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27/03/2009
Agreement Halts Rankin Bankruptcy Case
Bankruptcy proceedings against celebrity chef Paul Rankin have been dramatically dismissed.
Yesterday at the High Court a petition brought against the Michelin-star winning restaurateur and his business partner wife Jeanne was dropped after agreement was reached with creditors.
Papers had been served on the couple, who run the flagship Cayenne in Belfast city centre, over a debt owed to supplier Arnotts Fruit Ltd.
Following a private hearing it was however confirmed that the action has been dismissed, after the couple entered into an Individual Voluntary Arrangement (IVA) with their creditors.
Under the terms of the IVA, agreed last month, those owed money will receive a return of 70 pence in the pound.
The arrangement - which is used to stop companies going out of business and allow all sides to reach a deal - is being funded through Mr Rankin's personal earnings.
Had an earlier attempt to recover cash owed been successful, Cayenne would have been forced to close, with staff being laid off and suppliers facing little prospect of getting their cash.
Arnotts Fruit Ltd, with whom the Rankins have ceased trading, is believed to be the only supplier to have petitioned the couple for bankruptcy.
According to sources it was owed £9,700 and the IVA means it will receive just under £6,800.
The chef, who once owned a string of restaurants and cafes, has been credited with rejuvenating the culinary scene in Northern Ireland.
He has written several cookery books and is numbered among a group of high-profile chefs recognisable from regular television appearances.
But the business empire, which employed hundreds of people, has been hit by financial difficulties in recent times.
Mr Rankin has since sold off his Roscoff Brasserie and Rankin cafe chain in order to save jobs.
See: Rankins Shrug-Off Financial Woes
Yesterday at the High Court a petition brought against the Michelin-star winning restaurateur and his business partner wife Jeanne was dropped after agreement was reached with creditors.
Papers had been served on the couple, who run the flagship Cayenne in Belfast city centre, over a debt owed to supplier Arnotts Fruit Ltd.
Following a private hearing it was however confirmed that the action has been dismissed, after the couple entered into an Individual Voluntary Arrangement (IVA) with their creditors.
Under the terms of the IVA, agreed last month, those owed money will receive a return of 70 pence in the pound.
The arrangement - which is used to stop companies going out of business and allow all sides to reach a deal - is being funded through Mr Rankin's personal earnings.
Had an earlier attempt to recover cash owed been successful, Cayenne would have been forced to close, with staff being laid off and suppliers facing little prospect of getting their cash.
Arnotts Fruit Ltd, with whom the Rankins have ceased trading, is believed to be the only supplier to have petitioned the couple for bankruptcy.
According to sources it was owed £9,700 and the IVA means it will receive just under £6,800.
The chef, who once owned a string of restaurants and cafes, has been credited with rejuvenating the culinary scene in Northern Ireland.
He has written several cookery books and is numbered among a group of high-profile chefs recognisable from regular television appearances.
But the business empire, which employed hundreds of people, has been hit by financial difficulties in recent times.
Mr Rankin has since sold off his Roscoff Brasserie and Rankin cafe chain in order to save jobs.
See: Rankins Shrug-Off Financial Woes
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26 March 2013
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Paul Rankin's Cayenne restaurant in Shaftesbury Square, Belfast, has closed its doors amid flag protests and a bleak economy. The famous restaurant was once among the UK's finest restaurants, but the TV chef was forced to close the doors to diners one final time on Sunday.
Paul Rankin's Cayenne Closes
Paul Rankin's Cayenne restaurant in Shaftesbury Square, Belfast, has closed its doors amid flag protests and a bleak economy. The famous restaurant was once among the UK's finest restaurants, but the TV chef was forced to close the doors to diners one final time on Sunday.
05 October 2011
Guilty Granny Killer 'Pleads Innocence'
A pharmacist-turned drunken killer had continued to deny the brutal murder of an elderly grandmother in her own home on Christmas Day 2008. As she was led away to the cells yesterday afternoon, Karen Walsh, 45, continued to plead her innocence on the murder of neighbour Maire Rankin, 81, in her Newry home. Mrs Rankin was found dead in her bedroom.
Guilty Granny Killer 'Pleads Innocence'
A pharmacist-turned drunken killer had continued to deny the brutal murder of an elderly grandmother in her own home on Christmas Day 2008. As she was led away to the cells yesterday afternoon, Karen Walsh, 45, continued to plead her innocence on the murder of neighbour Maire Rankin, 81, in her Newry home. Mrs Rankin was found dead in her bedroom.
06 February 2009
Rankins Shrug-Off Financial Woes
The celebrity chef widely credited with getting Northern Ireland firmly onto the culinary landscape, chef Paul Rankin, has been served with bankruptcy papers. Michelin starred Mr Rankin and his Canadian wife Jeanne, also a chef, were served with the papers which detail a personal bankruptcy hearing on February 25.
Rankins Shrug-Off Financial Woes
The celebrity chef widely credited with getting Northern Ireland firmly onto the culinary landscape, chef Paul Rankin, has been served with bankruptcy papers. Michelin starred Mr Rankin and his Canadian wife Jeanne, also a chef, were served with the papers which detail a personal bankruptcy hearing on February 25.
25 October 2011
Ian Rankin In Belfast For Words and Music
No Alibis Bookstore and alternative music specialists Strange Victory are presenting an impressive evening of spoken word and music with The Willard Grant Conspiracy and author Ian Rankin this November.
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No Alibis Bookstore and alternative music specialists Strange Victory are presenting an impressive evening of spoken word and music with The Willard Grant Conspiracy and author Ian Rankin this November.
05 October 2023
Missing Tyrone Woman Found Safe And Well
Missing Tyrone woman Lyndsey Rankin has been found safe and well. A major search operation launched in west Tyrone after the 28-year-old went missing from the Killen area. She was last seen at around 9.45pm on Monday, 02 October.
Missing Tyrone Woman Found Safe And Well
Missing Tyrone woman Lyndsey Rankin has been found safe and well. A major search operation launched in west Tyrone after the 28-year-old went missing from the Killen area. She was last seen at around 9.45pm on Monday, 02 October.
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
