The Auditor — And Why Erhvervsstyrelsen Should Appoint One

The one box we cannot tick immediately is the auditor. And I want to explain why, because this matters.

Shape Robotics was under bankruptcy administration for 59 days. During those 59 days, the court-appointed trustee — Teis Gullitz-Wormslev of Kromann Reumert — had sole control of every financial record, every bank statement, every accounting file, every document the company has ever produced.

Since the bankruptcy was annulled on 5 March, the trustee has not returned a single document. Not one page. We have demanded the return of company property in writing every single day for 41 days. We have filed a criminal complaint (reference 0100-83986-10362-26). The response from Kromann Reumert: silence.

No auditor can audit a company that has no financial records. We have contacted four audit firms. Every single one has confirmed: engagement is impossible without the underlying documentation.

This is why, in our letter of 15 April, the Board formally requested that Erhvervsstyrelsen appoint an auditor under Section 144(4) of the Danish Companies Act. This section states:

“Erhvervsstyrelsen kan udnævne en revisor, hvis et revisionspligtigt kapitalselskab ikke har den påkrævede revisor og et medlem af ledelsen eller en kapitalejer anmoder herom.”

Translation: Erhvervsstyrelsen can appoint an auditor if a company that is required to have one does not have one, and a member of management requests it.

We are management. We have requested it. The law is clear.

And here is the strategic value: an auditor appointed by the government has authority to demand the company’s records from the trustee. Kromann Reumert can ignore our letters. They cannot ignore a government-appointed auditor.