Virtical Group’s Republic Hotel in the Sydney CBD has gone into administration just days after the embattled property developer exchanged contracts for the pub for $32 million.
The group’s main non-bank financier, Bond Finance, appointed BRI Ferrier principals Peter Krejci and Andrew Cummins as administrators for the pub on Friday and froze Republic Hotel Sydney’s bank accounts, according to ASIC documents and anonymous sources.
Max Mason covers insolvency, courts, regulation, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max's journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
