LONDON (Newsman): Hasan Nawaz Sharif, the younger son of former three-time prime minister of Pakistan Nawaz Sharif, has been announced bankrupt by the London High Court, say the court papers.
In a tax and liability case of the UK government’s tax and revenue department, Hasan Nawaz has been announced bankrupt.
The official UK Gazette, which maintains the public record, has announced by publishing the details of the bankruptcy case.
It reads that Hasan, a resident of Flat 17 Avenfield House, 118 Park Lane, and the company director has been announced bankrupt in the High Court Of Justice in case No 694 of 2023; registered on 25 August 2023.
After a case brought by the creditors over non-payment, the bankruptcy order was given on April 29, 2024.
Hasan Nawaz, who was represented by Kaur Maxwell, had to face it where the civil case was started by Her Majesty’s Revenue and Customs (HMRC) department against Hassan Nawaz.
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A bankruptcy order is considered as part of the personal insolvency process, according to the UK laws.
It can be issued to an individual from the competent court, announcing them bankrupt.
When received from The Insolvency Service, bankruptcy orders are normally publicized in the London Gazette.
Furthermore, a bankrupt individual cannot act as a director or be involved in anyway in the upper management of any company until he is discharged from bankruptcy case for which he has to obtain permission from the court to continue working as a director.
Then he can continue to stay as a director of any number of companies in the UK.
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Hasan Nawaz runs the business of his father and family.
His business pay was the reason, which led to ouster of his father as third time prime Minister of Pakistan.
Hasan Nawaz was not reachable to comment on this issue. A source closer to him opined that his legal team is looking at the matter and would be responding soon.