Sharif family releases statement about Hassan’s bankruptcy

The Sharif family has released a statement addressing the High Court of Justice in London’s ruling regarding the bankruptcy of Hasan Nawaz’s company.

A spokesperson for the family claimed that the bankruptcy process for the Sharif family’s businesses began in 1972 during Zulfikar Ali Bhutto’s tenure, following the nationalization of industries.

The statement further accused former President General Pervez Musharraf of taking similar measures, including the seizure of personal homes and closure of the family’s factories.

The spokesperson also criticized former Chief Justice of Pakistan Saqib Nisar, alleging that the Sharif family’s industries were deliberately targeted and destroyed during his time. The family has reportedly endured financial losses multiple times, with their businesses declared bankrupt on four occasions.

Despite these challenges, the statement emphasized the family’s resilience and commitment to the country. It also highlighted that companies undergoing bankruptcy are exempt from paying taxes and expressed support for the British court’s ruling in favor of Hasan Nawaz’s stance in the case.

Previously, on November 17, Hasan Nawaz, son of former Prime Minister and PML-N leader Nawaz Sharif, was declared bankrupt by the High Court of Justice in London in a tax dispute with the UK’s Tax and Revenue Department. The official UK Gazette recorded the case under number 694 of 2023, with the ruling issued on April 29, 2024, and the case filed on August 25, 2023.

The civil case was brought against Hasan Nawaz by Her Majesty’s Revenue and Customs (HMRC), with Kaur Maxwell representing him legally. Sources close to Hasan Nawaz indicated that his legal team is currently reviewing the case and intends to respond to the court’s decision soon.