Bankruptcy looming for Fly Me Europe

The board of Fly Me Europe is to call a shareholders meeting to decide on a write-down of share capital after subsidiary company Fly Me Sweden filed for bankruptcy last week.

The board also intends to chase up the sum of 33.7 million kronor guaranteed by main owner Cognition in conjunction with the new issue of shares.

“The board and CEO deeply regret the consequences and problems that have emerged and continue to emerge for Fly Me Sweden’s former customers, employees, partners and others as a result of Fly Me Sweden AB’s bankruptcy” Fly Me Europe said in a statement.

Fly Me Europe also announced that board member Thommy Nilsson had notified the Swedish Companies Registration Office (Bolagsverket) of his intention to leave the board.


Police raid law firm linked to Fly Me

Lawyer Staffan Edh has resigned from law firm Hamilton in Gothenburg following speculation about his role on the Fly Me affair.

Police raided the offices of the law firm on Friday. One of the reasons for the raid was a client account not included in Fly Me’s accounts, which was controlled by Edh and Chairman of the Board, Björn Olegård.

No other board members had access to the account at the law firm, SVT reports.

Staffan Edh is a board member of Fly Me Sweden, which recently went bankrupt, and parent company Fly Me Europe. On Wednesday Hamilton announced that it was to look into Edh’s role in the bankruptcy.

“I think it is the right decision on his part,” said Hamilton’s CEO Mikael Wahledow.