Manx company has liquidation proceedings halted

Tuesday, 13 December 2016 00:00

A Manx company that's part of an alleged £74 million scam has had its liquidation halted while proceedings take place in Canada.

Banners Broker International Ltd, which is registered in Victoria Street in Douglas, is part of a worldwide network of firms under investigation by Canadian police.

Last year two men were charged in Toronto over allegations of fraud.

Liquidators here applied to Deemster Doyle to halt their operations so receivers in Canada could deal with the case.

Deemster Doyle granted the application.

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