LONDON (Alliance News) - Paragon Entertainment Ltd said late Friday that the winding up petition for its principal trading subsidiary was issued in error.
Shares in Paragon Entertainment closed flat at 1.0 pence each on Friday.
The company - which creates, develops and operates visitor attraction sites - said it that Her Majesty's Revenue & Customs has confirmed that all payments due were made and therefore the winding up petition in respect of Paragon Creative Ltd was a mistake.
The company said it is in the process of applying for the petition to be dismissed.
Paragon became aware of the winding up petition on Friday. The company said it saw the petition advertised in the London Gazette, the official public journal of the UK government.
The petition was filed for Paragon Creative Ltd at the Companies Court at the High Court of Justice in London on May 1 .
The petition was filed in relation to a GBP215,000 owed by Paragon Creative to the UK tax authorities. However, Paragon Entertainment said this sum has been "discharged in full".
In a statement, Paragon Entertainment said: "The company and its advisers are in communication with HMRC with the objective of obtaining a validation order to acknowledge that the sums due to HMRC have already been discharged in full and therefore the petition should be dismissed."