Local liquidator reveals cause of Hadsphaltic demise

| 24/11/2010

(CNS): Chris Johnson, who was appointed one of the joint liquidators, will be examining the roll that the directors of Oxford Ventures Ltd, once owned by the UK Conservative peer and billionaire Lord Ashcroft, played in the demise of local construction firm Hadsphaltic. The company which went into liquidation in July of this year had been a successful contractor in the Cayman Islands for more than four decades. However,Johnson believes that it could have collapsed because other firms in the Oxford group owed the company millions of dollars which they could never have paid, in particular Johnston International Limited in the Turks and Caicos Islands.

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