Foreign media: Blockchain.com executives sued for failing to submit company accounts on time

London Blockchain.com executives are facing prosecution for failing to file the company's accounts on time. The company's co-founder and president, Nicolas Cary, and operations director, Al Turnbull, received summonses from Companies House in May. The case against Blockchain.com executives was heard at Cardiff Magistrates' Court on September 25. Subsequently, another court date was set for November 26 to continue the lawsuit. Blockchain.com only filed its 2020 year-end accounts this month. Meanwhile, the lawsuit also points out that the company failed to file its annual accounts ending December 2022. It is understood that directors or designated members are personally responsible for ensuring that documents are filed in a timely manner. If there is a delay due to unforeseen events, the company can request an extension. However, this request must be made before the filing deadline. In addition, failure to file accounts may result in an unlimited fine upon conviction. Blockchain.com said in its 2020 accounts that its directors have retained legal counsel and plan to defend the matter. The company attributed the delay to corporate restructuring and a “significant reduction in headcount” which “will take some time to stabilize.” Blockchain.com has hundreds of employees around the world. The company also added that directors are taking “appropriate steps to ensure the company complies with all statutory annual filing requirements.” (Telegraph)