Latest update on bankruptcy case of Miles Guo

A news update has surfaced in Miles Guo’s bankruptcy case. It is known that the newly appointed property trustee involves major conflicts of interest with HNA Holding Group Co., Ltd. (HNA) and PAG whose subsidiary is PAX. It is also known that his law firm has many interests within the Chinese Communist Party (CCP). 

The United States Trustee appointed the law firm Womble Bond Dickinson as the trustee of Mr. Guo’s assets (Trustee), under the jurisdiction of the U.S. DOJ on 30 June 2022.

2022/07/08 – An application was filed by the “US Trustee” with the Bankruptcy Court. The application requested that the trustee of Mr. Guo’s assets be replaced by lawyer Luc A. Despins.

Luc Despins is co-chair of the Financial Restructuring group and a partner in the Corporate practice of Paul Hastings and is based in the firm’s New York office. Mr. Despins is a bankruptcy practitioner with over 30 years of experience. He represents debtors and creditors in some of the most high profile and complex restructuring matters. He is widely recognized as one of the world’s leading financial restructuring lawyers and has been cited on numerous occasions for his role in major bankruptcies.

This firm has not only represented PAG and related parties, the firm’s clients also include Binance, Shanghai Fosun Pharma, Bohai Bank, Ping An of China, China Life Insurance, CDH Investments, Evergrande Real Estate, Vanke, Greentown, SoftBank, China Everbright Holdings and numerous Chinese state-owned enterprises. All of these hold major conflicts of interest in this case.

Paul Hastings also represented HNA in the acquisition of the Oki Seattle golf course asset package for approximately US$137 million. The trust company of Spring Real Estate Investment Trust initiated a takeover bid worth HK$5.24 billion (approx. US$671 million).

Paul Hastings Law Firm has many lawyers, partners, and team members consisting of CCP and former CCP Government officials, as well as prosecutors.

In one case, Yan Jia, a partner of Paul Hastings was dispatched by the ‘state’ to study at law school. He was a student of Wang Huning at Fudan University. The American judiciary and the Western rule of law can be corroded and destroyed by the CCP. 

Miles, “This really opened my eyes.”