The UK Registrar of Companies has formally announced in the London Gazette that he intends to strike off a company called "Futuremedia Interactive Ltd", which I understand is a subsidiary of FMDAY.PK. (Check this for yourself @ the Companies House website - do not take my word for it!)

As Button Group is in receivership, (also check this yourself!) that would seem to only leave the PLC holding company to be "dealt with" and as the required Accounts and Annual Return have still not been filed, but I think we can resonably presume that a similar course of action is under active consideration for the PLC as well?

The last set of accounts could have given investors ammunition to use against directors who made claims about "positive EDBITA", "break even" and "profitability" during the time these accounts would relate to - if they are never produced there is no evidence.

If you destroy evidence of a crime, you can be prosecuted for doing so but in this ludicrous small cap world of smoke and mirrors, evidently the same principle does not apply to potential wrongdoing by company directors who are allowed to walk away, shake the dust from their feet and start all over again.

At the very least the Registrar should consider baring them all from ever holding another directorship in the UK for failing to carry out their statutory obligations.

This is all going on whilst a Company Voluntary Arrangement is in place - one might well wonder whether Parliament intended CVAs and their Administrators to allow companies to simply ignore their statutory obligations and fail to produce or file accounts and returns in this way and simply ignore shareholders' and creditors' interests completely?

I have enquired about the legal duties of CVA Administrators and have been told that their is no requirement for them to ensure filing compliance - this is ridiculous and should be addressed in the next revision of company law.