Odaily Planet Daily News London Blockchain.com executives are facing prosecution for failing to submit company accounts on time. The company's co-founder and president Nicolas Cary and operations director Al Turnbull received a summons from Companies House in May. The case against Blockchain.com executives was heard at Cardiff Magistrates' Court on September 25. Subsequently, another court date was set for November 26 to continue the lawsuit. Blockchain.com only submitted its 2020 year-end accounts this month. At the same time, the lawsuit also pointed out that the company failed to submit its annual accounts for December 2022. It is understood that directors or designated members are personally responsible for ensuring that documents are submitted in a timely manner. If there is a delay due to unforeseen events, the company can request an extension. However, this request must be made before the application deadline. In addition, failure to submit accounts may result in an unlimited fine after conviction. Blockchain.com stated in its 2020 accounts that its directors have hired legal counsel and plan to defend the matter. The company attributed the delay in filing to corporate restructuring and a "significant reduction in headcount" which "will take some time to stabilize." Blockchain.com has hundreds of employees around the world. The company also added that directors are taking "appropriate steps to ensure that the company complies with all statutory annual filing requirements." (Telegraph)