According to a seasoned attorney accustomed to liquidation matters, “Hitachi, as the sole shareholder, could have saved its winding up petition at a essential and superficial stage.With the floor level, plainly minority shareholders and important shareholders like Teh are the biggest casulties.KL20: Dr V Sivapalan on transforming the startup … Read More

In the meeting, attended by Jacob Isaac, the Controlling Director and Chen Chiang, the CFO, a 2nd choice was introduced which entailed an immediate shareholder capital injection of concerning US£100 million to US£a hundred and fifty million (by mid Nov) to stabilize the team, reduce further more erosion of self esteem and decline of custom… Read More

Ultimately, as mentioned by Hitachi in its winding up papers, Fusionex was “most likely within the zone of insolvency” and “not able to continue carrying on its organization in its latest condition.”Furthermore, all information relating to the continuity of the Fusionex operations and enterprise was not shared right before o… Read More