Examples of Offshore II in a sentence
Option 2 an exchange of shares in Offshore I for Class B shares in Offshore II with no lock-up period and 90 days’ notice for redemptions, but subject to a redemption cap of 12.5% of the aggregate NAV of the investor’s shares per redemption period, with requests in excess of the 12.5% redemption cap to be redeemable on the future redemption dates.
The private placement memoranda also indicated that, as Cayman entities, Offshore II and Master Fund II could be subject to winding-up proceedings in the Cayman Islands.
Petitioners thereafter applied for an order removing KPMG as Joint Official Liquidators of Master Fund II and appointing Petitioners, based on the fact that they had already been appointed as Joint Official Liquidators of Offshore II.
A motion authorizing the proper City Officials to execute a revocable license with TRG&S Las Olas Beach Club, Ltd.
Ltd., a creditor of Offshore II, filed a petition seeking the winding up of Offshore II.
To restructure Offshore I and Master Fund I, Ribotsky formed Offshore II (again, designed principally to accommodate eligible non-U.S. investors), AJW Qualified Partners II, LLC (“ Qualified Partners II”), and Master Fund II.
Shortly after their appointment over Offshore II and Master Fund II, Petitioners learned that neither fund held significant tangible assets in its own name.
Offshore II and Master Fund II were incorporated as exempted limited liability companies under the Cayman Islands Companies Law.
On March 30, 2011, Ribotsky sought to put Master Fund II into a voluntary liquidation by signing a resolution on behalf of Offshore II and Qualified Partners II (the only shareholders of Master Fund II).
As a result, because First Street owned all of the voting shares of Offshore II and was the fund’s investment manager, and given that Offshore II owned a majority of Master Fund II’s shares, First Street also indirectly held the power to vote the shares of Master Fund II.