UK Supreme Court has just ruled that Company Law Compliance failures cost someone €36,000,000 because they said they paid cash for shares when they didn't. Sound familiar?
The first Defendant got done for €84,000,000 in 2022
Court of Appeal: [2022] EWCA Civ 1040
There is also a still missing €30,000,000 - reminds me of the same sort of number by the Directors of Quantexa in their false accounts. (ps. the missing Sarah Diamond has now amended her LinkedIn posts in a vain attempt to try and deny she was ever a Director - what a liar that woman is. She has already announced her resignation as a Director of another Listed company)
And all because they didn't take care over Companies House forms. Will the Solicitors and Accountants who advised them have to pay up as well?
I wonder just how expensive the VCT Compliance Failures are going to prove to be personally for each of the Directors (oh yes not the Investment Managers because they say they are not a director of any of them) of nearly all the Listed VCTs who also lied about Cash payments for shares?
A bit of forward planning. The Ides of March is when?
When is the "Worm Moon" after which it is named?
Perhaps the Worm will turn the very next day.
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