Two former directors of bankrupt budget airline Fly Me to be sentenced to more than 40 million, plus legal costs, damages to Fly Me’s bankruptcy.
The dispute involves a payment which the bankrupt claims went to the company’s principal shareholders for an equity purchase, while the Board argues that it was about a purchase by another company.
The district court went to the bankruptcy estate line. Previously, the board members indicted for aggravated breach of trust for the same issue. They were acquitted from the charge, but convicted therefore, to pay damages.
The budget airline Fly Me went bankrupt in 2007. Thousands of passengers were stranded when the company went bankrupt, and many small shareholders lost their money.
The two Directors has previously been sentenced to six months in prison for aggravated accounting fraud in Fly Me.
No comments:
Post a Comment