Hitachi placed 5 of its executives as non-government administrators on the board with Ivan and his CFO, Chen Chiang as executive administrators.
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The management crew and also the CEO owe a fiduciary duty for the Board and can't withhold any information and facts asked for from the Board,” he mentioned.
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In the end, as mentioned by Hitachi in its winding up papers, Fusionex was “possibly from the zone of insolvency” and “not able to continue carrying on its organization in its present condition.”
Hitachi’s legal professionals had been also not provided a duplicate on the directive and had been only allowed to look at it devoid of having any notes all through a meeting among the two sides in KL on 23 Nov.
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This provided a dialogue with a previous senior govt who tried to persuade me not to write with regard to the make a difference.
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Also, all facts referring to the continuity with the Fusionex operations and small business was not shared right before or handed about throughout their departure,” said the documents.
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