CATHEDRAL CORE SERVICES LP (IN LIQUIDATION)
UPDATED INFORMATION AND REPORTING
As advised in the notice issued by the Liquidator on April the 27th 2020, except for the limitations of the management and incorporation Documents and applicable regulatory framework of the Trust, the Liquidator will remain as Trustee until the objective of the Trust is achieved. Shareholder on CCS Liquidation Trust should note that all updated reports and relevant information is not available here and it’s being published on the Trust’s Shareholders Website. For more information on the current ongoing status please visit the Trust’s Shareholders Website directly at http://www.universum.icu/shareholders/
BACKGROUND AND APPOINTMENT
Cathedral Core Services LP is a limited liability partnership formerly registered in New Zealand, of which CATHEDRAL PRIMARY CONTROLLER HOLDING LIMITED was the General Partner.
As a result of a Termination Event, Cathedral Core Services LP was placed into liquidation by resolution of its partners pursuant to Section 88(1) of the Limited Partnership Act 2008 (“the Partnership Act”). The process was started on September the 1st 2016 and formally finalized by the Insolvency Practitioner, Maria Escudero, the appointed liquidator of the partnership, all duties were fulfilled pursuant to section 253 of the Companies Act 1993 and in accordance with best liquidation practices and applicable regulation in all relevant Jurisdictions.
Cathedral Core Services LP was a member of the Cathedral Financial Group of Companies which includes Cathedral Investment Bank. As a result of this liquidation the risks associated with loss of capital, Cathedral Investment Bank has stepped in and has agreed to cover the liquidation liabilities produced by this liquidation including all remaining and outstanding balances of any of the claims submitted by any Secured and Unsecured Creditors.
324 Accounts were found to be affected by this liquidation which had registered shares distributed to them under their name, Those Creditors now own registered shares under which they directly exercise their rights in relation to the equitable interest of the underlying asset rights transferred to a Trust by the Bank in proportion to the value of their claim and agreed interest calculation as per the reports below. All other unaffected accounts (5,192) had also been repaid via their broker dealer, intermediary or related third parties.
The information contained in this website along with any reports, notices and any appendices are not intended for general circulation other than as required by law, nor is it to be reproduced or used for any purpose other than that outlined above without the written permission in each specific instance from the Liquidator.
In preparing all reports, communications, appendices and attachments, we have relied upon information provided to us. We have not independently verified or audited that information. Whilst all care and attention has been taken in compiling the information on this website, we do not accept any liability whatsoever to any party as a result of the circulation, publication, reproduction or use of this information.
In regards to reports, we reserve the right (but are under no obligation) to review and, if we consider necessary, revise the information contained in the reports in respect of any information existing at the date of such reports which becomes known to us after that date.
This Website, the Notices or any reports could have been updated amended or modified after they were first published, if you have any questions on this regard please request the latest version from the Liquidator directly.
A first report was issued on October 7th 2016. If you are a creditor you can request such report by emailing email@example.com
Furthermore, you can download the following notices:
Cathedral Core Services LP (In Liquidation)
The company provided Investment Advisory Services in Several Countries including, but not limited to, Introductory Brokerage Services, General Consulting Services, Financial Consulting Services, Financial Analysis, Financial Structuring and Investment Banking.
STATEMENT OF AFFAIRS
The company had offices located in seven countries and all information was gathered, centralized and reviewed by the Liquidator as per the 1st, 2nd, 3rd and 4th liquidation reports.
The priority of the Liquidator has been returning creditors their claimed amount as quickly as possible and trying to obtain assurances from the Bank regarding the repayment of such amounts without incurring any procedural risks for Creditors during such process. In any liquidation of this magnitude and complexity such repayments and the subsequent completion of a liquidation of this type usually takes years. Steps were taken to ensure that all creditors who put forward valid claims were being paid 100% of the value of their claim in the shortest time possible and that no deviations were or could be taken by any parties when the process was implemented.
To assist with this aim, the Liquidator has aided to establish an independent vehicle in the form of a Trust that is managed by Creditors via an Executive Committee and the Liquidator acting as a Trustee. Assets were settled on the trust in a higher proportion of the value of the claimed amounts. The Trust was registered in the Commonwealth of Dominica under the name “CCS Liquidation Trust Inc” with Incorporation Number (2018/C0238). All creditors that have submitted a valid ACF and an A1 Formats were paid 100 cents on the dollar by the Trust shares, assets deposited in the Trust are, according to the last valuation available, valued at more than double the initial estimation of liabilities of the partnership as published in the previous reports and the land rights are as of now in control of the Trust.
The independent vehicle in the form of a Trust has now taken over the process as per a repurchasing procedure of outstanding shares, reports are available to Shareholders directly in the Trust´s Shareholders website.
LIABILITIES AND CREDITOR CLAIMS
For ease and efficiency we have divided the creditors into two groups:
A) Standard Creditors (Secured or Unsecured)
- You are a “Standard Creditor” if you are an Employee, or a service or supplier or any related type contract with Cathedral Core Services LP (In Liquidation) including but not limited to any services supplied to Cathedral Core Services LP (In Liquidation) and in which money is owed.
B) Clients or Investor Type Creditors
- You are a client if you had invested any monies with Cathedral Core Services LP (In Liquidation) in any type of product or services offered.
The liquidator of Cathedral Core Services LP (In Liquidation) (“the entity”), does hereby fix Friday the 31th of March 2017, as the day on or before which the entities’ “Regular Creditors” are to submit their claims, and to establish any priority their claims may have under Section 312 of the Companies Act 1993.
Regular Creditors who did not made a claim by Friday the 31th of March 2017 may be excluded from any distribution made.
A process for submission of a Client Claim or a Standard Creditor Claim (Secured or Unsecured) along with a complete FAQ can be found at www.cathedralcore.com/claimfaq/
The Standardized Claim Formats can be downloaded at www.cathedralcore.com/claimsf.pdf
The liquidator acting as Trustee as per the notice issued earlier to Creditors, hereby informs you that all Creditors may be able to access subsequent reports and all relevant information of the Trust through the Shareholders website at http://www.universum.icu/shareholders/
The liquidator will continue to act as Trustee for the time necessary to fulfil the objectives of the Trust in the Caribbean as per the notice issued earlier to Creditors.
All Creditors which are part of the liquidation and which have had registered shares distributed to them under their name can directly control the rights of the underlying assets in the form of land in the proportion of the value of their claim and can access reports and all relevant information of the Trust through the Shareholders website at http://www.universum.icu/shareholders/
A notice was issued pursuant Section 320 of the Act and can be accessed here.
All contact requests and enquiries that were previously made to the Liquidator, should be done directly to the Trustee at firstname.lastname@example.org or in the following postal address; 1st Floor Beau Bois, Castle Comfort, 00152 Commonwealth of Dominica, Dominica W.I. Caribbean.
Cathedral Core Services LP (in Liquidation)
c/- McDonald Vague Limited