Rektron Group Faces Subsidiary Liquidation and Director Resignation

Rektron Group Inc. has announced the High Court of Justice's decision to wind up 61 Merchant Group Limited and 37 AQ Merchants Limited. The petition, initiated in June 2025 by Artis Loanco 1 PLC administrators, followed a trade dispute and a contested demand for over $46 million. Despite efforts to negotiate, the court ruled in favor of Artis.

In addition to the court's judgment, Satyam Bhasin resigned from the Board of Directors. Rektron expressed gratitude for his contributions. The company plans to evaluate its board composition for a replacement.

As Rektron navigates these legal and leadership challenges, it is focusing on a remediation plan to address the insolvency proceedings, pending court approval. Further details on the proceedings will be disclosed in due course.