Business
The Farm 51 Group Creditors Declare Takeover Of Chernobylite IP
The Farm 51 Group Creditors Declare Takeover Of Chernobylite IP
About this update from Farm 51 Group Sa
The Farm 51 NEWCONNECT:F51:SAID ON MONDAY THAT ITS CREDITORS FINGAMES FUND 1 AND FINGAMES LENDING HAD DECLARED TAKEOVER OF OWNERSHIP OF CHERNOBYLITE 1 AND CHERNOBYLITE 2 GAME IP RIGHTS INDICATING THE AMOUNT OF EUR 430,000 AS THE VALUE OF THE PLEDGED ITEM FOR THE PURPOSES OF ACQUISITION TO SATISFY THE PLEDGEECREDITORS PROPOSE DEAL TO WAIVE REMAINING DEBT PRINCIPAL, IF COMPANY TRANSFERS UNENCUMBERED CHERNOBYLITE 1 AND CHERNOBYLITE 2 IP RIGHTS AND PROVIDES STEAM RE-REGISTRATION DATACOMPANY DISPUTES VALIDITY OF IP SEIZURE SAYING TAKEOVER SHOULD NOT HAVE LEGAL EFFECTTOTAL REMAINING DEBT CALCULATED BY CREDITORS AT ABOUT 679,616 EUR AND 524,516 ZLOTYSCREDITORS DEMAND IMMEDIATE PAYMENT OF ABOUT 179,616 EUR AND 24,516 ZLOTYS IN INTERESTSEPARATELY, CREDITORS DEMAND ADDITIONAL 700,000 ZLOTYS IN PENALTIES OVER ALLEGED STATUS QUO BREACHCOMPANY DISPUTES 700,000 ZLOTY CLAIM, SAYING IT DOES NOT ACCEPT THE CHARGES AND CHALLENGES THEIR LEGAL BASIS Source textS for Workspace: Further company coverage: