News Posts matching "bankrupt"

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Mad Catz Makes Voluntary Assignment in Bankruptcy

Mad Catz Interactive, Inc. (the "Company") (OTC Pink:MCZAF) announced that, with the authorization and approval of its Board of Directors, it and its subsidiary, 1328158 Ontario Inc., made a voluntary assignment in bankruptcy on March 30, 2017, pursuant to the provisions of the Bankruptcy and Insolvency Act (Canada). Pursuant to the assignment in bankruptcy, PricewaterhouseCoopers Inc. ("PWC") has been appointed as the trustee in bankruptcy of the Company's estate.

The Company's wholly-owned subsidiary, Mad Catz, Inc., ceased operations and also has filed a voluntary petition for relief under chapter 7 of the United States Bankruptcy Code to initiate an orderly liquidation of the assets of the Company. In addition, certain of the Company's other subsidiaries have filed or will file for liquidation under comparable legislation in their countries of origin. The Company also announced that all of the directors and officers of the Company have resigned effective as March 30, 2017.

Point of View, Historic AIB Partner, Declared Bankrupt by Court

Point of View, the Netherlands-based technology company established in 2000, has officially been declared bankrupt by the court in Oost-Brabant. The company's majority of sales were in Europe, where it served more than 30 European countries. The company also included Point of View Taiwan, Point of View China, Point of View Hong Kong, Point of View France and Point of View United States as additional branches.

The first NVIDIA graphics cards from the company harken back to the FX 5000 series days, with the company being particularly prolific on the 8000 series, with no less than 19 graphics cards ranging from the 8400GS through the legendary 8800GT. The company's products have definitely been on the downside, however, having been relatively popular in the GTX 500 and 600 series' days. Historically an NVIDIA-exclusive AIB partner, the company branched out into other consumer products, such as tablets, laptops and computer accessories. If you need a nostalgia-inducing shot, or simply want to see what kind of products Point of View delivered, feel free to read TPU's review on the Point of View TGT GTX 680 Ultra Charged LLS 4 GB, coined by our very own W1zzard.

Zalman Denies Going Bankrupt

In the wake of Zalman's parent company Moneual getting in serious trouble over financial fraud, it was reported that Zalman is filing for bankruptcy protection. Over the weekend, Zalman's US office issued a statement, denying this. A company spokesperson for Zalman issued the following statement to the press.
I know that recently various media and other vendors are spreading rumors regarding Zalman going bankrupt over the recent scandals in Korea by our parent company Moneual. I wanted to assure you that these rumors of Zalman HQ going bankrupt are completely false. While our HQ is having some financial difficulties due to the recent troubles experienced by Moneual, Zalman is not going bankrupt.

Source: Tom's Hardware

Zalman Files for Bankruptcy for Major Financial Fraud by Parent Company

Popular PC cooling products maker Zalman filed for bankruptcy, in midst of a huge controversy by its parent company Moneual. Executives of Moneual cooked-up sales and export figures from Zalman to markets like the United States, in a bid to pick up large fraudulent loans for the company, which it could never pay off, pushing it to bankruptcy.

The controversy came to light, when a whistleblower former-employee of Moneual took these details to the press. It's alleged that CEO Harold Park (Hong-seok), Vice President Scott Park (Min-seok) and Vice President Won Duck-yeok committed a fraud, in which subsidiary Zalman would inflate its sales and export data, to qualify for large bank loans. The trio then used it to lift US $2.92 billion in loans, which the company could never pay back. Zalman has since filed for bankruptcy protection, with the Seoul Central District Court; while the three top Moneual executives, and 13 other mid-level ones, were arrested over allegations of export fraud.

Source: Futurelooks

A.C. Ryan Europe Bankrupt?

Dutch online publications report that A.C. Ryan Europe may have gone bankrupt citing an anonymous employee. The employee said that the company was a victim of "commercially-wrong decisions" by its higher-ups. The office of A.C. Ryan Europe, located in Rotterdam, The Netherlands, has been listed on a property rentals website, and nobody is answering its telephone. The company is still listed by the Dutch Chamber of Commerce as not being bankrupt. More details are awaited. A.C. Ryan specializes in media players.

Source: MyCE

Google to Buy Motorola Mobility

Today Fox Business is reporting U.S. and European regulators approved Google Inc's $12.5 billion purchase of Motorola Mobility on Monday and said they would keep a sharp eye on the web search giant to ensure patents critical to the telecom industry would be licensed at fair prices. The U.S. Justice Department also approved an Apple Inc -led consortium's purchase of a trove of patents from bankrupt Canadian company Nortel Networks.Both the Justice Department and European antitrust authorities said that they would monitor how patents are used to ensure they comply with antitrust rules. Antitrust enforcers on both sides of the Atlantic are concerned that patents essential to ensuring communications devices sold by different companies work together are licensed for a reasonable fee.

In Wake Of SOPA Defeat and Rising Profits, IFPI Calls For 'SOPA Plus' Migraine Tablet

Yes, that's right, SOPA might have been set back for now, but the vested interests from the big media corporations (music/movies/news etc) that want it implemented unsurprisingly aren't sitting idle and are pushing for ever more draconian measures aka 'SOPA Plus'. A digital music report (PDF) asks for everything that was in the original SOPA and then some, with a wishlist of seven 'fixes':

Kodak Files for Bankruptcy Protection

Despite numerous efforts throughout the last decade, Kodak still hasn't been able to turn its business around. The once mighty imaging company has been on a downwards trend for a long time and now, in 2012, things reached critical levels as it decided to file petitions for chapter 11 business reorganization in the U.S. Bankruptcy Court for the Southern District of New York.

According to Kodak, this move will enable it to 'bolster liquidity in the U.S. and abroad, monetize non-strategic intellectual property, fairly resolve legacy liabilities' and will allow it to 'focus on its most valuable business lines'.
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