01:35PM, Thursday 28 November 2019
Conservative parliamentary candidate Adam Afriyie has cited ‘complex business reasons’ for a HM Revenue & Customs (HMRC) bankruptcy petition he is set to face in the new year.
The HMRC petition is due to be heard in the High Court on January 15.
In a statement, Mr Afriyie, who has been Windsor’s MP for 14 years, said 'it’s been hell' for his business Axonn Media Ltd, which went into administration earlier this year.
He said: “Frankly it’s been hell for Axonn over the last few years and I’m pleased that it’s finally been acquired and the remaining jobs secured.”
A spokeswoman for Mr Afriyie added: “Mr Afriyie stepped back from running his businesses 14 years ago. The several remaining interests are run by their CEOs and management, but he sometimes has to take action if a business gets into difficulty.
“It’s public knowledge that Axonn had been struggling and seeking a buyer for some time.
“The petition arises for complex business reasons related to several residual business interests.
“His legal representatives are aware of the petition and are in ongoing discussions with HMRC regarding business related taxes that might be due.
“The petition is subject to legal challenge and it is likely to be dismissed as part of the ongoing negotiations when an agreement is reached.”
The Electoral Commission would not comment on an individual but issued its guidelines which state bankruptcy itself is not a disqualification.
However, candidates will be disqualified if they are subject to bankruptcy or debt relief restrictions orders made by a court in England, Wales or Northern Ireland.
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