{"id":777002303,"date":"2023-02-10T13:37:35","date_gmt":"2023-02-10T16:37:35","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777002303"},"modified":"2026-04-23T00:45:37","modified_gmt":"2026-04-23T03:45:37","slug":"macau-the-13-hotel-declared-bankrupt","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-the-13-hotel-declared-bankrupt","title":{"rendered":"Macau: The 13 Hotel declared bankrupt"},"content":{"rendered":"\n

The 13 Hotel has been given 60 days to pay off its debts under Macau’s Civil Procedure Code.<\/p>\n\n\n\n\n\n\n\n

Macau.- The Court of First Instance in Macau has declared the company responsible for The 13<\/strong> Hotel<\/strong> bankrupt. The company has been given 60 days to pay off its debts in accordance with Macau’s Civil Procedure Code.<\/p>\n\n\n\n

South Shore Holdings Limited<\/strong>, the parent company of The 13, had its listing on the Hong Kong Stock Exchange cancelled on February 9 after failing to resume trading for 18 months. In light of increasing pressure from lenders, it applied to the Macau court for voluntary liquidation of its subsidiary<\/strong>, New Concordia Hotel Limited, the sole owner of The 13 Hotel.<\/p>\n\n\n\n

The 13 Hotel halted operations in February 2020 amid the Covid-19 pandemic. South Shore Holdings<\/a> <\/b>wants a sale as soon as possible to improve the group\u2019s liquidity and financial position.<\/p>\n\n\n\n

According to Macau’s Hotel Industry Establishment Business Law, a hotel can only suspend operations for a maximum of three years. With The 13’s operational term set to expire this month, it will lose its hotel licence.<\/p>\n\n\n\n

A month ago, Peter Coker Jr.<\/strong>, a former executive director and chairman of South Shore Holdings, was arrested in a hotel room<\/a> in a joint operation between Thai police and the FBI after US authorities issued an arrest warrant. He is accused of hiring stock traders to manipulate the company\u2019s stock price<\/strong>. He could face up to 20 years in prison.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 13 Hotel has been given 60 days to pay off its debts under Macau’s Civil Procedure Code.<\/p>\n","protected":false},"author":176,"featured_media":11996,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Macau Court of First Instance has declared the company operating The 13 Hotel bankrupt, mandating debt repayment within 60 days. This follows the delisting of parent company South Shore Holdings Limited from the Hong Kong Stock Exchange and its application for voluntary liquidation of the hotel's owner, New Concordia Hotel Limited. The hotel faces imminent loss of its operating license due to prolonged closure, compounded by the recent arrest of former chairman Peter Coker Jr. on stock manipulation charges.","focusai_entities":"The 13 Hotel, New Concordia Hotel Limited, South Shore Holdings Limited, Macau Court of First Instance, Hong Kong Stock Exchange, Peter Coker Jr., Thai police, FBI, US authorities","focusai_location":"Macau, Hong Kong, Thailand, US","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.8), operator_casino (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on Macau's IRs","query":"What are the broader implications of The 13 Hotel's bankruptcy and license loss for the integrated resort landscape and investor confidence in Macau's hospitality and gaming-adjacent sectors?"},{"label":"Corporate Governance Failures","query":"How do the alleged stock manipulation by Peter Coker Jr. and South Shore Holdings' financial collapse highlight critical gaps in corporate governance and oversight within publicly listed entities operating in the Asian market?"}],"footnotes":""},"categories":[157,16338],"tags":[1720],"class_list":["post-777002303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-the-13-hotel"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777002303"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002303\/revisions"}],"predecessor-version":[{"id":777002325,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002303\/revisions\/777002325"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11996"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777002303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777002303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777002303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}