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The suspension was imposed yesterday morning. In a statement, the fund said it had been unable to report its results as directors were ‘reviewing the position of the company as to its ability to continue as a going concern’ and hoped to resolve this by the 30 April.
Paul Davidson, the entrepreneur who runs the fund, has promised that the business will continue trading, according to reports.
Another director, Mark Warburton, said the company was in discussions with its auditors in order to prepare the accounts for publication.
An announcement about a possible indicative bid for the business is expected to be made in the next few weeks.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements