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After more than a decade in operation, Scottish independent whisky bottler Chapter 7 has gone into liquidation due to cashflow pressures and a downturn in sales.
Chapter 7’s Monologue whisky range
Kevin Mapstone and Kenneth Craig of insolvency specialist Begbies Traynor were appointed joint liquidators of Paisley-based Chapter 7 on 2 October 2025.
Founded by Selim Evin in 2014, Chapter 7 produced more than 50 specialist small-batch whiskies.
In August 2022, Chapter 7 opened a bottling facility in Glasgow, bringing production fully in-house after previously using a third-party supplier.
However, the company was hit by ‘falling global demand and a softening of discretionary spend…
KUALA LUMPUR (Nov 5): Indonesia’s high-speed train operator is struggling with debts and the government will step in with financial support, the Straits Times reported on Wednesday.
The consortium operating the service, Kereta Cepat Indonesia China, is currently in advanced talks to restructure around 85 trillion rupiah (RM21 billion) in debts with China Development Bank amid interest payment burdens, the Singapore newspaper said.
“Basically, there is no problem” for Indonesia to help with the repayments, President Prabowo Subianto was quoted as saying by Straits Times. “We would pay maybe around 1.2 trillion rupiah per year [in interest expense].”
The 142km railway connecting the capital Jakarta and Bandung, the country’s…
The National Company Law Tribunal (NCLT), held that the petition filed by IDBI Bank was within the period of limitation, as the Corporate Debtor had acknowledged the debt in its audited balance sheets for multiple financial years. Each such acknowledgment, under Section 18 of the Limitation Act, 1963, was construed to have extended the limitation period, thereby rendering the Section 7 application timely.
The Present Company Petition is filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (‘IBC’/ ‘the Code’) read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 by IDBI Bank Limited (‘the Financial Creditor/Petitioner’) for initiating Corporate …
On October 30, Singapore-based art investment firm Art Works, which also runs a gallery and advisory, abruptly ceased operations and entered liquidation, as confirmed by public records. The sudden closure has left staff unpaid and artists uncertain about the status of their artworks, which remain in the company’s possession.
Incorporated in 2011 as Art Index International, the firm claimed to be Asia’s first platform for trading fractional ownership of fine art. It rebranded as Art Works in 2017 and launched a gallery at One Holland Village in December 2023.
The day following the liquidation, a notice at the gallery entrance stated that it was “closed for private event.” Inside, artworks from the group…
The appellate tribunal National Company Law Appellate Tribunal (NCLAT) has set aside an appeal filed by Reliance Realty, a step-down entity of debt-ridden Reliance Communications, seeking recovery of rental and assets from Independent TV, a firm which was in the DTH business and is now facing liquidation.
The NCLAT has upheld the earlier order passed by the Mumbai Bench of NCLT, which had declined Reliance Realty’s plea and said the liquidation process of Independent TV (formally known as Reliance Big TV) has to be completed in a time-bound manner and in the shortest possible time.
A two-member Bench said the liquidation process should not be “disrupted and derailed by the Appellant (Reliance Realty) who for no cogent reasons had never…
Pub insolvencies saw a marked increase during Q2 and Q3 of 2025, reversing a tentative recovery seen earlier this year. According to accountancy firm Price Bailey, 219 pubs entered insolvency in Q2, followed by 189 in Q3. Q1 saw 161 establishments not able to pay their debts.
84 pubs become insolvent in June, the highest monthly total in over a decade. The rise in insolvencies follows April’s increase in employer National Insurance Contributions (NICs) and the National Living Wage.
Further analysis showed that 4,742 of UK pubs are both technically insolvent (negative net assets) and rated ‘maximum risk’ on the Delphi credit score – this figure represents approximately 1-in-8 British pubs.
, agri-tech farm Growy Singapore is winding up and is in liquidation, The Straits Times has learnt.
This is the latest casualty in a series of farm closures and delays that have been plaguing the local farming sector since 2023 or so.
The Dutch firm – which produces baby leaves, salad mixes and microgreens – officially opened its 8,000 sq m indoor vertical farm in Changi in mid-November 2024.
According to a notice published in the Government Gazette on Nov 4, Growy is in provisional liquidation and the firm’s director Ramasamy Chockalingam wrote: “The company cannot by reason of its liabilities continue its business.”
