Former The 13 Hotel backer gets one more liquidator

May 05, 2022 Newsdesk Latest News, Macau  

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South Shore Holdings Ltd, a company once associated with The 13 Hotel project (pictured) in Macau – that for a while was also linked to a possible casino on that site – has had a third joint liquidator appointed by a court in Bermuda, South Shore said in a Wednesday filing in Hong Kong.

On June 25, 2021 the company had received a winding up petition filed by a creditor, and lodged with the Supreme Court of Bermuda, for a debt and accrued interest amounting to HKD7.0 million (US$892,000), relating to a term loan facility agreement.

On July 23, 2021, the Supreme Court of Bermuda ordered South Shore be wound up. At the time, the court also appointed two joint provisional liquidators of the company.

On May 18 that year, legal representatives of an entity called Wise Park had informed the representatives of The 13 Hotel (BVI) Ltd – an entity linked to The 13 Hotel scheme – and South Shore, that Wise Park had exercised its rights under a share charge condition.

Trading in the shares of the South Shore on the Hong Kong Stock Exchange has been suspended since July 2021. They remain suspended.

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