xxviii xxix xxx xxxi xxxii xxxiii xxxiv xxxv xxxvi

| Debtor's Name | | |---------------|----------------------| | | | | | Genever Holdings LLC |

| xxxvii | | | | |--------|--|--|--| | xxxvii | | | | | xxxix | | | | | xl | | | | | xli | | | | | xlii | | | | | xliii | | | | | xliv | | | | | xlv | | | | | xlvi | | | | | xlvii | | | | | xlviii | | | | | xlix | | | | | l | | | | | li | | | | | lii | | | | | liii | | | | | liv | | | | | lv | | | | | lvi | | | | | lvii | | | | | lviii | | | | | lix | | | | | lx | | | | | lxi | | | | | lxii | | | | | lxiii | | | | | lxiv | | | | | lxv | | | | | lxvi | | | | | lxvii | | | | | | | | | | lxviii | | | | | lxix | | | | | lxx | | | | | lxxi | | | | | lxxii | | | | | lxxiii | | | | | lxxiv | | | | | lxxv | | | | | lxxvi | | | | | lxxvii | | | | | lxxvii | | | |

| | | Case 22-50073 | Doc 1598 | Filed 03/24/23 | | Entered 03/24/23 16:00:17 | | Page 5 of 15 | |----|---------------|----------------------------|----------|-----------------------------------------------------------------------|---------------------------|---------------------------|-----------------------|--------------------| | | Debtor's Name | | | | | | Case No. 22-50592 | | | | | Genever Holdings LLC | | | | | | | | | lxxix | | | | | | | | | | lxxx | | | | | | | | | | lxxxi | | | | | | | | | | lxxxii | | | | | | | | | | lxxxii | | | | | | | | | | lxxxiv | | | | | | | | | | lxxxv | | | | | | | | | | lxxxvi | | | | | | | | | | lxxxvi | | | | | | | | | | lxxxvi | | | | | | | | | | lxxxix | | | | | | | | | | xc | | | | | | | | | | xci | | | | | | | | | | xcii | | | | | | | | | | xciii | | | | | | | | | | xciv | | | | | | | | | | xcv | | | | | | | | | | xcvi | | | | | | | | | | xcvii | | | | | | | | | | xcviii | | | | | | | | | | xcix | | | | | | | | | | c | | | | | | | | | | ci | | | | | | | | | | | | | | Approved<br>Current Month | Approved<br>Cumulative | Paid Current<br>Month | Paid<br>Cumulative | | b. | | | | Debtor's professional fees & expenses (nonbankruptcy) Aggregate Total | | | | | | | | Itemized Breakdown by Firm | | | | | | | | | | Firm Name | | Role | | | | | | | i | | | | | | | | | | ii | | | | | | | | | | iii | | | | | | | | | | iv | | | | | | | | | | v | | | | | | | | | | vi | | | | | | | |

vii viii ix x xi xii xiii xiv

| Debtor's Name | | | |---------------|--|--|

| | Genever Holdings LLC | | | | |--------|----------------------|--|--|--| | xv | | | | | | xvi | | | | | | xvii | | | | | | xviii | | | | | | xix | | | | | | xx | | | | | | xxi | | | | | | xxii | | | | | | xxiii | | | | | | xxiv | | | | | | xxv | | | | | | xxvi | | | | | | xxvii | | | | | | xxviii | | | | | | xxix | | | | | | xxx | | | | | | xxxi | | | | | | xxxii | | | | | | xxxiii | | | | | | xxxiv | | | | | | xxxv | | | | | | xxxvi | | | | | | xxxvii | | | | | | xxxvii | | | | | | xxxix | | | | | | xl | | | | | | xli | | | | | | xlii | | | | | | xliii | | | | | | xliv | | | | | | xlv | | | | | | xlvi | | | | | | xlvii | | | | | | xlviii | | | | | | xlix | | | | | | | | | | | | l | | | | | | li | | | | | | lii | | | | | | liii | | | | | | liv | | | | | | lv | | | | | | lvi | | | | |

| Debtor's Name | | | | |---------------|--|--|--| | | | | |

| | Genever Holdings LLC | | | | |--------|----------------------|--|--|--| | lvii | | | | | | lviii | | | | | | lix | | | | | | lx | | | | | | lxi | | | | | | lxii | | | | | | lxiii | | | | | | lxiv | | | | | | lxv | | | | | | lxvi | | | | | | lxvii | | | | | | lxviii | | | | | | lxix | | | | | | lxx | | | | | | lxxi | | | | | | lxxii | | | | | | lxxiii | | | | | | lxxiv | | | | | | lxxv | | | | | | lxxvi | | | | | | lxxvii | | | | | | lxxvii | | | | | | lxxix | | | | | | lxxx | | | | | | lxxxi | | | | | | lxxxii | | | | | | lxxxii | | | | | | lxxxiv | | | | | | lxxxv | | | | | | lxxxvi | | | | | | lxxxvi | | | | | | lxxxvi | | | | | | lxxxix | | | | | | xc | | | | | | xci | | | | | | xcii | | | | | | | | | | | | xciii | | | | | | xciv | | | | | | xcv | | | | | | xcvi | | | | | | xcvii | | | | | | xcviii | | | | |

## Case 22-50073 Doc 1598 Filed 03/24/23 Entered 03/24/23 16:00:17 Page 8 of 15

Debtor's Name

Genever Holdings LLC

| | | xcix | | | | | |--|----|------|----------------------------------------------------------|--|--|--| | | | c | | | | | | | c. | | All professional fees and expenses (debtor & committees) | | | |

| | Part 6: Postpetition Taxes | | | Current Month | Cumulative | |----|------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|------------|---------------|---------------------------| | a. | | Postpetition income taxes accrued (local, state, and federal) | | \$0 | \$0 | | b. | Postpetition income taxes paid (local, state, and federal) | | | \$0 | \$0 | | c. | | Postpetition employer payroll taxes accrued | | \$0 | \$0 | | d. | | Postpetition employer payroll taxes paid | | \$0 | \$0 | | e. | Postpetition property taxes paid | | | \$0 | \$0 | | f. | | Postpetition other taxes accrued (local, state, and federal) | | \$0 | \$0 | | g. | | Postpetition other taxes paid (local, state, and federal) | | \$0 | \$0 | | | | Part 7: Questionnaire - During this reporting period: | | | | | a. | | Were any payments made on prepetition debt? (if yes, see Instructions) | Yes | No | | | b. | | Were any payments made outside the ordinary course of business<br>without court approval? (if yes, see Instructions) | Yes | No | | | c. | | Were any payments made to or on behalf of insiders? | Yes | No | | | d. | | Are you current on postpetition tax return filings? | Yes | No | | | e. | | Are you current on postpetition estimated tax payments? | Yes | No | | | f. | | Were all trust fund taxes remitted on a current basis? | Yes | No | | | g. | (if yes, see Instructions) | Was there any postpetition borrowing, other than trade credit? | Yes | No | | | h. | the court? | Were all payments made to or on behalf of professionals approved by | Yes | No<br>N/A | | | i. | Do you have: | Worker's compensation insurance? | Yes | No | | | | | If yes, are your premiums current? | Yes | No<br>N/A | (if no, see Instructions) | | | | Casualty/property insurance? | Yes | No | | | | | If yes, are your premiums current? | Yes | No<br>N/A | (if no, see Instructions) | | | | General liability insurance? | Yes | No | | | | | If yes, are your premiums current? | Yes | No<br>N/A | (if no, see Instructions) | | j. | | Has a plan of reorganization been filed with the court? | Yes | No | | | k. | Has a disclosure statement been filed with the court? | | | No | | | l. | | Are you current with quarterly U.S. Trustee fees as<br>set forth under 28 U.S.C. § 1930? | Yes<br>Yes | No | |

Genever Holdings LLC

| | Part 8: Individual Chapter 11 Debtors (Only) | | |----|------------------------------------------------------------------------------------------------|------------------| | a. | Gross income (receipts) from salary and wages | \$0 | | b. | Gross income (receipts) from self-employment | \$0 | | c. | Gross income from all other sources | \$0 | | d. | Total income in the reporting period (a+b+c) | \$0 | | e. | Payroll deductions | \$0 | | f. | Self-employment related expenses | \$0 | | g. | Living expenses | \$0 | | h. | All other expenses | \$0 | | i. | Total expenses in the reporting period (e+f+g+h) | \$0 | | j. | Difference between total income and total expenses (d-i) | \$0 | | k. | List the total amount of all postpetition debts that are past due | \$0 | | l. | Are you required to pay any Domestic Support Obligations as defined by 11<br>U.S.C § 101(14A)? | Yes<br>No | | m. | If yes, have you made all Domestic Support Obligation payments? | Yes<br>No<br>N/A |

### **Privacy Act Statement**

28 U.S.C. § 589b authorizes the collection of this information, and provision of this information is mandatory under 11 U.S.C. §§ 704, 1106, and 1107. The United States Trustee will use this information to calculate statutory fee assessments under 28 U.S.C. § 1930(a)(6). The United States Trustee will also use this information to evaluate a chapter 11 debtor's progress through the bankruptcy system, including the likelihood of a plan of reorganization being confirmed and whether the case is being prosecuted in good faith. This information may be disclosed to a bankruptcy trustee or examiner when the information is needed to perform the trustee's or examiner's duties or to the appropriate federal, state, local, regulatory, tribal, or foreign law enforcement agency when the information indicates a violation or potential violation of law. Other disclosures may be made for routine purposes. For a discussion of the types of routine disclosures that may be made, you may consult the Executive Office for United States Trustee's systems of records notice, UST-001, "Bankruptcy Case Files and Associated Records." *See* 71 Fed. Reg. 59,818 et seq. (Oct. 11, 2006). A copy of the notice may be obtained at the following link: htt www.justice.gov/ust/eo/rules\_regulations/index.htm. Failure to provide this information could result in the dismissal or conversion of your bankruptcy case or other action by the United States Trustee. 11 U.S.C. § 1112(b)(4)(F).

## **I declare under penalty of perjury that the foregoing Monthly Operating Report and its supporting documentation are true and correct and that I have been authorized to sign this report on behalf of the estate.**

/s/Luc A Despins, Chapter 11 Trustee

Signature of Responsible Party

Chapter 11 Trustee of Ho Wan Kwok

Title Date

Luc A Despins, Chapter 11 Trustee

Printed Name of Responsible Party

03/23/2023

Genever Holdings LLC


Genever Holdings LLC


Genever Holdings LLC

Case No. 22-50592


PageFour

UST Form 11-MOR (12/01/2021) 12

## **UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION**

| ----------------------------------------------------------- | x | | |-------------------------------------------------------------|---|----------------------------| | | : | | | In re: | : | Chapter 11 | | | : | | | GENEVER HOLDINGS LLC, | : | Case No. 22-50592<br>(JAM) | | | : | | | Debtor. | : | Jointly administered under | | | : | Lead Case 22-50073 (JAM) | | ----------------------------------------------------------- | x | |

## **ATTACHMENT TO MONTHLY OPERATING REPORT FOR THE PERIOD ENDING NOVEMBER 30, 2022**

This attachment is incorporated into and made a part of the Monthly Operating Report ("MOR") of Genever Holdings LLC (the "Debtor").

## **General Disclaimers**

- 1. The MOR is presented on a form promulgated in 2021 by the Executive Office of the United States Trustee. This form in many instances requires inserting a number for a line item even if the line item does not apply. The form also does not allow for the insertion of explanations or asterisks next to answers. Accordingly, as presented, certain responses may be inapplicable or incomplete. This attachment is being filed as an integral part of the MOR. - 2. The Debtor has been under the control of Luc A. Despins, in his capacity as chapter 11 trustee (the "Trustee") in the case of Ho Wan Kwok, since September 2022. Information herein reflects the information available to the Trustee as of the date of the filing of this MOR, but is subject to revision based on the Trustee's ongoing investigation. The Trustee makes no representation as to the current market value of the Debtor's assets. - 3. The Trustee reserves the rights to amend, modify or supplement this MOR or update it in future MORs.

Case 22-50073 Doc 1598 Filed 03/24/23 Entered 03/24/23 16:00:17 Page 14 of 15

PO BOX 911039 San Diego, CA 92191-1039 (888) 374-8267

axosfiduciaryservices.com

Date 11/30/22 Page 1 Primary Account 9910

### 13357685

GENEVER HOLDINGS LLC DEBTOR IN POSSESSION CASE# 20-12411-jlg 781 5TH AVENUE APT 1801 NEW YORK NY 10022

| Account Title: | GENEVER HOLDINGS LLC<br>DEBTOR IN POSSESSION<br>CASE# 20-12411-jlg | | | |------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------| | Commercial Checking<br>Account Number<br>Previous Balance<br>Deposits/Credits<br>Checks/Debits<br>Maintenance Fee<br>Interest Paid<br>Ending Balance | 9910<br>67,950.26<br>.00<br>.00<br>.00<br>.00<br>67,950.26 | Number of Enclosures<br>Statement Dates 11/01/22 thru 11/30/22<br>Days in the statement period<br>Avg Daily Ledger<br>Avg Daily Collected | 0<br>30<br>67,950.26<br>67,950.26 |

## DAILY BALANCE INFORMATION

Date Balance 11/01 67,950.26

# \*\*\* END OF STATEMENT \*\*\*

# Case 22-50073 Doc 1598 Filed 03/24/23 Entered 03/24/23 16:00:17 Page 15 of 15

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