Protection for Investors & Creditors
This petition had 33 supporters
Businesses are losing billions of pounds and livelihoods are being lost because of the ease with which rogue directors can structure what's called pre-pack deals, with appointed insolvency companies (receivers) managing this outrageous process. Those rogue directors that have often defrauded shareholders through a likely "clandestine sale" of assets to a "third party" (a party often known to the directors) then follow up with the planned liquidation of a business leaving a trail of creditors in their wake.
These rogue directors are then free to "repurchase" those assets and begin trading again debt free.
It amounts to the theft of companies, the loss of millions to investors and creditors, failed orders for consumers and loss of their money, lost jobs, homes and savings. This is a white collar crime that is being ignored and the impact is national and devastating to businesses and families. It has to STOP!
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