The owner of Eastbourne and Hastings piers is facing fraud charges with the future of the piers remaining uncertain. Sheikh Abid Gulzar appeared at Hove Crown Court to answer the charges. The 79-year-old and another man, Manasdeep Singh, are charged with 10 counts of fraud.
Mr Gulzar owns Eastbourne and Hastings piers. He bought Hastings Pier in 2018 and Eastbourne Pier in 2015. A notice has been posted to The Gazette on May 16 which states that a firm directed by Gulzar, Lions Pier Limited, is being wound up - meaning it has officially closed down.
It comes after liquidators were appointed at Lions Hastings Pier Limited on August 3, 2023. Mr Gulzar was also listed as the director of this company.
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Lions Pier Limited, which is registered to 7-9 The Avenue, Eastbourne, East Sussex, BN21 3YA, has a date of winding-up order of May 12.
The date of the filing petition is listed as March 25. Its official receiver is listed as K Jackson PO BOX 16660, Birmingham, B2 2HE.
Mr Gulzar will go to a trial, which is expected to last three to four weeks. It is set to start in November. Mr Gulzar and Mr Singh both deny the charges.
An owner of a company can choose to liquidate their limited company. There's a different process if a person wants to liquidate their limited company in Scotland or wind up their company in Northern Ireland.
The company will stop doing business and employing people. It will not exist once it's been removed from the companies register at Companies House.
When a person liquidates a company, its assets are used to pay off its debts. Any money left goes to shareholders.
A person will need a validation order to access their company bank account.
If that money has not been shared between the shareholders by the time the company is removed from the register, it will go to the state.
A person will need to restore the company to claim back money after it's been removed from the register.
