Cains faces wind-up threat over Customs dispute

Jul 26 2008 by Alistair Houghton, Liverpool Daily Post

Cains

LIVERPOOL brewer Cains is facing the threat of a winding-up order over a dispute with HM Revenue and Customs.

Customs officials have filed a petition at the High Court to have the company wound up over an unpaid debt.

However the Daily Post understands that negotiations between the company and HMRC are at an advanced stage and that a conditional agreement has been reached for the debt to be settled, meaning the legal action will be halted. The company is unable to comment on the situation due to the rules of the Alternative Investment Market, on which it is listed, as it is set to issue half-year results on Monday.

The dispute with HMRC does not impact on the company’s financial position and it continues to trade normally.

The issue is believed to relate to a late payment following a dispute over a Customs bill.

The winding-up petition was published in the London Gazette, the official newspaper for regulatory information about companies.

The court case was set to be heard on August 12.

A spokesman for Cains said: “The company will be making a formal announcement in due course and are unable to comment until that formal announcement has been made.”

A HMRC spokesman said it would not comment on an individual case.