20 Stadil companies sent to judicial winding-up

do you Have a good story? TIP Ekstra erhvervsredaktion here. last week, it was described in several media, to the Christian Stadil owned company TS Chartering

20 Stadil companies sent to judicial winding-up

do you Have a good story? TIP Ekstra erhvervsredaktion here. last week, it was described in several media, to the Christian Stadil owned company TS Chartering

Ann McDonald
Ann McDonald
06 November 2019 Wednesday 08:00
8 Reads
20 Stadil companies sent to judicial winding-up

do you Have a good story? TIP Ekstra erhvervsredaktion here.

last week, it was described in several media, to the Christian Stadil owned company TS Chartering was taken during the bankruptcy proceedings after the first to be sent to the judicial winding-up.

But it is the only one in the series of many Stadil companies, as the past few years has been taken under judicial winding-up.

It shows a review of the Hummel-rigmandens companies, which Ekstra Bladet has made.

specifically, 20 of the Stadils companies since 2016 has been taken under judicial winding-up (See what, at the bottom of the article). A access with the Danish business authority shows that, in all these cases is that the management suddenly resigned, which made the management 'illegal'.

the Subsequent are four of the companies in liquidation.

When a company is being sent to the judicial winding-up should the bankruptcy court use the resources to shut it down. Thus have Christian Stadils many tvangsopløsninger cost the state money, which the former 'Lion's den'investor could have been avoided by even to close them down.

- It is a very bad signal to send. If you have the funds for it and will want to behave properly, so one should of course clean up after themselves, and provide for the even to dissolve his companies. It should also be affordable for anyone who can establish a company, says Enterprise director at the FSR - Danish auditors, Tom Vile Jensen.

- Typically, it will on average cost 4,000 to 4,500 dollars in administrative costs for authorities per. enforced, he says.

- Why is it in general that people not even close their companies down?

- It is everything else just easier to let the public take the trouble and wiping the bill on them, he says.

In the cases with tvangsopløsninger appointed there is often a so-called liquidator to investigate the company. If there are debts, but no money in the company, he asks the bankrupt, and his fee will typically be around dkk 15,000, the amount of the state warrant.

the Article continues under the faktaboksen...

Tvangsopløsninger

A company sent to the judicial winding-up by the Danish business authority, for example, if it has not submitted the annual report in a timely manner, or no longer has any persons in the executive board. First, the company will be a warning, and if not, things are changing, fall the hammer.

Typically, there will be a tvangsopløsningssager be appointed a lawyer to investigate the matter. He is called a liquidator. But it does not always happen.

When a company sent to the judicial winding-up, there are three different ways to close it:

1. If the account is positive, then there is money to pay to the liquidator, and also to get some money out to the owner, so smoking it under winding up.

2. If there are assets, but the debt is greater, and there are things that must be realized, be it in bankruptcy. A liquidator is appointed here.

3. If there are no assets, no debts to the public and has not been any activity for a long time, so there is a possibility that the Bankruptcy court can close the company down quickly. Thus not designated any person to be liquidator.

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Of Stadils 20 tvangsopløsninger has a lawyer been involved in five of the corridors. How much the state here has had to pay is not known, since it depends on whether there is money in the estate or not to cover the lawyer's salary.

In the remaining 15 cases, cases are been closed down by the bankruptcy court without a liquidator, as there have been very few assets, no real debt and very little activity in the companies.

If you go out from that, the cost to the state by eliminating rigmandens 20 companies have been as low as possible, it has probably cost the lives of at least 80.000 crowns to clean up after the billionaire. In addition, the potential legal fees.

Christian Stadil is the owner and director of the conglomerate Thornico, which has several companies under itself, among other things, the shipping and the fashion industry. For example, Hummel, as many danes are familiar with. Photo: Ritzau Scanpix

Stadil: Should have looked at other solutions

the Extra Leaf has been in contact with Christian Stadil, who says that he does not have the opportunity to ask up for an interview, as he is for hummel's annual sales conference. He has, however, sent a comment by email.

Here he gives the first expression that he was not involved in the work of the board in most of the 20 companies. But according to the cvr-register he was sitting in the board in 11 of them map within tvangsopløsningerne.

- For the vast majority of corporations, so I have not been on the board and since we have almost 200 companies so you may unfortunately not be in all places. However, I am the ultimate owner why of course I must be me here anyway.

- The companies mentioned, which is IMPORTANT to note and emphasise, however, was all WITHOUT operation and activity, ie, companies with no production, employees etc. One has in the companies assessed that the easiest, including since the companies as independent entities had negative equity, was to shut the companies down, as described.

He acknowledged, however, that you should have looked at other solutions.

in Retrospect, I would think, with it I get to know and read now, that you better should have looked at alternative solutions including the associated costs would perhaps have been 10-15.000 Dkr to an accountant. We will focus on in the future.

Updated: 06.11.2019 08:00
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