Well well well,I never thought it would happen, but it is! German incorporated companies (GMBH types) are filing their balance sheets with the authorities in droves to make them available to the public.Since 1988 GMBHs (equivalent of limited companies)were supposed to file balance sheets every year in accordance with EU company law in line with that in the UK and other European countries. however, about 85% of them just ignored the law, much to the irritation of export credit managers around the world who had to make credit decisions on german clients without good financial data. However, under pressure from Brussels, the authorities have apparently imposed a much larger fine for non filing in recent months. My understanding is that in the last week of december 2007, 70,000 balance sheets were lodged, and a further 430, 000 are expected in the first week of January. these should eventually find their way into german credit reports.Good news for everyone!!!
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children