forge group shareholders threaten legal action, page-8

JB

The auditors role will be looked at. However there is a bit of a myth in investing circles in that auditors "tick off " accounts in some way giving some comfort as to future performance / business practices.

Auditors are there to show that the accounts represent a true and fair view of the businesses financial position as at a certain date. They are not there to judge the business model that is being run.

The actual last accounts published for forge were 30/6/2013. If they are incorrect then the auditors may have some explaining to do ( as they should ).

As far as how long this will take, well bank receivers will determine this. Receivers can be appointed until secured creditor is fully repaid , or until such time as they make a commercial decision that no further realisations will be achieved. Unfortunately that can be a very long time and there is no sunset clause.

employees get priority in respect of some entitlements , after that the bank, then unsecured then shareholders.