The winding up petition towards the Fusionex Team of companies are still pending prior to the courtroom and While using the Court Listening to the petition in Could 2024.

As of publishing of this short article, Ivan has not responded to DNA queries to obtain his facet in the story.

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Hitachi identified, for their shock, that from Sept to Nov, no less than one hundred ten staff members had either resigned or been retrenched. The directors were not knowledgeable of the significant problem.

But this ask for via the house owners of the business and its appointed directors and audit committee was denied by Ivan, all on the pretext of some “governing administration directive” that prevented him from sharing financial info sought by Hitachi in a corporation they owned, 100%.

It's also not identified if Hitachi has attained out to any clients to help them, while these attempts are Obviously handicapped by it not figuring out who Fusionex’s shoppers even are over and above the large types exactly where the contract wins were accompanied by media releases.

This bundled a dialogue that has a former senior govt who tried to influence me not to put in writing with regard to the issue.

But a clear picture emerges with the unusually specific winding up petition filed by Hitachi, viewed by DNA, where by Hitachi chronologically lists a series of steps by Ivan and his Management team above a 15-month period of time that is definitely sweeping and spectacular in scope, outlining flimsy excuses, non transparency and non-cooperation with Hitachi.

While in the Conference, attended by Jacob Isaac, the Handling Director and Chen Chiang, the CFO, a next selection was introduced which entailed a right away shareholder YOURURL.com capital injection of concerning US£a hundred million to US£a hundred and fifty million (by mid Nov) to stabilize the group, prevent more erosion of self esteem and decline of consumers.

To facilitate the changeover Hitachi will honour December payments to all its personnel, stated the paperwork. On top of that, an extra amount equivalent to a January wage is going official website to be specified on the goodwill foundation. The current management is usually arranging aid for employees to search for new jobs.

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But, aiming to assist solve The difficulty, Hitachi established out some pre-situations for Ivan to acquire funding from it, which incorporated:

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