Such was Hitachi’s assurance in Ivan that it still left him and his management workforce absolutely in charge of working FusioTech Holdings, The brand new corporation recognized article its acquisition.

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The catalyst for The existing scenario began when Hitachi, as Component of its chance administration and corporate governance exactly where it conducts an inside audit of its subsidiaries each and every a few yrs, gave Ivan recognize in Aug 2022 that it intended to do an audit on Fusionex Group and Fusiotech Holdings in March 2023.

Hitachi put 5 of its executives as non-executive directors around the board with Ivan and his CFO, Chen Chiang as government administrators.

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"It would seem that the modern incidents can be triggered by some bash which desires to circumvent the delisting from taking place, in addition to to get pleasure from the share value tumbling," advised the source.  

They have gone to court docket nevertheless it really should go through a hearing right before something usually takes location. So I’m unsure when the hearing will probably happen. All of this is done by Hitachi’s attorneys.”

As of publishing of this text, Ivan has not responded to DNA queries to receive his aspect of your Tale.

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Btw, this non-cooperation also provided a senior secretary who refused to supply the new CEO, Hiroyuki Kumazaki, While using the cell numbers of many of the senior Management workforce and who in the beginning refused handy about her corporation laptop computer to him. And when she did, it was discovered to have already been cleaned (reformatted to erase all past data.)

A few days afterwards the inhouse authorized counsel for Fusionex confirmed Hitachi’s legal professionals a replica of One more ‘government directive’ dated 27 Nov which purported to prohibit Fusionex from sharing any knowledge Along with the audit committee.

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