The Receivership Expands to China

In the past month legal counsel has been very busy utilizing the receivership appointment and powers granted Robert W. Seiden on February 1, 2019 in the U.S. District Court Southern District of New York. Today we are pleased to announce that the High Court of the Hong Kong Special Administrative Region Court of First Instance has appointed Robert W. Seiden and our partner in Hong Kong to serve in the capacity as co-receivers in Hong Kong for our matter. The Court also granted an injunction in Hong Kong similar to the injunction previously granted in New York. Among other items, all known LKM bank accounts in the US and Hong Kong are now frozen, and the receiver will have power to address directors and officers of LKM that have, to date, ignored the receiver’s request to cooperate with the administration of the receivership estate. This is a significant step forward in the receivership process as each jurisdiction recognized will only further aid and empower the Receiver’s effectiveness and ultimate success of the outcome. We will now proceed on several fronts in China pursuant to our original receivership order and in conjunction with the new HK jurisdiction recognized and ordered by the courts there with the goal of restoring the assets of LKM to their rightful owners the shareholders of the company.

5 thoughts on “The Receivership Expands to China”

  1. The company’s headquarter is located in Beijing and most assets should be in there too. Building receivership in Beijing will be critical.

  2. I am very pleased that this action is being taken , this company has robbed many a USA investors of their savings. I wish there was a law in China that would punish the BOD by hanging the in the middle of china square..

    I pray, you are successful in this endeavor and may you help us poor folks in recovering some of their hard earned money.

    Knowing the BOD, I would not be surprised that they have already emptied out all the bank account.

  3. While value recapture and preservation should be job #1, I do hope there is a plan for retribution against the perpetrators of this horrendous crime.

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