Parent
company controlled weak subsidiary.
company controlled weak subsidiary.
Accountants
would not sign off accounts.
would not sign off accounts.
Parent
company therefore gave letters of financial support to auditors and creditors.
company therefore gave letters of financial support to auditors and creditors.
Subsidiary
then went into liquidation.
then went into liquidation.
Was
parent company ‘carrying on business’ of subsidiary by providing letters of
support?
parent company ‘carrying on business’ of subsidiary by providing letters of
support?
No,
was not ‘positive step’.
was not ‘positive step’.
