TIME COULD RUN OUT TODAY for a local company that owes at least four Government departments more than $9.77 million.
Bridgetown business, Bajan Cleaning Enterprises Limited, sought protection from a long list of people it owed almost $10 million including Government, by filing an insolvency proposal under Section 16 of the Bankruptcy and Insolvency Act last November.
The company, whose directors according to Corporate Affairs Department documents include Hallam Ian Payne, and Shirley Angela Payne along with secretary Delisle Weekes, filed the insolvency plan that would keep creditors at bay and prevent them from moving to sell the company’s assets.
The creditors include the National Insurance Department which is owed $5.66 million, the Comptroller of Customs – $3.47 million mostly in VAT tax receipts and the Inland Revenue Department some $636 934 in PAYE contributions as of 2010.But the creditors who include 32 entities such as Simpson Motors, Signia Financial, Globe Finance, the Sanitation Service Authority, Consolidated Finance, and Brian Griffith & Co will meet today to decide whether to accept or reject Bajan Cleaning Enterprises’ proposal.
