The Sharif family releases a statement about Hasan Nawaz’s bankruptcy.

According to a statement from a Sharif family , the Sharif family’s businesses started going bankrupt in 1972, when industries were nationalised under Zulfikar Ali Bhutto’s rule.

The statement went on to say that General Pervez Musharraf, the former president of Pakistan, took a similar course by “sacking” the Sharif family’s factories and “seizing” their personal residences.

The spokesperson further said that the Sharif family’s businesses were purposefully destroyed under former Pakistani Chief Justice Saqib Nisar.

Additionally, the statement stated that the Sharif family had to repeatedly face the losses of their private companies, which resulted in a total of four bankruptcies.

The family persisted in standing up for the nation and its ideals in spite of these financial hardships. Taxes are not paid by the enterprises that are going bankrupt, and the British court has correctly supported Hasan Nawaz’s position,

Earlier on November 17, the London-based High Court of Justice ruled that Hasan Nawaz, the son of former Prime Minister and President of the Pakistan Muslim League-Nawaz (PML-N), was “bankrupt.”

The UK’s official record-keeping newspaper, the UK Gazette, reports that Hasan Nawaz was declared bankrupt in a tax lawsuit involving the country’s Tax and Revenue Department.

The ruling was made in relation to case number 694 of 2023. The case was filed on August 25, 2023, but the London High Court’s decision about Hasan Nawaz was announced on April 29, 2024.

Kaur Maxwell represented Hasan Nawaz in the civil case brought against him by Her Majesty’s Revenue and Customs (HMRC).

Hassan Nawaz’s legal team is considering the matter thoroughly and intends to submit a response to the court’s ruling shortly, according to people close to him.