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IN THE GRAND COURT OF THE CAYMAN ISLANDS
FINANCIAL SERVICES DIVISION

FSD No: 19 of 2021 (NSJ)

IN THE MATTER OF THE COMPANIES ACT (2023 REVISION)

AND IN THE MATTER OF GBC OIL COMPANY LTD. (IN OFFICIAL LIQUIDATION)

The Honourable Justice Segal
In Chambers, 23 June 2023

ORDER

UPON the application of Christopher Kennedy and Barry Lynch of Alvarez & Marsal Cayman Islands Limited as the Joint Official Liquidators (the “JOLs”) of GBC Oil Company Ltd (In Official Liquidation) (the “Company”) by Summons dated 10 May 2023 (the “Summons”)

AND UPON reading the Second Affidavit of Barry Lynch sworn on 16 May 2023 and Exhibit BL-2 thereto, the Third Affidavit of Barry Lynch sworn on 21 June 2023 and Exhibit BL-3 thereto, and the Fourth Affidavit of Barry Lynch sworn on 22 June 2023 and Exhibit BL-4 thereto (as modified by the Erratum to Mr Lynch’s Fourth Affidavit, filed on 23 June 2023)

AND UPON the Court hearing from legal counsel to the JOLs at the hearing of the Summons at 9:00am on 23 June 2023

IT IS ORDERED THAT:

1. the Court dispenses with the requirement under CWR O.9 r.1(1) to form a liquidation committee;
2. the Court sanctions the entry by the JOLs into:

This ORDER is issued by Campbells LLP, Attorneys-at-Law for the JOLs, whose address for service is Floor 4, Willow House, Cricket Square, George Town, Grand Cayman (Ref: SMT/19105-33741).

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1. an Assignment Agreement between the Company and Omni Bridgeway Limited (“OBL”) dated 8 May 2023 whereby inter alia the Company assigns to OBL all of GBC’ rights, title and interest in the Claims (as defined in Recital H of the Assignment Agreement); and
2. a Termination and Release Agreement between the Company and OBL dated 8 May 2023.

3. pursuant to section 152 of the Companies Act, the Company be dissolved 14 days from the date of this order;
4. the JOLs’ liquidation files shall be preserved for three years after the dissolution of the Company and may then be destroyed;
5. the Company’s books and records shall be preserved by the JOLs for three years after the dissolution of the Company and may then be destroyed; and
6. there be no order as to costs.

Dated this 23^rd day of June 2023

Filed this 23^rd day of June 2023

Signature

THE HONOURABLE JUSTICE SEGAL
JUDGE OF THE GRAND COURT