Delaware Judge Blocks Papaya Gaming From Transferring US Funds Offshore After CEO Testimony
Photo: Casino.org
A federal bankruptcy judge in Delaware has barred Papaya Gaming from transferring funds out of the United States, issuing the order after finding testimony from the company’s CEO “not credible” during proceedings linked to its Israeli restructuring. Papaya is an Israeli-based mobile gaming operator that was convicted earlier this year of violating the federal Lanham Act and New York General Business Law. On Oct. 27, U.S. Bankruptcy Judge Mary F. Walrath ordered Papaya to cease transferring assets from the company’s U.S. accounts to offshore holdings. A three-day evidentiary hearing held Oct.
Source: Casino.org
