Garry Lee
Senior Member
Chemical firm fined £50,000
Owner claiming they can't afford to pay the fine and may lead to loss of 45 jobs, last accounts for company would suggest an increase in retained profit of circa £290k for year to June 2012. This profit should be after making provision for the potential fine, as the incident occurred in June 2012, but not enough detail in the accounts filed at Companies House to see whether or not this is the case.
Wonder if they'll end up in administration/liquidation, the fine would represent an unsecured creditor, so payment would depend on value obtained for the assets of the company by the administrator/liquidator.
Owner claiming they can't afford to pay the fine and may lead to loss of 45 jobs, last accounts for company would suggest an increase in retained profit of circa £290k for year to June 2012. This profit should be after making provision for the potential fine, as the incident occurred in June 2012, but not enough detail in the accounts filed at Companies House to see whether or not this is the case.
Wonder if they'll end up in administration/liquidation, the fine would represent an unsecured creditor, so payment would depend on value obtained for the assets of the company by the administrator/liquidator.
