guy incognit
Registered User
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Looking for advice here - (obviously will ask for professional elsewhere, but curious what posters think)
Say if a friend of mine was involved in a private company that is seriously running out of money but continuing to trade (arguably recklessly, arguably naively) in the hope of a turnaround.
The decision maker is the owner who would lose everything in the event of goign to the wall so he is pushing on in the vain hope of a turnaround.
In that event, who is obliged to blow for time up? My friend, the employee accountant? The auditors? The bank? Anyone else? Or do you just wait until the cheques start bouncing and the bank realises?
Say if a friend of mine was involved in a private company that is seriously running out of money but continuing to trade (arguably recklessly, arguably naively) in the hope of a turnaround.
The decision maker is the owner who would lose everything in the event of goign to the wall so he is pushing on in the vain hope of a turnaround.
In that event, who is obliged to blow for time up? My friend, the employee accountant? The auditors? The bank? Anyone else? Or do you just wait until the cheques start bouncing and the bank realises?