Wirecard, the German scandal-hit payments company, said on Saturday it would proceed with business activities after filing for insolvency and expects a provisional administrator to be appointed by judicial authorities shortly. “Whether insolvency proceedings will be opened is still under review.” Wirecard collapsed on Thursday owing creditors almost $4 billion after disclosing a hole in its books that its auditor EY said was the result of a sophisticated global fraud. …read more
Source:: Yahoo Finance
