As of publishing of this information, Ivan hasn't responded to DNA queries to acquire his side in the Tale.
It's believed that other ex-Fusionex executives have also been achieving out to key authorities and personal sector customers in addition, assuring them of help nevertheless It's not clear through which organization.
Hitachi put five of its executives as non-executive administrators about the board with Ivan and his CFO, Chen Chiang as govt directors.
They have absent to court docket nonetheless it should experience a hearing right before everything requires place. So I’m not sure if the Listening to will almost certainly take place. All this is done by Hitachi’s attorneys.”
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Based on its winding up petition, Hitachi said it absolutely was alerted by Ivan in Sept 2023 that the corporate had suffered a sharp fall in earnings accompanied by a shocking revelation from Ivan at a gathering on 27 Oct 2023 that it would want to chop expenditures, such as speedy retrenchments, with out which it might not be capable of meet its money obligations by Nov/Dec and that the retrenchments would involve substantial compensation.
Such was Hitachi’s confidence in Ivan that it still left him and his management staff completely in charge this hyperlink of functioning FusioTech Holdings, the new company founded put up its acquisition.
You can find market speak that Ivan has an interest in the corporate although his name doesn't seem like a shareholder or director and someone aware of V-Circle tells DNA that Ivan has little interest in the company.
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In its place, Hitachi went to great lengths in its court papers to update the court with good depth of element of many of the irregularities and alleged wrongdoings that transpired.”
Hitachi described this as “surprising” as the associates in the Audit Committee were also directors of Fusiotech and must have unrestricted use of its economical records.
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Based on a highly trained attorney accustomed to liquidation matters, “Hitachi, as the sole shareholder, might have retained its winding up petition at a standard and superficial amount.
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