Liquidations & Insolvencies

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Counsel for accused $5.5M+ crypto embezzler Thomas Braziel accused of frustrating investigation into ‘diverted funds’

January 31, 2025
Counsel for distressed crypto investor Thomas Braziel - New York law firm Amini LLC and one of its attorneys, Jeffrey Chubak - have allegedly failed to respond to subpoenas from the new Receiver of Fund.com, Inc., who is trying to find out what happened to millions of dollars Braziel is suspected of embezzling from the firm while serving as its Receiver from 2016 until he was removed by a Delaware Chancery Court judge in 2024.

Jervois Global Ltd. et al: Chapter 11 Petition

January 28, 2025
Chapter 11 Petition by Jervois Texas, LLC, Jervois Global Limited, of Australia; Jervois Suomi Holding Oy, of Finland; Jervois Finland Oy, of Finland; Jervois Japan Inc., of Japan; Formation Holding US, Inc., Jervois Mining USA Limited, and Jervois Americas LLC, collectively described as an Australia-headquartered "leading global supplier of advanced manufactured cobalt products, serving customers in the powder metallurgy, battery, and chemical industries" whose "principal asset base is comprised of an operating cobalt facility in Finland and non-operating plants in both the United States and Brazil", at the U.S. Bankruptcy Court for the Southern District of Texas.

Neil Bradbury: Chapter 15 Petition (England)

January 28, 2025
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England by Paul Cooper and Paul Appleton, as the Foreign Representatives of Neil Bradbury, a.k.a. Nick Bradbury, of Somerset, England, whose liabilities are estimated at £16.3 million, filed at the U.S Bankruptcy Court for the Southern District of New York.

Natural Capital Ltd.: Chapter 15 Petition (Cayman Islands)

January 23, 2025
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Michael Pearson and Nicola Cowan, of FFP, as the Foreign Representatives of Natural Capital Ltd., which "purportedly engaged in the purchase and sale of unrefined gold", filed at the U.S. Bankruptcy Court for the Southern District of Florida.

Montoux Ltd.: Chapter 15 Petition (New Zealand)

January 14, 2025
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in New Zealand by Heath Leslie Gair, as the Foreign Representative of Montoux Limited, described as "a global leader in the provision of actuarial artificial intelligence and modelling tools designed to assist actuaries and insurance companies assess and manage risk", filed at the U.S. Bankruptcy Court for the District of Delaware.

City Credit Investment Bank Ltd. v. Citibank, N.A. et al: Amended Discovery Application (Malaysia)

January 7, 2025
Amended Application by Luke Furler, as the liquidator of Malaysia-based City Credit Investment Bank Ltd., to take discovery from Citibank, N.A., Bank of America, N.A., Deutsche Bank, AG, Deutsche Bank Trust Company Americas, New York, JPMorgan Chase Bank, N.A., and Bank of New York Mellon Corp. for use in legal proceedings in Malaysia regarding a "global fraud" in which "an estimated 17,000 individuals" are "owed approximately 1.1 Billion U.S. Dollars", filed at the U.S. District Court for the Southern District of New York.

Felix Payment Systems Ltd.: Chapter 15 Petition (Canada)

January 7, 2025
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Andrew Cole, as the Foreign Representative of Felix Payment Systems Ltd., described as "a privately-held financial technology company based in Vancouver, British Columbia specializing in cloud-based payment acceptance infrastructure and associated software systems", filed at the U.S. Bankruptcy Court for the Eastern District of North Carolina.

Ligado Networks LLC et al: Chapter 11 Petition

January 5, 2025
Chapter 11 petition by Ligado Networks LLC, Ligado Networks (Canada) Inc., Ligado Networks Holdings (Canada) Inc., Ligado Networks Corp., Ligado Networks Subsidiary LLC, ATC Technologies, LLC, Ligado Networks Build LLC, Ligado Networks Finance LLC, Ligado Networks Inc. of Virginia, One Dot Six LLC, and One Dot Six TVCC LLC, described as "a mobile communications company that operates a satellite network across North America that has been providing mobile satellite services to government and commercial customers for over 25 years", filed at the U.S. Bankruptcy Court for the District of Delaware.

Binance.US v. Voyager Digital LLC et al: Complaint (‘$10M Breach of Contract’)

December 26, 2024
Complaint "for the return of its $10 million deposit" regarding "an asset purchase agreement with West Realm Shires Inc, also known as FTX, for the acquisition of Voyager's assets" in BAM Trading Services Inc., d.b.a. Binance.US v. Voyager Digital LLC, Voyager Digital Holdings Inc., Voyager Digital Ltd., of Canada, and Michael Wyse, as the Plan Administrator of the Wind-Down Debtor, at the U.S. Bankruptcy Court for the Southern District of New York.

Cayman Investment Funds Master SPC et al: Order Granting Motion to Compel Alliance Metals LLC et al to Produce Documents

December 20, 2024
Foreign Representatives' Motion to Compel Production of Documents by Alliance Metals, LLC, Technocon International, Inc., Sinai Holdings, LLC, Athena Medical Management Group, LLC, Jacob Gitman, and Ariel Gitman, a.k.a. Larry Gitman, in a Chapter 15 bankruptcy recognition petition filed by Samuel Cole and Mitchell Mansfield, of Kroll, as the Foreign Representatives of Cayman Investment Funds Master SPC (in Official Liquidation) and Cayman Investment Funds SPC (in Official Liquidation), at the U.S. Bankruptcy Court for the Southern District of Florida.

Aabar Investments PJS Ltd. et al v. Amicorp B.V.I. Ltd. et al: Claim Form (‘Knowing Participation in $7.65B 1MDB Fraud’)

December 20, 2024
Claim Form alleging the respondents "knowingly participated" in an alleged $7.65 billion fraud committed by their clients against "a now-insolvent Malaysian sovereign wealth fund" known as 1MDB in Angela Barkhouse and Toni Skukla, as Joint Liquidators of Aabar Investments PJS Limited, SRC International (Malaysia) Limited, and Brazen Sky Limited v. Amicorp B.V.I. Limited, of the British Virgin Islands; Amicorp Management Limited, of the British Virgin Islands; Artemas Wealth Management (Barbados) Ltd., formerly known as Amergeris Wealth Management (Barbados) Ltd., of Barbados; Amicorp Fund Services N.V., of Curaçao; Amicorp Singapore PTE. Ltd., of Singapore; Amicorp Hong Kong Limited, of Hong Kong; Amicorp Limited, of Hong Kong; Amicorp Bank and Trust Limited, of Barbados, and Antonius Rudolphus Wilhelmus Knipping, a.k.a. Toine Knipping, of Dubai, United Arab Emirates, at the British Virgin Islands High Court.

The Lion Electric Company et al: Chapter 15 Petition (Canada)

December 18, 2024
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Richard Coulombe, as the Foreign Representative of The Lion Electric Company, Lion Electric Manufacturing USA, Inc., Lion Electric Holding USA Inc., The Lion Electric Co. USA Inc., Lion Electric Finance USA, Inc., Northern Genesis Acquisition Corp., Lion Electric Vehicle Finance Canada Inc., and Lion Electric Finance Canada Inc., whose group "designs, develops, manufactures and distributes all-electric medium and heavy-duty urban trucks and busses", filed at the U.S. Bankruptcy Court for the Northern District of Illinois.

Cayman Investment Funds Master SPC et al: Response of Alliance Metals LLC et al to Motion to Compel Production of Documents

December 16, 2024
Response of Parties in Interest to Foreign Representatives' Motion to Compel Production of Documents by Alliance Metals, LLC, Technocon International, Inc., Sinai Holdings, LLC, Athena Medical Management Group, LLC, Jacob Gitman, and Ariel Gitman, a.k.a. Larry Gitman, in a Chapter 15 bankruptcy recognition petition filed by Samuel Cole and Mitchell Mansfield, of Kroll, as the Foreign Representatives of Cayman Investment Funds Master SPC (in Official Liquidation) and Cayman Investment Funds SPC (in Official Liquidation), at the U.S. Bankruptcy Court for the Southern District of Florida.

Gregory King Bankruptcy Trustees v. Douglas Park: Judgment (‘Dismissing Strike-Out & Reverse Summary Judgment Applications’)

December 16, 2024
Judgment dismissing defendant's strike-out and reverse summary judgment applications regarding a complaint seeking to claw-back £1.7 million under the Fraudulent Conveyances Act in Adrian Hyde and Edgar Lavarello, as Joint Bankruptcy Trustees of Gregory King, who was described as "a former Scottish solicitor turned financier" v. Douglas Park at the Supreme Court of Gibraltar.

Dubai-based BVI investment firms ‘All Blue’ seek Chapter 15 bankruptcy recognition in U.S. amid investigation into ‘$126M naked short trade losses’

December 16, 2024
The liquidators of Dubai-based, British Virgin Islands-domiciled All Blue Investments North Star 1 Ltd. and All Blue Investment Management Ltd. have filed for Chapter 15 bankruptcy recognition in Miami amid an investigation into losses of $126 million from "improper naked short trades" and the suspected shifting of trading profits to two Cayman Islands affiliates, Red Rowan Investments Ltd. and Washington Muse Investments SPC.

All Blue Investments North Star 1 Ltd. et al: Chapter 15 Petition (British Virgin Islands)

December 13, 2024
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the British Virgin Islands by Martin Trott and Nathan Mills, both of R&H Restructuring, as the Foreign Representatives of All Blue Investments North Star 1 Ltd. (in Liquidation), described as an investment fund whose liquidators "have received over $125 million in claims filed by Broker-Dealers for improper “naked short trades” made by the Foreign Debtors in further of investment activities", and All Blue Investment Management Ltd. (in Liquidation), filed at the U.S. Bankruptcy Court for the Southern District of Florida.

Cayman Investment Funds Master SPC et al: Motion to Compel Alliance Metals LLC et al to Produce Documents

December 10, 2024
Foreign Representatives' Motion to Compel Production of Documents by Alliance Metals, LLC, Technocon International, Inc., Sinai Holdings, LLC, Athena Medical Management Group, LLC, Jacob Gitman, and Ariel Gitman, a.k.a. Larry Gitman, in a Chapter 15 bankruptcy recognition petition filed by Samuel Cole and Mitchell Mansfield, of Kroll, as the Foreign Representatives of Cayman Investment Funds Master SPC (in Official Liquidation) and Cayman Investment Funds SPC (in Official Liquidation), at the U.S. Bankruptcy Court for the Southern District of Florida.

Probis Financial Services PTY Ltd. v. City Credit Investment Bank Ltd.: Grounds of Judgment (Contested Appointment of Liquidator)

December 10, 2024
Grounds of Judgment appointing Luke Furler as liquidator in Probis Financial Services PTY Limited, of Australia, described as a company in voluntary administration that "carried on business as a financial and insurance service provider" v. City Credit Investment Bank Limited, of Labuan, at the High Court in Sabah and Sarawak at the Federal Territory of Labuan, Malaysia.

InterCement Brasil S.A. et al: Chapter 15 Petition (Brazil)

December 9, 2024
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Brazil by Antonio Reinaldo Rabelo Filho, as the Foreign Representative of InterCement Brasil S.A., of Brazil; InterCement Participações S.A., of The Netherlands; InterCement Financial Operations B.V., of The Netherlands, and InterCement Trading e Inversiones S.A., of Spain, filed at the U.S. Bankruptcy Court for the Southern District of New York.

ICM SPC v. Phoenix Commodities PVT Ltd.: Originating Summons

December 5, 2024
Originating Summons that "The Defendants be restrained from presenting, or causing Phoenix Commodities Pvt Ltd to present, a winding up petition against the Plaintiff" in ICM SPC v. Ryan Jarvis and John Johnston, as Joint Liquidators of Phoenix Commodities PVT Ltd. (in Liquidation), at the Grand Court of the Cayman Islands.

Transworld Payment Solutions U.K. Ltd. v. First Curacao International Bank N.V. et al: Plaintiff’s Amended Reply (‘Dishonest Assistance to VAT Fraud’)

December 4, 2024
Plaintiff's Amended Reply to Defendants' Amended Defenses in Transworld Payment Solutions U.K. Limited, of London, England, and Stephen Hunt, as Liquidator of Transworld Payment Solutions U.K. Limited v. First Curacao International Bank N.V., of Curaçao, and Johannes Christiaan Martinus Augustinus Maria Deuss, a.k.a. John Deuss, a citizen of the Netherlands residing in Bermuda, at the High Court of Justice of England and Wales.

Yao Guoliang v. Speed Success Group Ltd.: Winding Up Petition (‘Loss of Confidence’)

December 3, 2024
Winding Up Petition in Yao Guoliang, of Hong Kong v. Speed Success Group Limited, described as a shareholder in Strong Petrochemical Holdings Limited, which is "the listed holding company of a group of subsidiaries and related entities" with "operations in Hong Kong, Mainland China, Macau and Singapore" whose "core business ... is the trading of crude oil, petroleum products and petrochemicals", at the Grand Court of the Cayman Islands.