“This final decision stems from your insurmountable challenges arising in the insufficient handover of documents and knowledge via the past administration, which effectively still left Hitachi with no kind of knowledge concerning the administration, operations, and continuity of the company of Fusionex Group,” he stated.
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Hitachi learned, to their shock, that from Sept to Nov, at the least one hundred ten employees experienced possibly resigned or been retrenched. The directors were not educated of this significant problem.
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It's also not recognised if Hitachi has reached out to any clients to help them, nevertheless this sort of attempts are clearly handicapped by it not being aware of who Fusionex’s customers even are further than the massive kinds exactly where the contract wins were being accompanied by media releases.
The administration team and also the CEO owe a fiduciary responsibility into the Board and can't withhold any information and facts requested through the Board,” he reported.
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The petition has a chronological order of astonishing occasions exactly where Hitachi accuses Ivan and customers of his senior Management group of, “refusal to provide clear fiscal disclosures, the unexplained resignation of key personnel, and the lack of any data of consumers, suppliers, and personnel which suggest unethical and irresponsible organization conduct.”
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“The former senior management departed the corporate straight away without any sort of handover from the administration plus the functions.
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