The British firm filed for Chapter 7 bankruptcy protection late Thursday. It said in a New York court filing that its assets totaled $100,001 to $500,000. Its liabilities are between $1 million and $10 million and it has between one and 49 creditors.
Stiffing the creditors - never do business with billionaires…
Lie down with Trump…
Maybe we should tap the Mercers for more dough…nope…we’re gone…so long suckers…mission accomplished!
They ALWAYS have the resources for legal rope a dope…
One of Denmarks richest men died yesterday aged 90. In addition to the company, which bore his name and made his fortune, he had a long run starting small companies and abandoning them, usually by transferring IPRs to another legal entitiy and stiffing the creditors, when convenient. His close association with the Danish Royal Court offered him an unreasonable amount of protection.
Sounds like a graduate of the Don school of reprehensible business…
Chapter 7 means liquidation in which all the assets are up for sale. Gotta wonder who’s going to bid on some of their file servers and hard drives.