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BERMUDA BUSINESS: Liquidator To File for Dissolution by Jan. 11
Stephen E. Lowe, the official receiver of Bermuda Business Club Ltd. (Romanoff), will file in the Registrar of Companies for the dissolution of the company by Jan. 11, 2008.
In line with Section 199A of the Companies Act 1981, Mr. Lowe is satisfied that the realizable assets of Bermuda Business are insufficient to cover the expenses of the winding up and that the affairs of the company do not require any further investigation.
Mr. Lowe no longer performs any duties imposed upon him in relation to Bermuda Business, its creditors or contributors by virtue of any provision of The Companies Act, other than his duty to apply to the Registrar of Companies for the early dissolution of the company.
The Registrar of Companies will dissolve Bermuda Business three months after receipt of Mr. Lowe's application.
Under Section 199B of the Companies Act, any creditor or shareholder with grounds to believe that:
-- the realizable assets of the company are sufficient to cover the expenses of the winding up;
-- the affairs of this company do require further investigation; or
-- for any other reason the early dissolution of the shareholder may apply to the Minister of Finance to:
* allow the winding up of the company to proceed as if this notice had not been issued; and
* defer the date on which the dissolution of the company is to take effect.
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