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Construction boss jailed for siphoning off cash for casino

Wesley Grainger-Smith, 66, was sentenced to two years and four months in prison at Lincoln Crown Court last week. Grainger-Smith, of Winthorpe, had previously pleaded guilty to five counts of fraudulently removing company property at an earlier hearing. The Insolvency Service also discovered around £570,000 in cash deposits paid back to the companies, which investigators…

Volocopter remains grounded; court opens insolvency proceedings

Volocopter filed for insolvency at the end of December. After Lilium, it was the second German e-VTOL startup to do so. Since December, the provisional insolvency administrator Tobias Wahl from Anchor Rechtsanwälte has been working on a reorganisation solution. Business operations initially continued, and Volocopter announced its intention to “develop a restructuring concept by the…

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