Crouchland Director Resigns

Very interesting to see that Mr Graham Woolfman, one of the Directors of Crouchland Biogas Ltd. resigned on 12th December 2014.

The Company now only has 4 Directors; Barry Evans, Ewen Angus Cameron, Leon Mekitarian and William Luttman-Johnson.

When the above information was posted on the PORE facebook page, two days ago, the following comments were then made by members of the public;

1) 'I think that if I had anything whatsoever to do with the Crouchlands I'd be anxious to understand why the man in charge of private equity (ie fundraising) should suddenly resign. One possible reason could be that the company is 'trading whilst insolvent' and this director, with multiple interests elsewhere, cannot afford to compromise himself legally? Just HOW financially secure IS Crouchlands right now????

2) 'Under UK law, trading while insolvent can breach the Insolvency Act 1986. If a company is insolvent and the board continues to trade, the directors may become personally liable to contribute to the company's assets and help meet the deficit to unsecured creditors if the company's financial position is made worse by the directors continuing to trade, instead of putting the company immediately into liquidation. And directors who continue to trade when insolvent may face disqualification under the Company Directors Disqualification Act 1986 if the company goes into liquidation. So it's extremely interesting that Graham Woolfman has resigned as a director of Crouchland Biogas - he's afterall a chartered accountant with multiple directorships.

3) Presumably getting out before the company goes bust?

4) Let's hope so!