Antigua-Barbuda regulator appoints receiver-manager for Betonsports subsidiary
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| Published on Friday, October 19, 2007 |
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ST JOHN'S, Antigua: The Antigua and Barbuda Financial Services Regulatory Commission has announced that Nigel Hamilton-Smith and Peter Wastell have been appointed to act as Receiver-Managers of BoS (Antigua) Limited, the Antigua-based operating company of the BETonSPORTS group of companies under the International Business Corporations Act, with effect from 20 September 2007.
Hamilton and Wastell are two partners of Vantis Business Recovery Services, a Vantis Plc group company. The joint receivers were also appointed to act as liquidators of BETonSPORTS PLC, the parent company in the United Kingdom, on 16 May 2007, and liquidators of three other subsidiary companies in the group on 15 August 2007.
BoS (Antigua) Limited ceased trading as a result of an Indictment and Permanent Injunction issued by the Department of Justice in the United States of America against the company and certain other companies in the group in July 2006. However, in the case of BoS (Antigua) Limited, since November 2006 the company has been under the complete control of the FSRC, pursuant to an order of the Antiguan High Court, which remains in effect.
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