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The title here is misleading. They are "ceasing trading activity" ... "as we do all we can to resume operations as promptly as possible." The statement allude

• PeterisP 14y ago
  Well, "financial irregularities which in accordance with Irish law oblige the directors ..." is legalese that, in essence, means something like "we've caught someone [stealing from the cookie jar / lying about losses] on a so large scale that the board is not sure if the company will be able to pay the money it owes to everyone". There are just a few cases where the law obliges directors to do something; I'm not an expert in Irish legislation, but most likely they are clearly enumerated in a single law.
  • jellicle 14y ago
    Well, it's worse than that. No significant company would shut down in this manner unless they were 100% certain that they did NOT have the money to pay their debts.
    • Vivtek 14y ago
      ... or a court ordered them to do this.
    • kevinpet 14y ago
      I don't think that's true. Financial regulations tend to force you to pull the plug as soon as you can no longer prove that you are solvent. There's a large range between "cannot prove we do" and "can prove we do not".
• unreal37 14y ago
  I don't think it's misleading. Reading that statement by Intrade makes the situation seem that dire.
• joonix 14y ago
  Read between the lines. There's likely been fraud here. They aren't coming back from this.