OceanX: India Shining + freight rate horror stories = crumbs of comfort
Optimism or realism?
Complicated story this, but basically it would appear that three directors from UK courier firm City Link, which infamously announced its bankruptcy days before Christmas giving thousands of workers barely a few hours’ notice of redundancy, are set to be prosecuted over their failure to properly inform the government – specifically the business secretary – of the redundancies. The government paid out around £5m to City Link employees in statutory redundancy pay after the company failed to give them the proper 30-day notice, and marks a change of strategy for the Department for Business – although acting on legislation that has existed for over 20 years, this is the first time that company directors are to face criminal proceedings in the case of a bankruptcy.
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