"Brewbot boss vows to persevere after entering an agreement with creditors"

Anyone have a comment regarding this recent article, the Town Hall, or CVA?

I have reached out to the CEO of Beach Hut PR (a creditor) to see if he would be willing to comment here.

Brewbot Town Hall Update?

Shout out to anyone who attended the Brewbot Town Hall scheduled for yesterday.  Care to share any information? Will keep your comments autonomous if you wish. You can post in the comments or email me directly.
Thank you!

Brewbot Insolvency (CVA) - Chairman's Report

Received copies from several creditors and am posting publicly these Court minutes. Will comment in a future blog posting.  Some of the conversion from PDF to Word was less than perfect.
=======================================================

Form 1.1

Rule 1.24

The Insolvency (Northern Ireland) Order 1989 Report of Meetings Approving Voluntary Arrangement Pursuant to Article 17 of the Insolven        orthern Ireland Order 1989		A.17

                                                  To the Registrar of Companies                 For official use

Com any Number

NI 615974

Name of Company

(a)   Insert full name of company         (a) Brewbot

Limited

(b)   Insert full name and          James B Kennedy

address

(c)   Insert date

Presenter^s s name, ddress and reference (if any):

of

22 Lower Windsor Avenue, Belfast BT9 7DW

the Chairman of meeüngs held in pursuance of Article 17 of the Insolvency (Northern freland) Order 1989 on (c ) enclose a copy of my report of the said meefings.

For Public Office

Official Use Liquidation Section

BREWBOT LINIITED -NI 615974

COMPANY VOLUNTARY ARRANGEMENT'S

Chairman's Report on the meeting of Creditors of Brewbot Limited.

held in accordance with Article 15(2) of the Insolvency (Northern Ireland) Order 1989.

Ih aecordance with the provisions of a proposal circulated to the creditors on 25^å September 2017 and lodged with the High Coun a meeting of Creditors of Brewbot Ltd was held on

10^d7 October 2017 at 3:00pm at the office of Ja.mes B Kennedy & Co 22 Lower

•Windsor Avenue, Belfast, BT9 7DW

The Chairman of the meeting Mr Jarnes B Kennedy, licensed Insolvency Practitioner, outlined the facts of the case and the legal background within which the meeting had been convened.

A list of those present and entitled to vote or represented by Proxy and a schedule indicating the amount of debt allowed and how they voted is as follows.

Present or Represented	Total	For	Against
Alister Sisk	1,383.00	1,383.00
Beach Hut PR	19,800.00	19,800.00
Benedict Smith	2,208.00	2,208.00
Dylan Fuller	1,500.00	1,500.00
George S Ferzli	3,645.29	3,645.29
Harland Wines	4,503.87		4,503.87
Joel Boehme	2,577.93	2,577.93
Jon Regler	2,208.00	2,208.00
Ken-y Leane	1,500.00	1,500.00
Kieran Graham	3,070.65		3,070.65
Lenalea Electronics	1,724.40
Mark Jefferson	494.70	494.70
North Down Leisure	43,415.85	43,415.85
03 Group	574.08	574.08
Philip J Hartog	2,821.63	2,821.63
Prohibition	3,200.00		3,200.00
Seimon Williams	1,600.00	1,600.00
Stephen McNamara	1,500.00	1,500.00
Techstart NI Siv1E	198,026.00	198,026.00
Total	295,753.40	284,369.33	12,498.92

The Chairman accordingly declared that the proposal had been agreed by the requisite majority of the creditors and that, subject to the outcome of the forthcoming meeting of members, James B Kennedy of James B Kennedy & C . was appointed Supervisor of the Arrangement.

James Kenned FCA c

                                   Dated:           ctober 2017

BREWBOT LTD - NI 615974

COIMPANY VOLUNTARY ARRANGEIVÆNT

Minutes of a Meeting of Creditors of Brewbot Ltd held at 22, Lower Windsor Avenue Belfast BT9 7DW on Tuesday 10^th October 2017 at 3.00pm.

PRESENT:

Harland Wines Ltd

                              Prohibition Ltd

Techstart NI SNG Equity Limited Partnership

IN ATTENDANCE

James B Kennedy

Chris McClelland

The proposal as put forward by the director was considered and accepted by the requisite majority of the creditors present and represented or entitled to vote.

The matter will now be referred to the members for their consideration.

-Mr Chris McClelland

Date: 10^th October 2017

Brewbot Townhall Scheduled

Just heard from one of our many blog, reddit, kickstarter readers. They received an email invite to a Brewbot Townhall.

Updated invitation: Brewbot Town Hall @ Thu Oct 19, 2017 5pm - 6pm (BST)

This was sent to an email list of about 23 people. What about the 100's of other backers?

Hopefully one or more of you readers were on the invite and will be attending. Please share any details regarding Brewbot and their future.



For those of us not on the list, Brewbot the bar will soon be Northern Lights as Galway Bay Brewery takes over soon.

Creditors Information

I have received copies of both the Proposal to Creditors and the Chairman's' Report regarding the Creditor meeting.

I will try to upload/paste these two documents soon and will also try to summarize some of the content.

A quick read however, does appear to show that Chris commingled funds from Brewbot the device with Brewbot the bar. While maybe not an illegal act, certainly not within the spirit of a Kickstarter campaign nor Invest NI's R&D investment.

While the business tries to sell assets, Chris remains the sole Director and is requesting a preferential claim of 8,000 GBP for unpaid wages.

How did this happen?

Surprising news from the Courts yesterday when Brewbot somehow convinced them that Brewbot is still a viable/salvageable company and negotiated a Company Voluntary Arrangement (CVA) versus the forced wind up order from the taxman.

For those of us in the USA, this would be similar to a Chapter 11 bankruptcy where the creditors agree to a restructuring and repayment plan to avoid liquidation of the business.

I will try to dig out further details, but cannot fathom what assets Brewbot still has that would give creditors any assurances that they will receive further returns.


The news article from Belfast Telegraph is here.

Cross posted to reddit also

Oct. 12, 2017 - The final day for BrewBot?

Not surprising news since we recently reported BrewBot was being forced to wind up by the taxman.

On Thursday, a Belfast court will be hearing the case against BrewBot and will likely grant the wind up order at that time.

As reported by Belfast Telegraph: http://www.belfasttelegraph.co.uk/business/food-drink-hospitality/galway-brewery-taking-over-belfast-brewbot-bar-on-ormeau-road-36212433.html

"It is now unlikely that those who invested around £2,000 on the crowd-funding platform to get their own Brewbot will ever receive a machine."

Unlikely would seem to be an understatement!

I will try to follow the court case and post any relevant information (personally, I would love to see the accounting of BrewBot's operations to see where the money actually went to determine if this failure was due to Chris's incompetence, malfeasance, ignorance, criminal intent, or some other cause).

ASK: If you still have access to the BrewBot Kickstarter page, please paste a link to this blog/page over there so the other backers know now that the end is here.


And finally for today's posting:

If you wish to try to contact Chris directly, his FaceBook page looks like it is https://www.facebook.com/christophermcclelland

and his LinkedIn account is https://www.linkedin.com/in/cmcclelland/