But a clear picture emerges with the unusually comprehensive winding up petition filed by Hitachi, seen by DNA, the place Hitachi chronologically lists a series of steps by Ivan and his Management workforce around a fifteen-thirty day period interval which is sweeping and spectacular in scope, outlining flimsy excuses, non transparency and non-cooperation with Hitachi.
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Once again, Hitachi’s authorized staff ended up refused a copy from the ‘Governing administration Directive’ and only permitted to search at it visually without taking any notes.
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During the Conference, attended by Jacob Isaac, the Managing Director and Chen Chiang, the CFO, a 2nd alternative was presented which entailed a right away shareholder capital injection of among US$one hundred million to US$150 million (by mid Nov) to stabilize the team, stop more erosion of confidence and loss of customers.
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Numerous expressed shock and disbelief that not simply Ivan, but associates of his Management crew could behave in this kind of an unprofessional, unethical and irresponsible method. “If This can be true, And that i Truthfully discover it challenging to imagine, then they've opened by themselves to lawful action from Hitachi and also probable censure from your Experienced bodies They may be customers of,” claimed one particular tech ecosystem chief with a solid corporate qualifications.
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