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23 Oct 2002
The company's two founders - Garth Drabinsky (chief executive) and Myron Gottlieb (president) - and two other executives were charged with falsifying the financial statements at Livent and misrepresenting its financial health, according to a report in the FT.
They have also been charged in the US with conspiracy and securities fraud. The two other executives named are Gordon Eckstein, former vice-president of finance and Robert Topol, the former chief operating officer.
The charges relate to accounting irregularities from 1989 to 1998, and represent Canada's first high-profile response to serious financial crime, in the wake of accounting disasters across the border in America.
Livent, a live theatre company with venues in Toronto, Vancouver, New York and Chicago collapsed in 1998.
Both men have repeatedly denied any wrong-doing.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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