Macau’s Court of First Instance has officially declared failed luxury hotel THE 13 bankrupt.
The ruling comes some 20 months after parent company South Shore Holdings applied to the Macau court for voluntary liquidation of its wholly-owned subsidiary New Concordia Hotel Limited, the sole beneficial owner of THE 13 Hotel, amid increasing pressure from its lenders.
It also comes with South Shore officially due to be delisted from the Hong Kong Exchange on Thursday, having failed to trade for the past 18 months.
The Court of First Instance stated in the Macau Gazette that Chevalier International Lifts Engineering (Macau) Limited had filed a claim…