The company which formerly operated as Almond Resorts Inc said a lengthy delay in the receipt of refunds from Government was hindering its plans to wind up its operation.
In the consolidated statement for the six months ending March 31, 2018, ABV Investment Inc said the board of directors had sought in the first half of the 2018 financial year to resolve the outstanding matters relating to the company to no avail.
“Efforts towards the collection of the Value Added Tax refunds and the National Insurance Severance rebates are ongoing whilst the company continued to minimize its operating cost,” Chairman Gervase Warner said.
The company said it recorded net loss of $96,650 for the half year ended March 31, 2018.
“The company intends to proceed with liquidation once all outstanding matters have been settled satisfactorily with its associate company and third party creditors,” Warner said.
It was in October 2014 that the name of Almond Resorts
Inc, a subsidiary of Neal & Massy Holdings Limited which operates resorts in Barbados, was changed to ABV Investments Inc.
In its 2017 report, which was released in January of this year for the period ending September 30, 2017, the company had said it “zealously pursued and engaged with respective government departments” for the “valid” outstanding payments but progress had been “slow”.
“These delays now stand in the way of the wind-up process for the company,” Warner had said back in the January report.
“The focus of the directors remain the liquidation of the company once all receivables which are collectable have been received and any remaining payables can be settled,” he said.