Originally Posted by
SMT Member
Indeed, but I still don't understand why an utterly incompetent management at TCUK is the fault of TCDE and TCNE, let alone why that would quality them to have acted "disgracefully".
TCUK decided to have TCDE and TCNE as separate legal entities (actually, several legal entities) incorporated in Germany, Sweden and Finland. Each of those entities have a legal obligation to look after their own house first and foremost, although it's plainly obvious they would have been acting under the orders from TCUK. But when the smelly bits are fast approaching the fan, those legally responsible for those entities have a responsibility towards those first and foremost. If TCUK had wanted it another way, they should have organised themselves differently.
Fact is, the management of TCUK was incapable of running a travel agency, in stark contrast to management of the TCDE and TCNE affiliates. That's why the house came tumbling down, and the decision by TCUK management not to repatriate funds in order to prop of those entities for a possible sale, is yet another example thereof. I'm not going to say they acted criminally, but they sure as shyte were not up to the task of running the company they were entrusted with - to the detriment of their hard working and loyal employees.
I think, but am not sure, that the original comment was not about the continental companies. I think that he was referring to the individuals who were continental who badly managed TCUK and have feathered the own nests.