Guo Wengui / Miles Guo — bankruptcy case · ECF #2466

METADATA

Defendant: Guo Wengui / Miles Guo / Ho Wan Kwok
Court: CTB
Case No.: 22-50073
ECF #: 2466
Type: UNKNOWN
Filed: 2023-12-21

FULL TEXT

| | UNITED STATES BANKRUPTCY COURT | | | | | |----------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------|--|--|--| | | DISTRICT OF CONNECTICUT | | | | | | | BRIDGEPORT DIVISION | | | | | | | | | | | | | In Re. Ho Wan Kwok | § | Case No. 22-50073 | | | | | | § § | Lead Case No. 22-50073 | | | | | Debtor(s) | § | Jointly Administered | | | | | Monthly Operating Report | | Chapter 11 | | | | | Reporting Period Ended: 11/30/2023 | | Petition Date: 02/15/2022 | | | | | Months Pending: 22 | | Industry Classification: 0 0 0 0 | | | | | 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/ Luc A. Despins

12/21/2023

Date

Signature of Responsible Party Printed Name of Responsible Party Address Luc A. Despins, in his capacity as Chapter 11 Trustee Paul Hastings LLP 200 Park Avenue New York, NY 10166

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 2466 Filed 12/21/23 Entered 12/21/23 12:06:01 Page 2 of 21

| | Debtor's Name Ho Wan Kwok | Case No. 22-50073 | | | | |----|---------------------------------------------------------------------------------------------------------------------------|-------------------|---------------|--|--| | | Part 1: Cash Receipts and Disbursements | Current Month | Cumulative | | | | a. | Cash balance beginning of month | \$73,332,440 | | | | | b. | Total receipts (net of transfers between accounts) | \$445,315 | \$101,121,367 | | | | c. | Total disbursements (net of transfers between accounts) | \$336,242 | \$27,348,282 | | | | d. | Cash balance end of month (a+b-c) | \$73,441,512 | | | | | e. | Disbursements made by third party for the benefit of the estate | \$0 | \$12,757 | | | | f. | Total disbursements for quarterly fee calculation (c+e) | \$336,242 | \$27,361,039 | | | | | Part 2: Asset and Liability Status (Not generally applicable to Individual Debtors. See Instructions.) | Current Month | | | | | 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 | \$0 | | | | | e. | Total assets | \$0 | | | | | 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 | \$0 | | | | | l. | Prepetition priority debt | \$0 | | | | | m. | Prepetition unsecured debt | \$0 | | | | | n. | Total liabilities (debt) (j+k+l+m) | \$0 | | | | | o. | Ending equity/net worth (e-n) | \$0 | | | | | | Part 3: Assets Sold or Transferred | Current Month | Cumulative | | | | a. | Total cash sales price for assets sold/transferred outside the ordinary | | | | | | b. | course of business Total payments to third parties incident to assets being sold/transferred | \$93,730 | \$23,243,730 | | | | | outside the ordinary course of business | \$0 | \$1,157,500 | | | | c. | Net cash proceeds from assets sold/transferred outside the ordinary course of business (a-b) | \$93,730 | \$22,086,230 | | | | | Part 4: Income Statement (Statement of Operations) (Not generally applicable to Individual Debtors. See Instructions.) | Current Month | Cumulative | | |

| 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 | \$0 | | | 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) | \$0 | \$0 | | | | | |

#### Case 22-50073 Doc 2466 Filed 12/21/23 Entered 12/21/23 12:06:01 Page 3 of 21

| | Part 5: Professional Fees and Expenses | | | | | | |--------|--------------------------------------------------------------------|-------|---------------------------|------------------------|-----------------------|--------------------| | | | | Approved Current Month | Approved Cumulative | Paid Current Month | Paid Cumulative | | | Debtor's professional fees & expenses (bankruptcy) Aggregate Total | | \$125,057 | \$25,477,996 | \$125,057 | \$25,477,996 | | | Itemized Breakdown by Firm | | | | | | | | Firm Name | Role | | | | | | i | Neubert, Pepe & Monteith, P.C Local Counsel | | \$98,955 | \$1,189,403 | \$98,955 | \$1,189,403 | | ii | Paul Hastings LLP (counsel to cLead Counsel | | \$0 | \$21,916,263 | \$0 | \$21,916,263 | | iii | Brown Rudnick (counsel to Ho Lead Counsel | | \$0 | \$0 | \$0 | \$0 | | iv | Pullman & Comley, LLC (coun Lead Counsel | | \$26,102 | \$545,490 | \$26,102 | \$545,490 | | v | Coleman Worldwide Advisors LOther | | \$0 | \$0 | \$0 | \$0 | | vi | Dundon Advisors (UCC financi Financial Professional | | \$0 | \$0 | \$0 | \$0 | | vii | Verdolino & Lowey, PC (financFinancial Professional | | \$0 | \$0 | \$0 | \$0 | | viii | Harney Westwood & Riegels LPOther | | \$0 | \$392,647 | \$0 | \$392,647 | | ix | Paul Wright | Other | \$0 | \$0 | \$0 | \$0 | | x | Pallas Partners LLP | Other | \$0 | \$0 | \$0 | \$0 | | xi | Edmiston and Company LimitedOther | | \$0 | \$1,157,500 | \$0 | \$1,157,500 | | xii | Engineering Operations and CerOther | | \$0 | \$0 | \$0 | \$0 | | xiii | Epiq Corporate Restructuring, LOther | | \$0 | \$276,692 | \$0 | \$276,692 | | xiv | | | | | | | | 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 | | | | | | 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 | | | | | | | | | xcix | | | | | | | | | c | | | | | | | | | ci | | | | | | | | | | | | Approved | Approved | Paid Current | Paid | | | | | | Current Month | Cumulative | Month | Cumulative | | b. | | Debtor's professional fees & expenses (nonbankruptcy) Aggregate Total | | \$0 | \$0 | \$0 | \$0 | | | | Itemized Breakdown by Firm | | | | | | | | | Firm Name | Role | | | | | | | i | Baker Hostetler LLP | Other | \$0 | \$0 | \$0 | \$0 | | | ii | Clayman & Rosenberg LLP | Other | \$0 | \$0 | \$0 | \$0 | | | iii | Ganfer Shore Leeds & ZaudererOther | | \$0 | \$0 | \$0 | \$0 | | | iv | Harcus Parker Ltd. | Other | \$0 | \$0 | \$0 | \$0 | | | v | LALIVE SA | Other | \$0 | \$0 | \$0 | \$0 | | | vi | Lawall & Mitchell, LLC | Other | \$0 | \$0 | \$0 | \$0 | | | vii | Petrillo Klein & Boxer LLP | Other | \$0 | \$0 | \$0 | \$0 | | | viii | Schulman Bhattacharya, LLC | Other | \$0 | \$0 | \$0 | \$0 | | | ix | The Casper Firm | Other | \$0 | \$0 | \$0 | \$0 | | | x | The Francis Firm PLLC | Other | \$0 | \$0 | \$0 | \$0 | | | xi | VX Cerda & Associates | Other | \$0 | \$0 | \$0 | \$0 | | | 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 | | | | | 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 | | | | | lxxix | | | | | lxxx | | | | | lxxxi | | | | | lxxxii | | | | | lxxxii | | | | | lxxxiv | | | | | lxxxv | | | | | lxxxvi | | | | | lxxxvi | | | | | lxxxvi | | | | | lxxxix | | | | | xc | | | | | xci | | | | | xcii | | | | | xciii | | | | | xciv | | | | | xcv | | | | | xcvi | | | | | xcvii | | | | | xcviii | | | | | | | | |

### Case 22-50073 Doc 2466 Filed 12/21/23 Entered 12/21/23 12:06:01 Page 8 of 21

| | xcix | | | | | | |----------------------------------------------------------------|------|-----|-----|-----|-----|--| | | c | | | | | | | c. All professional fees and expenses (debtor & committees) | | \$0 | \$0 | \$0 | \$0 | |

| | 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 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. | Was there any postpetition borrowing, other than trade credit? (if yes, see Instructions) | Yes No | | | h. | Were all payments made to or on behalf of professionals approved by the court? | Yes No | N/A | | i. | Worker's compensation insurance? Do you have: | Yes No | | | | If yes, are your premiums current? | Yes No | N/A (if no, see Instructions) | | | Casualty/property insurance? | Yes No | | | | If yes, are your premiums current? | Yes No | (if no, see Instructions) N/A | | | General liability insurance? | Yes No | | | | If yes, are your premiums current? | Yes No | 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? | Yes No | | | l. | Are you current with quarterly U.S. Trustee fees as set forth under 28 U.S.C. § 1930? | Yes No | |

| | 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 U.S.C § 101(14A)? | Yes No | | m. | If yes, have you made all Domestic Support Obligation payments? | No N/A Yes |

#### **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

Signature of Responsible Party

Chapter 11 Trustee

Title Date

Luc A. Despins, in his capacity as Chapter 11 Trustee

Printed Name of Responsible Party

12/21/2023

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PageFour

**In re** Ho Wan Kwok **Case No.** 22-50073 (JAM)

**Debtor Reporting Period:** 11/1/2023 - 11/30/2023

#### **INDIVIDUAL DEBTOR CASH RECEIPTS AND CASH DISBURSEMENTS**

(This Form must be submitted for each bank account maintained by the Debtor)

Amounts reported should be per the debtor's books, not the bank statement. The

beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance

on the date the petition was

filed. Attach the bank statements and a detailed list of all disbursements made during the

report period that includes

the date, the check number, the payee, the transaction description, and the amount. A bank reconciliation must

be attached for each account. [See MOR-1 (CON'T)]

| | Current Month | | Cumulative July 8, 2022 to Date | | |---------------------------------------------------------------------|------------------|----|---------------------------------|--| | | Actual | | Actual | | | Cash - Beginning of Month | | | | | | RECEIPTS | | | | | | Recovered Funds | \$ 93,730.00 | \$ | 23,415,375.75 | | | Funds received from B. Hofmeister Assignee for benefit of creditors | \$ - | \$ | 38,778,679.26 | | | of HCHK pursuant to settlement order | | | | | | Clark Hill Settlement | \$ - | \$ | 499,000.00 | | | Retainer Refund (Kercsmar Collins & O'Hara / Lewis Roca) | \$ - | \$ | 4,544.00 | | | Yacht Repair Escrow | \$ - | \$ | 4,000,000.00 | | | Adversary Proceeding Interpleader Funds | \$ - | \$ | 32,923,028.42 | | | Refund from AIG | \$ - | \$ | 71.25 | | | Funds received from The Casper Firm Settlement | \$ 48,750.00 | \$ | 48,750.00 | | | Bank Account Interest | \$ 302,834.84 | \$ | 1,451,917.57 | | | Total Receipts | \$ 445,314.84 | \$ | 101,121,366.25 | | | DISBURSEMENTS | | | | | | ORDINARY ITEMS: | | | | | | Bank Fees | \$ 6,581.74 | \$ | 32,794.97 | | | Fees paid to International Surety Ltd for surety bond renewal | \$ - | \$ | 152,747.00 | | | premium | | | | | | Fees paid with respect to Yacht repair invoices out of the Yacht | \$ - | \$ | 576,895.09 | | | Repair Escrow | | | | | | Fees paid with respect to Miller Advertising Agency Inc. (English | \$ - | \$ | 21,140.60 | | | Court Publication Notice) | | | | | | Fees paid with respect to Dexter White Invoice | \$ - | \$ | 16,235.00 | | | Fees paid with respect to Bridgeport Harbor Marina out of the | \$ - | \$ | 18,137.64 | | | Yacht Repair Escrow | | | | | | Fees paid with respect to Safe Harbor out of the Yacht Repair | \$ - | | | | | Escrow | | \$ | 148,287.04 | | | Fees paid with respect to Yatchtzoo for operating expenses out of | \$ - | \$ | 431,604.00 | | | the Yacht Repair Escrow | | | | | | Fees paid with respect to Harneys Corporate Services Limited | \$ - | \$ | 1,665.00 | | | Disbursement paid to JP Reynolds Company Inc. (for customs duty | \$ - | \$ | 14,965.35 | | | | | | | | | and customs bond premium) | | | | | | Disbursement paid to James Pizzaruso for pay roll in connection | \$ - | \$ | 31,026.98 | | | with sale of Lady May | | | | | | Disbursement paid to AIG for insurance policy premium | \$ - | \$ | 8,731.00 | | | Disbursement paid to B. Hofmeister Assignee for Benefit of | \$ - | \$ | 76,150.88 | | | Creditors of HCHK (for HCHK admin matters and employee | | | | | | payments) | | | | | | Disbursement paid to RKH IT Solutions (IT Consultant for HCHK | \$ 4,200.00 | \$ | 16,000.00 | | | Assignee) | | | | | | Fees paid to SHM Newport Shipyard LLC (for Lady May II Newport | \$ - | \$ | 3,540.00 | | | Boat Show) | | | | | | Disbursement paid to R.I. Martine Survey (for Lady May II | \$ - | \$ | 700.00 | | | appraisal) | | | | | | Disbursement paid to Brosnan Risk Consultants LTD (for security | \$ 57,246.47 | \$ | 57,246.47 | | | services for HCHK Assignee) | | | | | | Disbursement paid to ARD Facilities Management Group LLC (for | \$ 64,087.50 | \$ | 64,087.50 | | | moving services for HCHK) | | | | | | Total Ordinary Disbursements | \$ 132,115.71 | \$ | 1,671,954.52 | | | REORGANIZATION ITEMS: | | | | | | Professional Fees | | | | | | Fees paid with respect to Neubert, Pepe & Monteith PC | \$ 98,955.21 | \$ | 1,189,403.44 | | | Fees paid with respect to Paul Hastings LLP | \$ - | \$ | 21,916,263.09 | |

| In re Ho Wan Kwok | Case No. | 22-50073 (JAM) | |-----------------------------------------------------------------------|---------------------|------------------------| | Debtor | Reporting Period: | 11/1/2023 - 11/30/2023 | | Broker fees paid with respect to Edmiston and Company Limited | \$ - | \$ 1,157,500.00 | | Fees paid with respect to Pullman & Comley, LLC | \$ 26,102.00 | \$ 545,490.13 | | Fees paid with respect to Epiq Corporate Restructuring LLC | \$ - | \$ 276,691.93 | | Fees paid with respect to Harney Westwood & Riegels LP | \$ - | \$ 392,647.46 | | U. S. Trustee Fees | \$ 79,069.00 | \$ 198,331.43 | | Other Reorganization Expenses (attach schedule) | \$ - | \$ - | | Total Reorganization Items | \$ 204,126.21 | \$ 25,676,327.48 | | Total Disbursements (Ordinary + Reorganization) | \$ 336,241.92 | \$ 27,348,282.00 | | Financing of Genever Entities | | | | Payment pursuant to DIP Order with respect to financing Genever | \$ - | \$ 11,220.62 | | US invoices for Gallagher Basset Services Inc. (for ATRU and | | | | variance drawings, final inspection and asbestos survey and reporting | | | | work at The Sherry Netherland) | | | | Payment pursuant to DIP Order with respect to financing Genever | \$ - | \$ 236,452.00 | | US counsel fees (Saxe Doernberger & Vita PC) | | | | Payment pursuant to DIP Order with respect to financing Genever | \$ 107,899.32 | \$ 107,899.32 | | US counsel fees (O'Sullivan McCormack Jensen & Bliss PC) | | | | Payment pursuant to DIP Order with respect to financing Genever | \$ - | \$ 24,784.58 | | BVI corporate fees (Harneys Corporate Services) | | | | Payment pursuant to DIP Order with respect to financing Genever | \$ - | \$ 48,900.00 | | US invoices for ABF Environmental Inc. (for asbestos abatement and | | | | insulation work) | | | | Payment pursuant to DIP Order with respect to financing Genever | \$ 1,226.12 | \$ 8,039.24 | | US invoices for Gustav Restoration LLC (for 50% deposit for work at | | | | The Sherry Netherland) | | | | Payment pursuant to DIP Order with respect to financing Genever | \$ - | \$ 3,380.86 | | US invoices for Acheson Doyle Partners Architects, PC (for apartment | | | | stabilization work at The Sherry Netherland) | | | | Total DIP Financing Items | \$ 109,125.44 | \$ 440,676.62 | | | | | | Net Cash Flow (Total Receipts - Total Disbursements - DIP | \$ (52.52) \$ | 73,332,407.63 | | Financing) | | | | Cash - End of Month (Must equal reconciled bank statement) | \$ 73,332,387.03 | \$ 73,332,387.03 | | Third Party Disbursements on Behalf of the Estate | | | | None | \$ - | \$ 12,757.00 | | | | |

#### **THE FOLLOWING SECTION MUST BE COMPLETED**

**DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)**

| TOTAL DISBURSEMENTS | \$ 336,241.92 | |----------------------------------------------------------------------|------------------| | LESS: TRANSFERS TO OTHER DEBTOR IN POSSESSION ACCOUNTS | \$ - | | PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow | \$ - | | accounts) | | | TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY | \$ 336,241.92 | | FEES | |

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

| ------------------------------------------------------- | x | | |---------------------------------------------------------|--------|----------------------------| | In re: | : : | Chapter 11 | | HO WAN KWOK, | : : | Case No. 22-50073 (JAM) | | Debtor. | : : | | | ------------------------------------------------------ | : x | |

## **ATTACHMENT TO MONTHLY OPERATING REPORT FOR THE PERIOD NOVEMBER 1, 2023 THROUGH NOVEMBER 30, 2023**

This attachment is incorporated into and made a part of the Monthly Operating Report ("MOR") of Chapter 11 Trustee Luc A. Despins.

# **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. Following guidance from the United States Trustee's office, this attachment is being filed as an integral part of the MOR. - 2. On July 8, 2022, the Bankruptcy Court signed an order approving the appointment of Luc A. Despins, Esq. as Chapter 11 Trustee (the "Trustee"). The information in this MOR is based only on information beginning on the date of the Trustee's appointment and only on bank accounts within the Trustee's control.[1](#page-14-0) - 3. The Trustee reserves the rights to amend, modify or supplement this MOR or update it in future MORs.

#### **Specific Responses**

#### Part 1 Responses

4. As noted above, this information is limited to cash receipts and disbursements since the Trustee was appointed and with respect to accounts under the Trustee's control. Not all cash receipts held by the Trustee as reflected in this MOR have been determined to be

1 The Trustee is currently investigating the Debtor's assets and financial affairs (with respect to which investigation the Debtor has not cooperated).

property of the estate at this time. There are various on-going litigations with respect to the funds held by the Trustee, which, if finally determined in a manner adverse to the Trustee, would materially reduce the total amount of cash held by the Trustee at this time. In addition, cash disbursements included here do not reflect payments made pursuant to the *Order (I) Authorizing Chapter 11 Trustee to Extend Financing Pursuant to Bankruptcy Code Section 363, (II) Authorizing Genever US and Genever BVI to Obtain Post-Petition Financing Pursuant to Bankruptcy Code Section 264, (III) Granting Non-Priming Liens and Providing Superpriority Administrative Expense Claims, (IV) Modifying Automatic Stay, and (V) Granting Related Relief*, entered on September 12, 2023 [Dkt. 2193], which authorized the Kwok estate to finance expenses of the Genever entities, which are described in the summary of cash receipts and disbursements.

# Part 2 Responses

- 5. To the extent this section is applicable (the Debtor is an individual), the Trustee has insufficient information to complete this section. The Trustee's counsel is currently reviewing the over 1,200 proofs of claim filed in connection with the claims bar date, which occurred on February 17, 2023. - 6. The Trustee is aware of certain professional fees and expenses that have arisen in connection with services provided by the Trustee's professionals. As of the end of the reporting period, certain interim applications for reimbursement of expenses have been approved by the Court pursuant to various orders approving interim fee applications and as set forth in the *Order Establishing Procedures for Interim Compensation and Reimbursement of Expenses for Retained Professionals*, entered on August 18, 2023 [Docket No. 2094].

#### Part 3 Responses

7. On June 27, 2023, the Bankruptcy Court entered an order authorizing and approving the sale of the Lady May [Docket No. 1953].

# Part 4 Responses

8. To the extent this section is applicable (the Debtor is an individual), the Trustee has insufficient information to complete this section.

#### Part 5 Responses

9. As of the end of the reporting period, certain interim applications for reimbursement of expenses have been approved by the Court pursuant to various orders approving interim fee applications and as set forth in the *Order Establishing Procedures for Interim Compensation and Reimbursement of Expenses for Retained Professionals*, entered on August 18, 2023 [Docket No. 2094].

10. The Trustee is aware of a number of professional firms that have provided services to the official committee of unsecured creditors or the Debtor (prior to the appointment of the Trustee) but that have not at this time had their retentions approved by the Court. The Trustee includes such professional firms (of which he is aware) in this part of the MOR out of an abundance of caution but reserves all his rights with respect to the retention and/or payment of fees with respect to such professional firms. The Trustee also notes that the Debtor may have employed professionals (prior to the appointment of the Trustee) of which the Trustee is not aware.

## Part 6 Responses

11. The Trustee is not aware of any postpetition taxes that have accrued during the time period since the Trustee's appointment.

# Part 7 Responses

12. The Trustee notes that the Debtor filed a chapter 11 plan on April 20, 2022 [Docket No. 197] (the "April 2022 Plan") with respect to which no disclosure statement was filed or approved.

#### Part 8 Responses

13. The Trustee has insufficient information to respond to Part 8.

Case 22-50073 Doc 2466 Filed 12/21/23 Entered 12/21/23 12:06:01 Page 18 of 21

Direct inquiries to: 888 761-3967

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ACCOUNT STATEMENT STARTING DATE: November 01, 2023 El Monte, CA. 91731 ENDING DATE: November 30, 2023 Total days in statement period: 30 Page 1 of 2

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BK EST/HO WAN KWOK DEBTOR LUC A DESPINS, CH11 TRUSTEE CASE #22-50073 C/O PAUL HASTINGS LLP 200 PARK AVE NEW YORK NY 10166-0005

Happy holidays from all of us at East West Bank! Thank you for choosing us as your financial bridge. We wish you a joyous and prosperous holiday season and look forward to serving you in the new year. Together, let's reach further.

# Trustee-Non Vendor MMA

| Account number Low balance Average balance Interest paid year to date | \$72,812,574.51 \$72,960,189.65 \$451,917.57 | Beginning balance Total additions Total subtractions Ending balance | | \$73,045,651.04 302,834.84 ( 1) 233,076.53 ( 6) \$73,115,409.35 | | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------|---------------|---------------------------------------------------------------------------------------|--------| | CREDITS Number Date 11-30 | Transaction Description Interest Credit | | | Additions 302,834.84 | | | DEBITS Date Transaction Description 11-20 Outgoing Wire 11-20 Service Charge 11-20 Outgoing Wire 11-20 Service Charge 11-20 Outgoing Wire 11-20 Service Charge | PULLMAN AND COMLEY LLC OUTGOING WIRE NEUBERT, PEPE AND MONTEITH P C OUTGOING WIRE OSULLIVAN MCCORMAC K JENSEN AND OUTGOING WIRE | | | Subtractions -26,102.00 -40.00 -98,955.21 -40.00 -107,899.32 -40.00 | | | DAILY BALANCES Date Amount 10-31 73,045,651.04 | Date 11-20 | Amount 72,812,574.51 | Date 11-30 | 73,115,409.35 | Amount | | INTEREST INFORMATION Annual percentage yield earned Average balance for APY | 5.17% \$72,960,189.65 | Interest-bearing days Interest earned | | \$302,834.84 | 30 |

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STARTING DATE: November 01, 2023 ENDING DATE: November 30, 2023 Page 2 of 2

BK EST/HO WAN KWOK DEBTOR

#### OVERDRAFT/RETURN ITEM FEES

| | Total for this period | Total year-to-date | |--------------------------|--------------------------|-----------------------| | Total Overdraft Fees | \$0.00 | \$0.00 | | Total Returned Item Fees | \$0.00 | \$0.00 |

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Case 22-50073 Doc 2466 Filed 12/21/23 Entered 12/21/23 12:06:01 Page 20 of 21

Direct inquiries to: 888 761-3967

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ACCOUNT STATEMENT STARTING DATE: November 01, 2023 El Monte, CA. 91731 ENDING DATE: November 30, 2023 Total days in statement period: 30 Page 1 of 2

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BK EST/HO WAN KWOK DEBTOR LUC A DESPINS, CH11 TRUSTEE CASE #22-50073 C/O PAUL HASTINGS LLP 200 PARK AVE NEW YORK NY 10166-0005

# Standard Business Checking

| Account number Low balance \$74,507.68 Average balance \$174,246.37 | | Total additions Ending balance | Beginning balance Total subtractions | \$286,788.51 142,480.00 ( 2) 212,290.83 ( 12) \$216,977.68 | | | |----------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------|--|-----------------------------------------------------------------------------------------------------------------------------------------------| | CREDITS Number | Date 11-16 11-27 | Transaction Description Pre-Auth Credit Wire Trans-IN | THE CASPER FIRM CORP PAY CASPER FIRM/KWOK T RUSTEE SETTLEMENT FUNDS PATRICK MAXIMILIAN CLOPPENBURG | | | Additions 48,750.00 93,730.00 | | DEBITS Date 11-03 11-03 11-03 11-03 11-07 11-10 11-10 11-10 11-10 11-15 11-15 11-27 | Transaction Description Outgoing Wire Service Charge Debit Memo Debit Memo Preauth Debit Outgoing Wire Service Charge Outgoing Wire Service Charge Outgoing Wire Service Charge Service Charge | RKH IT SOLUTIONS OUTGOING WIRE FIDUCIARY MAINTENA NCE FIDUCIARY COLLATER AL QUARTERLY FEE PAYMENT 231107 0000 GUSTAV RESTORATION LLC OUTGOING WIRE ARD FACILITIES MAN AGEMENT GROUP LLC OUTGOING WIRE BROSNAN RISK CONSU LTANTS LTD OUTGOING WIRE WIRE TRANS-IN | | | | Subtractions 4,200.00 40.00 25.00 6,266.74 79,069.00 1,226.12 40.00 64,087.50 40.00 57,246.47 40.00 10.00 | | Date 10-31 11-03 11-07 | DAILY BALANCES Amount 286,788.51 276,256.77 197,187.77 | Date 11-10 11-15 11-16 | Amount 131,794.15 74,507.68 123,257.68 | Date 11-27 | | Amount 216,977.68 |

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STARTING DATE: November 01, 2023 ENDING DATE: November 30, 2023 Page 2 of 2

BK EST/HO WAN KWOK DEBTOR

#### OVERDRAFT/RETURN ITEM FEES

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