Insolvency specialist David Buchler has been appointed executive chairman of
troubled cash shell Langbar International.
The company, under investigation by the Serious Fraud Office over the
whereabouts of £365m in bank deposits, has also replaced finance director Jean
Pierre Regli with Christopher Wallis.
Buchler co-founded corporate restructuring business Buchler Phillips, and has
served as president of insolvency body R3.
‘This will not be a straight forward assignment,’ said Buchler. ‘However, we
will work with the company’s advisers and, where necessary, the appropriate
authorities to determine exactly what has transpired and pursue the recovery of
the company’s funds.’
A Langbar non-executive director, Philip Wood, has also resigned.
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