1. So I have company that is in the Sh1t. I sell it with a good order book and hide the fact that the VAT account is not actually an asset (someone very near to EGTK pulled this stunt in around 1998)
2. Next is that the poor gullible buggers who bought it find out is worth the square root of BA – & bring back the con artist who sold it to you and ask him to get your money back (give him carte blanche with an enormous bonus if he succeeds) – well in this case he did and he did do very nicely out of it.
3. Or you could do this – get it put into “voluntary Liquidation” and then the original owners make a private, non market related deal with the administrators (who they already recommended to the previous mugs) to buy the whole thing for a song (yes this is what happened at Bournemouth a few years back).
4. You get your company and assets and business back with all the attendant benefits back at the expense of the Staff & Clients
5. Back in business again – nothing lost (except the poor b*gg*rs who invested/paid up front) same old nice company cars and exec perks and your entire personal savings safe in your Jersey/lsle of man property/bank account.
Wow – and now I know what they mean by the term “businessman” no wonder pilots get shafted, they don't understand "aviation business"
