By David Newble
Friday, February 25, 2011
THE BEMBRIDGE Harbour Improvements Company has this week won eight weeks’ breathing space from moves by the taxman to have it wound up in London’s High Court, it has been revealed.
The winding-up petition brought by Her Majesty’s Revenue and Customs was adjourned for 56 days to give the company a chance to consider a company voluntary arrangement as a solution to its debt problems.
Had the company been compulsorily wound-up over the undisclosed tax debt, it would have effectively handed over the firm’s affairs to the official receiver.
His job would then be to do his best to ensure the debts were paid off by selling any assets available and then bringing business to a close.
Bembridge harbourmaster Chris Turvey declined to comment.
Reporter: davidn@iwcpmail.co.uk
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