A company associated with the promoters of the Isle of Man Bay Festival has been ordered to wind-up after failing to settle its debts.
The High Court ordered Street Heritage Limited, which developed the apartments at Mariner's Wharf in Peel, to be struck from the register.
The judgement was the result of a petition to the court by the Assessor of Income Tax, Malcolm Couch, over debts to the Isle of Man Government totalling over ?180,000.
But director of Street Heritage, Jamie Irving, says an appeal will be lodged.
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