Guo Wengui / Miles Guo — bankruptcy case · ORDER · ECF #2144-1

METADATA

Defendant
Guo Wengui / Miles Guo / Ho Wan Kwok
Court
CTB
Case No.
22-50073
ECF #
2144
Type
ORDER
Filed
2023-06-29

Monthly Operating Report Attachment — In re Ho Wan Kwok (Miles Guo / Guo Wengui), CTB 22-50073 ECF #2144-1 (filed 2023-06-29). Claire Abrehart, Director of debtor Genever Holdings Corporation (Case No. 22-50542), submits notes and schedules for the June 2023 monthly operating report, disclosing unknown asset values for its interest in Genever Holdings LLC and authorized court-approved fee payments of $33,432.50 to Neubert, Pepe & Monteith, P.C.

FULL TEXT

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NOTES TO THE OPERATING REPORT
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PART 2: ASSET AND LIABILITY STATUS:

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d. Total current assets: Unknown
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e. Total assets: Unknown
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The Debtor's only known asset is its interest in Genever Holdings LLC, and the value of this interest is unknown. PART 5(a): PAYMENTS TO INSIDERS AND PROFESSIONALS:

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Per Court order dated June 29, 2023, a payment of \$33,432.50 was authorized and made to NPM from the estate of Ho Wan Kwok, case number 22-50073.

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Casse 222-500073 12
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UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT

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In re Genever Holdings Corporation
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Debtor
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Case No. 22-50542
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Reporting Period: Jun-23
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Federal Tax I.D. # n/a CORPORATE MONTHLY OPERATING REPORT
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File with the Court and submit a copy to the United States Trustee within 20 days after the end of the month and submit a copy of the report to any official committee appointed in the case.

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(Reports for Rochester and Buffalo Divisions of Western District of New York are due 15 days after the end of the month, as are the reports for Southern District of New York.)

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REQUIRED DOCUMENTS Form No. Document Attached Explanation Attached
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Schedule of Cash Receipts and Disbursements MOR-1 X Bank Reconciliation (or copies of debtor's bank reconciliations) MOR-1 (CONT) X

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Copies of bank statements Cash disbursements journals Statement of Operations MOR-2 X Balance Sheet MOR-3 X Status of Post-petition Taxes MOR-4 X
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Copies of IRS Form 6123 or payment receipt Copies of tax returns filed during reporting period Summary of Unpaid Post-petition Debts MOR-4 X

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Listing of Aged Accounts Payable
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Accounts Receivable Reconciliation and Aging MOR-5 X

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Taxes Reconciliation and Aging MOR-5 X
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Payments to Insiders and Professional MOR-6 X Post Petition Status of Secured Notes, Leases Payable MOR-6 X

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Debtor Questionnaire MOR-7 X
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I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.

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3 August 2023
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Claire Abrehart, Director
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Date
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\* Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

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Cæsse 222-500073 12
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In re Genever Holdings Corporation
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Debtor
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Case No. 22-50542
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Reporting Period:

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Jun-23
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SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

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Amounts reported should be from the debtor's books and not the beginning cash should be the ending cash from the prior morth or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH -ACTUAL" column must equal the sum of the four bank account columns. Attach copies of the bank statements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON'T)]

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BANK ACCOUNTS
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OPER PAYROLL TAX OTHER CURRENT MONTH ACTUAL (TOTAL OF ALL ACCOUNTS) ACCOUNT NUMBER (LAST 4) CASH BEGINNING OF MONTH 0 RECEIPTS CASH SALES ACCOUNTS RECEIVABLE - PREPETITION ACCOUNTS RECEIVABLE - POSTPETITION LOANS AND ADVANCES SALE OF ASSETS OTHER (ATTACH LIST) TRANSFERS (FROM DIP ACCTS) TOTAL RECEIPTS 0 DISBURSEMENTS NET PAYROLL PAYROLL TAXES SALES, USE, & OTHER TAXES INVENTORY PURCHASES SECURED/ RENTAL/ LEASES INSURANCE ADMINISTRATIVE SELLING OTHER (ATTACH LIST) OWNER DRAW * TRANSFERS (TO DIP ACCTS) PROFESSIONAL FEES U.S. TRUSTEE QUARTERLY FEES COURT COSTS TOTAL DISBURSEMENTS 0
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NET CASH FLOW (RECEIPTS LESS DISBURSEMENTS)
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CASH - END OF MONTH 0
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\* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

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THE FOLLOWING SECTION MUST BE COMPLETED
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DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)

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OTAL DISBURSEMENTS
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LESS: TRANSFERS TO OTHER DEBTOR IN OSSESSION ACCOUNTS PLUS: ESTATE DISBURSEMENTS MADE BY ()
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JTSIDE SOURCES (i.e. from escrow accounts) OTAL DISBURSEMENTS FOR CALCULATING U.S.

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TRUSTEE QUARTERLY FEES
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FORM MOR-1 2/2008 PAGE 2 OF 11 In re Genever Holdings Corporation

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Debtor
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Case No. 22-50542 Reporting Period: Jun-23

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BANK RECONCILIATIONS Continuation Sheet for MOR-1
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A bank reconciliation must be included for each bank account. The debtor's bank reconciliation may be substituted for this page. (Bank account numbers may be redacted to last four numbers.)

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Operating Payroll Tax Other
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BALANCE PER BOOKS BANK BALANCE (+) DEPOSITS IN TRANSIT (ATTACH LIST) (-) OUTSTANDING CHECKS (ATTACH
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LIST) :

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OTHER (ATTACH EXPLANATION) ADJUSTED BANK BALANCE *
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\*"Adjusted Bank Balance" must equal "Balance per Books"

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DEPOSITS IN TRANSIT Date Amount Date Amount

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CHECKS OUTSTANDING Ck.# Amount Ck. # Amount

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OTHER Cæsse 222-50073 12
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In re Genever Holdings Corporation
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Debtor
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Case No. 22-50542 Reporting Period:

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Jun-23
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STATEMENT OF OPERATIONS (Income Statement)

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The Statement of Operations is to be prepared on an accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.

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REVENUES MONTH CUMULATIVE -FILING TO DATE
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Gross Revenues Less: Returns and Allowances Net Revenue COST OF GOODS SOLD Beginning Inventory Add: Purchases Add: Cost of Labor Add: Other Costs (attach schedule) Less: Ending Inventory Cost of Goods Sold Gross Profit OPERATING EXPENSES Advertising Auto and Truck Expense Bad Debts Contributions Employee Benefits Programs Officer/Insider Compensation* Insurance Management Fees/Bonuses Office Expense Pension & Profit-Sharing Plans Repairs and Maintenance Rent and Lease Expense Salaries/Commissions/Fees Supplies Taxes - Payroll Taxes - Real Estate Taxes - Other Travel and Entertainment Utilities Other (attach schedule)
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Total Operating Expenses Before Depreciation

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Depreciation/Depletion/Amortization
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Net Profit (Loss) Before Other Income & Expenses

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OTHER INCOME AND EXPENSES Other Income (attach schedule) Interest Expense Other Expense (attach schedule)
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Net Profit (Loss) Before Reorganization Items

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Cæsse 222-50073 12
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In re Genever Holdings Corporation
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Genever Holdings Corporation Case No. 22-50542

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Debtor Reporting Period: Jun-23
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REORGANIZATION ITEMS Professional Fees 1 33,432.50 U. S. Trustee Quarterly Fees l
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Interest Earned on Accumulated Cash from Chapter 11 (see continuation

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sheet) Gain (Loss) from Sale of Equipment 1
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Other Reorganization Expenses (attach schedule) l

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Total Reorganization Expenses l Income Taxes 1 Net Profit (Loss) 1
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\*"Insider" is defined in 11 U.S.C. Section 101(31).

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BREAKDOWN OF "OTHER" CATEGORY
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OTHER COSTS
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OTHER OPERATIONAL EXPENSES
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OTHER INCOME
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OTHER EXPENSES
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OTHER REORGANIZATION EXPENSES
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Reorganization Items - Interest Earned on Accumulated Cash from Chapter 11:

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Interest earned on cash accumulated during the chapter 11 case, which would not have been earned but for the bankruptcy proceeding, should be reported as a reorganization item.

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Casse 222-50073 12 In re Genever Holdings Corporation
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Debtor
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Case No. Reporting Period:

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22-50542 Jun-23 BALANCE SHEET
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The Balance Sheet is to be completed on an accual basis only. Pre-petition liabilities must be classified separately from post-petition obligations.

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ASSETS BOOK VALUE AT END OF CURRENT REPORTING MONTH BOOK VALUE AT END OF
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PRIOR REPORTING MONTH BOOK VALUE ON PETITION

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DATE OR SCHEDULED
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CURRENT ASSETS Unrestricted Cash and Equivalents
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Restricted Cash and Cash Equivalents (see continuation

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sheet) Accounts Receivable (Net) Notes Receivable - Inventories - Prepaid Expenses - Professional Retainers Other Current Assets (attach schedule) TOTAL CURRENT ASSETS PROPERTY & EQUIPMENT Real Property and Improvements Machinery and Equipment Furniture, Fixtures and Office Equipment Leasehold Improvements - Vehicles Less: Accumulated Depreciation TOTAL PROPERTY & EQUIPMENT OTHER ASSETS Amounts due from Insiders* Other Assets (attach schedule) TOTAL OTHER ASSETS TOTAL ASSETS
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BOOK VALUE AT END OF BOOK VALUE AT END OF LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PRIOR REPORTING MONTH BOOK VALUE ON PETITION

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DATE
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LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)

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Accounts Payable - Taxes Payable (refer to FORM MOR-4) - Wages Payable - Notes Payable Rent / Leases - Building/Equipment -
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Secured Debt / Adequate Protection Payments

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Professional Fees Amounts Due to Insiders*
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Other Post-petition Liabilities (attach schedule)

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TOTAL POST-PETITION LIABILITIES
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LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)

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Secured Debt Priority Debt
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Unsecured Debt 254,000,000.00 2540000000 2540000000

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TOTAL PRE-PETITION LIABILITIES
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TOTAL LIABILITIES 254,000,000.00 2540000000 2540000000

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OWNERS' EQUITY Capital Stock unknown unknown unknown Additional Paid-In Capital Partners' Capital Account
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Owner's Equity Account unknown unknown unknown

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Retained Earnings - Pre-Petition Retained Earnings - Post-petition
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Adjustments to Owner Equity (attach schedule) Post-petition Contributions (attach schedule) NET OWNERS' EQUITY unknown unknown unknown TOTAL LIABILITIES AND OWNERS' EQUITY unknown unknown unknown

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\*"Insider" is defined in 11 U.S.C. Section 101(31). Case 22-50073 Doc 2144-1 Filed 08/25/23 Entered 08/25/23 17:57:40 Page 8 of 12

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Genever Holdings Corporation Case No. 22-50542

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Debtor Reporting Period: Jun-23
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BALANCE SHEET - continuation section
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ASSETS BOOK VALUE AT END OF BOOK VALUE AT END OF BOOK VALUE ON

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CURRENT REPORTING MONTH PRIOR REPORTING MONTH PETITION DATE Other Current Assets
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Ownership - Genever Holdings LLC unknown unknown unknown

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Other Assets
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LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF

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CURRENT REPORTING BOOK VALUE ON PETITION DATE MONTH Other Post-petition Liabilities
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Adjustments to Owner's Equity
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Post-Petition Contributions
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Cæsse 222-50073 12
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In re Genever Holdings Corporation
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Debtor
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Case No. 22-50542 Reporting Period:

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Jun-23 STATUS OF POST-PETITION TAXES
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The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero.

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Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes.

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Attach photocopies of any tax returns filed during the reporting period.

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Federal Beginning Tax Amount Withheld and/or Accrued Amount Paid Date Paid Check # or ERT Ending Tax
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Withholding FICA-Employee FICA-Employer Unemployment Income
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Other:

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Total Federal Taxes State and Local Withholding Sales Excise Unemployment Real Property Personal Property
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Other:

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Total State and Local
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Total Taxes SUMMARY OF UNPAID POST-PETITION DEBTS
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Attach aged listing of accounts payable.

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Number of Days Past Due
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Current 0-30 31-60 61-90 Over 91 Total

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Accounts Payable Wages Payable Taxes Payable Rent/Leases-Building Rent/Leases-Equipment Secured Debt/Adequate Protection Payments Professional Fees Amounts Due to Insiders
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Other: Other:

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Total Post-petition Debts - 1 - l 1
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Explain how and when the Debtor intends to pay any past due post-petition debts.

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Case 22-50073 Doc 2045 Filed 08/04/23 Entered 08/04/23 13:31:54 Page 9 of 11

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Accounts Receivable Reconciliation Amount

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Total Accounts Receivable at the beginning of the reporting period I Plus: Amounts billed during the periou 1 Less: Amounts collected auring the period I Total Accounts Receivable at the end of the renorting period 1

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Accounts Receivable Aging 0-30 Days 31-60 Days 61-90 Davs 91+ Davs Total

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1 - 30 days old 31 - 60 days old 161 - 90 days old 91+ days old Total Accounts Receivable
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Less: Bad Debts (Amount considered uncollectible)

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Net Accounts Receivable I I 1 I I
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Taxes Payable 0-30 Davs 31-60 Days 61-90 Days 91+ Days Total

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0 - 30 days old 131 - 60 days old 61 - 90 days old 91+ days old Total Taxes Payable Total Accounts Pavable I I I 1 1
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In re Genever Holdings Corporation Debtor

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Case No. 22-50542 Reporting Period:

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Jun-23
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PAYMENTS TO INSIDERS AND PROFESSIONALS
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Of the total disbursements shown on the Cash Receipts and Disbursements Report (MOR-1) list the amount paid to insiders (as defined in Section 101(31) (A)-(F) of the U.S. Bankruptcy Code) and to professionals. For payments to insiders, identify the type of compensation paid (e.g. Salary, Bonus, Commissions, Insurance, Housing Allowance, Etc.). Attach additional sheets if necessary.

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INSIDERS
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NAME TYPE OF PAYMENT AMOUNT PAID TOTAL PAID TO DATE

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TOTAL PAYMENTS TO INSIDERS 1
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PROFESSIONALS
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NAME DATE OF COURT ORDER AUTHORIZING
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PAYMENT AMOUNT APPROVED AMOUNT PAID TOTAL PAID TO DATE TOTAL INCURRED &

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UNPAID*
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Neubert, Pepe & Monteith, PC 29-Jun-23 \$33,432.50 \$33,432.50 \$33,432.50* 5776.5 Harneys Corporate Services, Lin/a n/a n/a 0 26449.58

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TOTAL PAYMENTS TO PROFESSIONALS l l 1
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\* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED "Per court order dated June 29, 2023, a payment of \$33,432.50 was authorized and made to NPM from the estate of Ho Wan Kwok, case no. 22-50073. POST-PETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS

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NAME OF CREDITOR SCHEDULED MONTHLY PAYMENT DUE AMOUNT PAID DURING MONTH TOTAL UNPAID POST PETITION
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TOTAL PAYMENTS Cæsse 222-500073 12
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In re Genever Holdings Corporation
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Debtor
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Case No. 22-50542 Reporting Period: Jun-23

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DEBTOR QUESTIONNAIRE
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Must be completed each month. If the answer to any of the Ves No

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questions is "Yes", provide a detailed explanation of each item. Attach additional sheets if necessary. Have any assets been sold or transferred outside the normal course of X business this reporting period? Have any funds been disbursed from any account other than a debtor in X possession account this reporting period? Is the Debtor delinquent in the timely filing of any post-petition tax X returns? Are workers compensation, general liability or other necessary X 4 insurance coverages expired or cancelled, or has the debtor received notice of expiration or cancellation of such policies?

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X
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Is the Debtor delinquent in paying any insurance premium payment? Have any payments been made on pre-petition liabilities this reporting X period? Are any post petition receivables (accounts, notes or loans) due from X related parties? 8 Are any post petition payroll taxes past due? X Are any post petition State or Federal income taxes past due? X 10 Are any post petition real estate taxes past due? X 11 Are any other post petition taxes past due? X

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X
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12 Have any pre-petition taxes been paid during this reporting period? 13 Are any amounts owed to post petition creditors delinquent? X

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14 Are any wage payments past due? X
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Have any post petition loans been been received by the Debtor from any X । ર party? 16 Is the Debtor delinquent in paying any U.S. Trustee fees? X Is the Debtor delinquent with any court ordered payments to attorneys or X other professionals? Have the owners or shareholders received any compensation outside of X 18 the normal course of business?

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