GPB Holdings II, LP: going-concern / distress — Second Circuit affirms receivership over GPB entities; stay lifted, receiver assumes control

GPB Holdings II, LP

On Dec 3, 2024, Second Circuit affirmed Receivership Order and lifted stay; receivership took effect immediately.
Joseph T. Gardemal III appointed as Receiver with full powers over GPB Capital Holdings and affiliated partnerships.
Court has exclusive jurisdiction over all assets of Highline Management, GPB, and other Receivership Entities.
Directors Walter Bishop and Jane Kanter ceased to serve as directors of Highline Management.

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 U.S. District Court for the Eastern District of New York (petition 2023-12-08).

Proceeding: receivership
Court: U.S. District Court for the Eastern District of New York
Petition: 2023-12-08

Exact text from the filing

On December 8, 2023, the U.S. District Court for the Eastern District of New York (the “ Court ”) entered an order (the “ Receivership Order ”), in response to a motion filed by the U.S. Securities and Exchange Commission, appointing Joseph T. Gardemal III as the receiver (“ Receiver ”) over GPB Capital Holdings, LLC (“ GPB ”), GPB managed partnerships (including GPB Holdings II, LP (the “ Partnership ”)) , and certain GPB affiliated entities, including Highline Management, Inc. (collectively, the “ Receivership Entities ”).

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Source: SEC EDGAR

accession 0001104659-24-125939

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