GPB Holdings II, LP: going-concern / distress — EDNY Court converts GPB Capital's monitorship to receivership, seizing all assets of GPB Holdings II

GPB Holdings II, LP

On Dec 8, 2023, EDNY Court ordered conversion of monitorship to receivership for GPB CH and related entities, including GPB Holdings II.
Joseph T. Gardemal III appointed as receiver; granted all powers of officers and directors of Receivership Entities.
Court took exclusive jurisdiction and possession of all assets of Receivership Entities.
Litigation injunction imposed on cases filed against GPB CH, GPB Holdings II, and others.

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

GPB Holdings II, LP entered receivership in United States District Court for the Eastern District of New York (petition 2023-12-08).

Proceeding: receivership
Court: United States District Court for the Eastern District of New York
Petition: 2023-12-08

Exact text from the filing

On December 8, 2023, the EDNY Court entered an order that (i) the Monitorship be converted to a receivership over GPB CH and related entities (the “Receivership Entities”), including the Partnership, and (ii) a litigation injunction be entered (the “Receivership Order”).

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Source: SEC EDGAR

accession 0001104659-23-125769

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