The trading arm of Qatar-based structural steel contractor Panceltica has formally gone into liquidation

The company, which was previously listed on the alternative investment market, appointed Qatar accountant Al-Twafik to handle the process this week. The company ran into financial trouble following a legal wrangle relating to a $343m (£210m) 2,000-unit residential scheme built for client and main shareholder Barwa in Doha, the Qatari capital. A source close to the process said: “Nobody has a clue what will happen next.”