Bankruptcy
Declaration of M. MacInnis in Support Petitioners' Reply in Support of Verified Petition.pdf
Application / notice of application · 6 May 2025
A plain-language read of this filing opens with a subscription.
What we verified from this filing13 verified · 1 withheld
- appointeeMargot MacInnis and Sandipan Bhowmik
- appointee roleJoint Official Liquidators
- courtUnited States Bankruptcy Court for the District of Delaware
- court file no25-11376 (BLS)
- statutory basisChapter 15 of the Bankruptcy Code
- statutory basissections 105(a), 1502, 1507, 1510, 1520 and 1521 of the Bankruptcy Code
- unsecured creditorsnote: Not included as a liability for solvency determination purposes; Campbells indicated amended invoices would be prepared but none submitted as of date of affidavit · page: 78 · as of: 2025-06-02 · basis: Four invoices totalling US$15,103.79 as at Initial Solvency Determination; no proof of debt ever submitted · debtor: Charitable DAF HoldCo, Ltd. · creditor: Campbells LLP · currency: USD
- unsecured creditorsnote: Not included as a liability for solvency determination; Kroll indicated no intention to submit a claim and later returned surplus funds of US$5,789 · page: 80 · as of: 2025-06-02 · basis: Potential claim for fees/disbursements from voluntary liquidation engagement; fixed fee US$18,000 plus estimated disbursements up to US$2,000 stated in engagement letter, but no POD submitted · debtor: Charitable DAF HoldCo, Ltd. · creditor: Kroll (Cayman) Ltd (Kroll Costs) · currency: USD
- unsecured creditorsnote: Disputed/unassessed claim; taken at face value only for solvency analysis purposes · page: 88 · as of: 2025-10-31 · basis: Proof of debt dated 31 October 2025 asserting indemnification/advancement claim (plus contingent interest), taken at face value, not yet assessed · amount: 741981.12 · debtor: Charitable DAF HoldCo, Ltd. · creditor: Mark Patrick (indemnification/advancement claim) · currency: USD
- unsecured creditorsnote: Post-appointment liability/expense of liquidation arising from Counsel Summons taxation; also separately described in para 75.5 as approx. US$670,000 · page: 90 · as of: 2025-11-23 · basis: Final costs certificate provided to JOLs 23 November 2025 · amount: 674744.57 · debtor: Charitable DAF HoldCo, Ltd. · creditor: Mark Patrick (taxed adverse costs - Final Costs Certificate) · currency: USD
- unsecured creditorsnote: Post-appointment liability/expense of liquidation arising from Counsel Summons taxation; also separately described in para 75.4 as approx. US$540,000 · page: 90 · as of: 2026-02-09 · basis: Final costs certificate served 9 February 2026 (inclusive of US$135,350.25 interim certificate of 31 October 2025) · amount: 542664.45 · debtor: Charitable DAF HoldCo, Ltd. · creditor: DFW (taxed adverse costs - Interim/Final Costs Certificates) · currency: USD
- financial positionnote: Document states components, not a total: assets comprise (i) contingent Claims/Fund interest valued between approx. US$269 million and US$292 million, (ii) Hueston Retainer approx. US$150,000, and (iii) surplus voluntary-liquidation cash approx. US$5,789. Liabilities comprise pre-appointment liabilities (Scott claim US$5,285.36; Patrick claim approx. US$741,981.12) plus post-appointment liquidation costs: JOLs' remuneration/disbursements approx. US$2.25 million, Cayman legal fees/costs (incl. ATE insurance) approx. US$5.51 million, foreign legal fees/costs approx. US$1.45 million, taxed adverse costs to DFW approx. US$540,000, and taxed adverse costs to Mr Patrick approx. US$670,000. JOLs concluded Company solvent on balance-sheet basis (assuming contingent Claims valued at full contingent value) but insolvent on a cash-flow basis at commencement of proceeding. · page: 95 · as at: 2026-03-31 · basis: JOLs' solvency assessment (balance-sheet test), SOA/affidavit management estimate; not audited · scope: Entity-level: Charitable DAF HoldCo, Ltd. (the Company) only · currency: USD
- unsecured creditorsnote: Pre-appointment liability; original POD dated 16 May 2025 was $18,785.36, prose figure superseded by reduced/agreed amount as of solvency assessment at 31 March 2026 · page: 95 · as of: 2026-03-31 · basis: Proof of debt, reduced by agreement (originally US$18,785.36, reduced to US$5,285.36 after credit and retainer refund confirmed August 2025) · amount: 5285.36 · debtor: Charitable DAF HoldCo, Ltd. · creditor: Grant Scott (Mr Scott's Indemnity Claim) · currency: USD
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.