Keybridge Capital (ASX:KBC) entered voluntary administration, with the board appointing Gideon Rathner from Lowe Lippmann Chartered Accountants as voluntary administrator, according to a Monday Australian bourse filing.
All listed securities of the firm will remain suspended while it is in administration, the filing said.
The firm had been planning to raise capital since October 2024, to meet extraordinary unbudgeted legal costs associated with court hearings in relation to proceedings bought by WAM Active (ASX:WAA) as well as for debt reduction and working capital
Court applications bought by WAM Active in December 2024 and January resulted in the firm being prevented from raising capital.
Yowie Group demanded on Feb. 6 the repayment of interest outstanding, under a May 23, 2024 loan facility of AU$80,035.12, as well as the loan principal of AU$4.5 million.
The firm said it was unable to reach a formal agreement regarding an extension or restructuring of the loan given the restrictions around its future capital-raising capability.
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