China Fishery is in post-confirmation administration, with Shaun Folpp as Plan Administrator, quarterly reporting still being filed, 14 jointly administered cases remaining open, and recent activity centered on plan implementation, residual share-related stipulations, distributions, and cancelled omnibus hearings rather than a live operating restructuring. The case began on June 30, 2016, when China Fishery Group Limited (Cayman) filed chapter 11 in the Southern District of New York, supported by the Ng Puay Yee first-day declarationDkt. 2, which framed a complex cross-border fishing and fishmeal business with roughly $1.1 billion of funded debt, including $650 million and $150 million syndicated term loan facilities secured by substantially all debtor and subsidiary assets and $300 million of 9.75% senior notes.
The case ultimately moved through a long plan process rather than a quick sale or liquidation. The debtor filed a plan supplement in February 2022 that included the CFGL-PARD Plan Administrator Agreement and Shaun Folpp’s CV, setting up the post-confirmation governance structure under the plan supplementDkt. 2944. The operative restructuring path was the Seventh Amended Joint Chapter 11 PlanDkt. 2968, a 17-class reorganization plan for China Fishery, Pacific Andes Resources Development Limited, and affiliated debtors, which the court confirmed through the confirmation orderDkt. 2978 entered on February 24, 2022.
As of the March 31, 2026 reporting cycle, the confirmed plan remains in wind-down and implementation mode. The Plan Administrator’s global post-confirmation notesDkt. 3902 report that 23 cases had been closed by final decree between February 2025 and February 2026, while 14 cases remained open; CFGL and PAIH were the only active debtors with cash activity, CFGL continued paying quarterly U.S. Trustee fees for all debtors, PAIH unsecured claimants were receiving an 8.75% distribution, and Joint Debtor unsecured claims were still being reviewed and adjusted. A related Zhonggang Fisheries post-confirmation reportDkt. 3901 shows one affiliated debtor with no current-quarter cash activity, no distributions to claim classes, and an anticipated final-decree application by December 31, 2026.
Recent docket activity points to administrative cleanup rather than a contested near-term hearing track. Folpp filed a notice of stipulation related to Alliance Capital Enterprises, Conred, and Davis sharesDkt. 3903 in furtherance of the PAIH and CFGL-PARD plans, and then cancelled the May 27, 2026 omnibus hearing through the notice of cancellationDkt. 3904, with Epiq later filing service certificates for that cancellation. The near-term posture is therefore continued post-confirmation administration, claim reconciliation and distributions where applicable, remaining asset or share-transfer implementation, and eventual final-decree work for the still-open debtors.