The finnish trade register has just announced, that the HumanCharger manufacturer Valkee Ltd has lost all of its share capital. That means, that all of the company’s ressources are depleted, and new capital is not in sight – not even theoretically.
In other countries, the firm would have to file for immediate insolvency or bankruptcy, which is regulated in the same chapter of finnish corporate law. In Finland, however, business could go on for a while – under extreme conditions, as purchases must all be paid in advance, and credits are stroke off. All business partners are now informed officially, that Valkee cannot fulfil upcoming liabilities.
Because of the consequences, such a notification is usually done in the least possible moment. It may be driven by the fact, that management and owners can be held liable personally from now on, if they don’t declare the final state publicly.
If anyone has claims against Valkee Ltd, now is the time to demand.
Personally I think, that the company will exist on paper for a few months, until its chairman Timo Ahopelto resigns from the board of TEKES, Finland’s tax-financed innovation funding agency. TEKES has shot in more than 100.000€ last year into Valkee, despite the obviously desperate state of the company, which was strictly documented in the 2016 balance.
Probably it’s the political dimension of the case. The snail media will report more soon. The source is earlightswindle.com – just in case they “forget” it again. /-Ed.