The Nawaz Sharif family’s spokesperson has issued a detailed response following a British court's declaration of Hassan Nawaz's company as bankrupt.
The family claims the bankruptcy is part of a series of targeted actions against their businesses.
The spokesperson highlighted that the process of bankruptcy against the Sharif family dates back to 1972 when former prime minister Zulfikar Ali Bhutto nationalized private industries. “The Sharif family was among those affected when industries were nationalized for the first time during Bhutto's era,” the spokesperson stated.
Further, the family accused subsequent regimes, including that of former president Gen (retd) Pervez Musharraf, of intensifying these challenges. “Private houses were occupied, factories were sealed, and the family endured severe oppression,” the spokesperson added.
The Sharif family also alleged that the cruelty and injustices towards their businesses continued during the tenure of former chief justice of Pakistan Saqib Nisar when the family's industrial ventures were destroyed. “The Sharif family's businesses were bankrupted four times just to teach them a lesson,” the statement claimed.
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It added that such ups and downs, one after the other, are not new for the Sharif family.
The spokesperson said that for the sake of the country, people and principles, the Sharif family endured losses from years of hard-earned private businesses as well as personal suffering.
The statement also defended Hassan Nawaz’s bankruptcy in the UK. “During bankruptcy, companies are not required to pay taxes, a stance of Hassan Nawaz that the British court has now validated,” the spokesperson explained.
On Sunday, PML-N President Nawaz Sharif's son Hassan was officially declared bankrupt by the London High Court. The ruling came in the wake of a tax case filed against him by the UK’s tax and revenue department.
The bankruptcy declaration pertained to a specific case, which was filed in 2023. The legal proceedings were initiated on August 25, 2023, and culminated in the court's decision.
Under UK law, a bankruptcy order is a key component of the personal insolvency process. It is issued by the court, declaring an individual bankrupt. These bankruptcy orders are only published in the London Gazette once they are received from The Insolvency Service.
