World News
Maritime Law Firm Ince Group Calls in Administrators
Maritime law firm Ince Group has been placed into administration following the withdrawal of support from a major creditor.
The firm's audit process for the year to March 31, 2022 has not been completed, and the company's shares have been suspended since January 3 of this year, it said in a statement on its website on Wednesday.
"The company has been holding discussions with its major lender and other creditors, including HMRC, to establish their level of support," it said in the statement.
"The company has now been informed by a major creditor that it will no longer continue to support the business and, as a result, in order to preserve the future value of the group's business and to protect the interests of employees and other stakeholders, the board of the company has regrettably concluded that it has no choice but to place the company into administration."
The firm was founded in Cardiff in 1866.
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| VLSFO | MGO | |||
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| $/mt | +/- | $/mt | +/- | |
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