Court approves bid for bankruptcy ban in Lauritz.com case

The bankruptcy court authorized proceedings for a bankruptcy quarantine against former members of Lauritz.com’s management. Curators, who have been examining leadership activities preceding the company’s bankruptcy in July 2023, recommended a three-year ban for four individuals including the chairman and CEO Bengt Sundstrøm and his wife Mette, financial director Preben Vinkler Lindgaard, and board member Tue Byskov Bøtkjær. The curators accuse them of illegally mixing the company’s finances with personal funds and systematically ignoring consumer protection laws to benefit the company and its owners. Their actions reportedly exacerbated the creditors’ losses. The auction house had troubled finances and extended payment deadlines to 60 bank days before bankruptcy. The curators must file lawsuits within four weeks from the court’s decision.