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IN RE GEROVA FINANCIAL GROUP, LTD.

No. 12-13641 (ALG).

482 B.R. 86 (2012)

In re GEROVA FINANCIAL GROUP, LTD., et. al. Companies in a Foreign Proceeding.

United States Bankruptcy Court, S.D. New York.

October 22, 2012.

Attorney(s) appearing for the Case

Hogan Lovells U.S. LLP, By: Peter A. Ivanick, Esq., Robin E. Keller, Esq., Scott W. Reynolds, Esq., New York, NY, for Petitioners.

Olshan Frome Wolosky LLP, By: Michael S. Fox, Esq., Jordanna L. Nadritch, Esq., New York, NY, Sulmeyer Kupetz, APC, By: Victor A. Sahn, Esq., Steven F. Werth, Esq., Los Angeles, CA, for CAC Group, Inc., Greybox LLC and Gion Funding Settlements. Inc.

MEMORANDUM OF OPINION

ALLAN L. GROPPER, Bankruptcy Judge.

Before the Court are chapter 15 petitions filed by the joint liquidators (the "Liquidators") of Gerova Financial Group, Ltd. ("GFG") and Gerova Holdings Ltd. ("GHL", and together with GFG, "Gerova"), debtors in foreign proceedings pending before the Supreme Court of Bermuda (the "Bermuda Proceedings"). The Liquidators seek recognition of the Bermuda Proceedings as foreign main proceedings under...

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