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FLYME

Accounting firm deserts Fly Me

Just two days before a press conference at which Fly Me Europe intends to present its accounts, accounting firm ÖhrlingsPricewaterhouseCoopers AB has severed its connections with the troubled airline company.

Published: 19 March 2007 14:51 CET

Björn Olegård, chairman of Fly Me, described the move as “very surprising and unfortunate”.

According to business news website E24, the accounting firm has repeatedly requested explanatory documentation from Fly Me in connection with a number of transactions, including a share purchase from a foreign company and a loan to another Swedish company.

When Fly Me failed to supply the necessary documentation, ÖhrlingsPricewaterhouseCoopers wrote to the Swedish Companies Registration Office (Bolagsverket) to explain its decision to cease working with the company.

Fly Me has said it will proceed with Wednesday’s press conference as planned, but the accounts it is due to present have not been approved by an accountant.

FLYME

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.

Published: 23 March 2007 17:36 CET

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.