Debtors examine criminal liability for free newspaper .ch
Following the bankruptcy of the free newspaper .ch, at least one shareholder and several creditors are investigating whether the free newspaper’s board of directors bears criminal liability. The investors and management are accused of promising a long-term commitment and failing to honor it.
Following the bankruptcy of the free newspaper .ch, at least one shareholder and several debtors are considering a
criminal liability of the board of directors of the free newspaper, according to an investigation
of the Schweizer Journalist magazine. According to SDA, the shareholder is primarily concerned with the business conduct of the Board of Directors. Others would simply like to have their money, writes the Swiss
Journalist in its August/September 2009 issue.
The investors and management are accused of having promised a long-term commitment and failing to keep it. In addition, the newly founded company Punkt ch was not provided with sufficient capital. The transition from the old company to the new company took place at the end of 2008 and Punkt ch was entered in the commercial register in January 2009. The free newspaper .ch was discontinued in May "for economic reasons".
Several dozen debtors have registered their claims against Punkt ch, including the news agencies SDA and AP as well as the specialist media publisher Oberauer. Several transport companies and Direct Mail are also demanding money.
According to Schweizer Journalist magazine, the old company Media Punkt has not been spared either: until a few weeks ago, claims of more than CHF 11 million had been received. In brief statements to Schweizer Journalist, the major investors emphasize that they have fulfilled their obligations to the old and new companies.
criminal liability of the board of directors of the free newspaper, according to an investigation
of the Schweizer Journalist magazine. According to SDA, the shareholder is primarily concerned with the business conduct of the Board of Directors. Others would simply like to have their money, writes the Swiss
Journalist in its August/September 2009 issue.
The investors and management are accused of having promised a long-term commitment and failing to keep it. In addition, the newly founded company Punkt ch was not provided with sufficient capital. The transition from the old company to the new company took place at the end of 2008 and Punkt ch was entered in the commercial register in January 2009. The free newspaper .ch was discontinued in May "for economic reasons".
Several dozen debtors have registered their claims against Punkt ch, including the news agencies SDA and AP as well as the specialist media publisher Oberauer. Several transport companies and Direct Mail are also demanding money.
According to Schweizer Journalist magazine, the old company Media Punkt has not been spared either: until a few weeks ago, claims of more than CHF 11 million had been received. In brief statements to Schweizer Journalist, the major investors emphasize that they have fulfilled their obligations to the old and new companies.
