Moore Stephens said there was material uncertainty related to going concern for the trust which made a net loss of $30.99m last year. It noted that FSL Trust’s current liabilities as of 31 December 2016 of $179.37m exceeded current assets of $170.96m.
“These conditions indicate the existence of a material uncertainty which may cast significant doubt of the ability of the group and the trust to continues as going concerns and therefore that they may be unable to realise their assets and discharge their liabilities in the normal course of business,” Moore Stephens said.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.