It sounds like Meydan refused to stump up available facility funding and other secured creditors put the company into receivership.You would think Openpay could negotiate with other secured creditors to keep the lights on as Meydan is taking all of the risk.I wouldn't blame Meydan as he kept this company going for years and has lost millions. Management has failed its shareholders and another one bites the dust.
Ann: Appointment of Receivers and Managers, page-8
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