One of three companies taken to court by the government over unpaid ground rent for the Casino di Venezia site in Vittoriosa has been declared bankrupt by a court and is to be liquidated.
The company, Vittoriosa Gaming Ltd (VGL) also owns all the shares in another of the companies that are being sued. According to a court judgement handed down earlier this week, VGL had run into considerable financial difficulties and was unable to even pay its utility bills.
It was taken to court by one of its shareholders, Casino Municipale di Venezia (CMV), which owns 40 per cent of VGLs shares. A company called Bet Live Ltd owns the remaining 60 pe…
Read the full article at: http://www.independent.com.mt/articles/2017-03-04/local-news/Company-being-sued-by-government-over-Casino-di-Venezia-site-declared-insolvent-6736171219