“The corporate has lodged an insurance declare to the losses incurred on account of enterprise interruption, which the liquidators are reviewing and pursuing with the insurance plan underwriter,” the report filed on Friday stated.
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The organization experienced exhausted all obtainable funding and was owed personnel, Inland Profits, creditors as well as other payables which it could not meet up with.
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The shareholders provided funding but that was exhausted and there was no practical prospect to continue buying and selling, “looking at the adverse publicity and reputational harm to the company”.
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