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Julie Meyer fails to show up for unpaid salary cases

Notification to attend court was unsuccessful

Updated at 1.05pm

Magistrate Donatella Frendo Dimech has ordered the Commissioner of Police to locate entrepreneur Julie Meyer within 48 hours, after she failed to show up in court on Wednesday.

She was hearing the first in three cases against Ms Meyer for unpaid salaries.

The magistrate ordered the commissioner to dedicate all the police resources required to find her - including fixed point watch at any address she may be in.

Read: Julie Meyer's Ariadne Capital put into hands of administrators

The Department of Industrial and Employment Relations representatives in court declared that Ms Meyer had said that she was going to pay. Her lawyer said that he had the money in his possession.

Joe Giglio, appearing parte civile for one of the employees, said that he had corresponded with Ms Meyer via e-mail and declared that she was in Malta.

The prosecution informed the court that the notice of summons was negative, meaning that notification to attend court had been unsuccessful.

Ms Meyers' UK company Ariadne Capital was put into the hands of administrators last December, which she insisted was part of a pre-planned strategy.

However,  administrator Leonard Curtis - one of the largest independent firms in the UK specialising in corporate recovery, insolvency and business restructuring - has now contacted its creditors to ask if they would be willing to fund a possible legal action to challenge allegedly suspicious transactions involving the business, according to London's The Times. She has brushed off the story saying the claims had no merit.

They are seeking legal advice to explore “potential claims” concerning the sale of Ariadne Capital assets - Malta-based Entrepreneur Country - to a related party in 2016 and possible discrepancies in the company’s finances, The Times revealed.

The Times of Malta last year reported that she was being sued by a company in Malta for unpaid bills, as well as being pursued by employees – both in Malta and from her operation in the UK – who had not received their wages.

Ms Meyer's Ariadne Capital Malta also acquired Portcullis Asset Management in 2017, along with its licence as a Category 2 Investment Services Licence Holder to manage professional clients (including collective investment schemes).

The Malta Financial Services Authority confirmed to the Times of Malta that following the resignation of Erik Ferm on January 3, 2018, Ms Meyer is now the only member of ACML's board.

Read: Asset management company ends up with only one director

Asked whether any action was taken with regards to this and whether operations had been suspended, the MFSA said: "As part of the supervisory process on licensed entities, the MFSA reviews the conduct as well as the governance structure of Ariadne Capital Malta Limited.

"This process is an on-going process which is governed by the respective laws and if the MFSA identifies any incidents of lack of compliance and eventually decides to take regulatory action against one of its licensed entities, that action will be published on the MFSA’s website following the conclusion of the due process required in terms of the MFSA’s statutory obligations."

Meyer insists that money should have been paid by now

Ms Meyer later insisted that the money should have been paid by now, saying that her lawyer had confirmed that he had received the money and would get it to the employees on her behalf.

Saying that she was "pretty upset" that this had not been done, she said that she even asked her COO for confirmation that the funds had been sent and that there would have no problem at the magistrate on Wednesday morning.

"I was told [via WhatsApp] not to worry, that the funds had been transferred etc. I was told that there was no need for me to be at the magistrate as the employees would be paid well in advance. It is not clear to me right now why my money was not transferred to the employees as I was told that it would be," she said.

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