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Old 26th Sep 2019, 19:20
  #135 (permalink)  
ExpectmorePayless
 
Join Date: Jun 2007
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I'm very surprised the administrator's of TCG cannot take legal action to recoup the unpaid debt from those subsidiaries which are still trading.
They are duty bound to obtain as much as possible for creditors. While Limited company status can attempt to ring fence exposure to claims, TCG was the parent company. Something very underhand if siphoning off money from one company into another is allowed only for 3 companies to continue trading while the debt is left with the collapsed company.

There would appear to be sufficient evidence of malpractice by the current and previous director's to warrant criminal proceedings.
And even investigation of the auditor since there must come a point at which the level of debt becomes unsustainable and a risk to the travelling consumer.
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