Chris Johnson, the court appointed liquidator of Hadsphaltic on being interviewed said this could be good news for Hadsphaltic because Johnston owes the company a lot of money.

He could not be drawn into saying how much of the Hadshpaltic debt might be repaid. However he did say that the reference to Northtown Limited which is a corporate director owned by BCB Holdings Ltd., a company listed on the London Stock Exchange and controlled by Lord Ashcroft was particularly interesting as it was a director of Oxford Ventures Ltd which is also being liquidated by his firm.

He added that it was also a corporate director of 30 subsidiary companies of Oxford many of which traded whilst insolvent for several years and some of which are implicated in fraudulent transactions.

“Northtown Ltd is also it transpires, a director of the company that owns the mansion of Lord Ashcroft in his second home of Belize. Of more interest,” he said, “for folks living in the UK is that Lord Ashcroft through another company Belize International Services Ltd had a 35% interest in the concession for the Companies Registry.”

On being questioned about the former directors he said that the CEO, Allan Forrest and CFO, Shaun Breeze, of Hadsphaltic have fled the Turks and Caicos Islands and are believed to be residing in the Far East.

See following:

4 mil claim against Ashcroft company to be heard in Turks and Caicos

By Adele Ramos From Amandala

Amandala has confirmed from legal sources in the Turks and Caicos that the Supreme Court in that country is set to hear a $4 million claim on Monday, May 5, 2014, by Johnston International Limited (an international engineering and construction firm now in liquidation) against Coral Square Limited – a company which has been identified as a subsidiary of Waterloo Investments, a Michael Ashcroft company.

The lawsuit is over funds owing for the construction of a $15.75 million waterfront estate of the former premier of the Turks and Caicos, Michael Misick, which Johnston International (formerly an Ashcroft company) was contracted to build, with financing channeled through Coral Square by the Ashcroft group, which operates a complex network of companies, many of them offshore in countries such as Belize and the Turks and Caicos.

Our legal source said that Coral Square held the charge for the investment, and they believe that the debt is recoverable.

Of note is that two companies linked to Coral Square — Northtown and Southtown, have also held shares in Belize Telemedia Limited via Mercury Communications Limited – a vehicle which Ashcroft once used to buy out the BTL shares of hundreds of Belizeans.

The Supreme Court summons issued earlier this month by the Senior Deputy Registrar of the Turks and Caicos court says that Johnston had petitioned for judgment in the action, claiming $4,080,982, which the defendant company has allegedly admitted it owes to the plaintiff.

The summons also indicated that the party wishing to oppose the claim should respond within three days of the hearing, along with affidavits to be used.

As we reported back in July 2010, the Belize Bank was once a sister company of Johnston International, under the headship of BHI Corp. BHI became BCB Holdings, the new mother company of the Belize Bank, and it had also, interestingly, reassumed control of the assets and operations of Johnston International via the receivership. Johnston International also operated in the Cayman Islands as Hadsphaltic Limited.

For more on this story go to:

http://amandala.com.bz/news/4-mil-claim-ashcroft-company-heard-turks-caicos-court/

See also iNews Cayman story published April 21 2014 “Johnson International suing Lord Ashcroft company over Misick residence” at: http://www.ieyenews.com/wordpress/johnson-international-suing-lord-ashcroft-company-over-misick-residence/