SINGAPORE - The media agency that gave the Football link of Singapore (FAS) its biggest-ever partnership concurrence - a $25 million, six-year exclusive rights accord - in 2015, is set to wind up, in the same way as doubts now hanging higher than the event of recovering some $3 million in unpaid rights fees.MP & Silva (MPS) has witnessed its London headquarters confirmed insolvent by Britain's tall Court of Justice, and its Singapore office is now set to follow on the same path.On Nov 19, PricewaterhouseCoopers' (PwC) Goh Thien Phong and Chan Kheng Tek were appointed as provisional liquidators of MPS after the company fixed that existing liabilities intended that it was unable to continue measure business. The Accounting and Corporate Regulatory Authority's (Acra) website lists MPS' status as "in liquidation - creditors' voluntary winding up".MPS' accounts have been frozen, its staff contracts terminated, and every its physical assets auctioned off for some $22,000. A visit to its Singapore headquarters at Infinite Studios, just off Portsdown Avenue on Friday, confirmed the fact: The MPS broadcast on the wall was every that remained in what was an blank office.A meeting for MPS' creditors was held on Dec 12 at PwC's offices, in the same way as the company's full verification of accounts presented. The Straits mature understands that representatives of the FAS were present at the meeting, in a bid to recover monies from MPS. A former MPS employee who was present revealed that creditors were informed that not a single shareholder of the company turned occurring at an fantastic general meeting scheduled earlier that day."We had to lawsuit in the best interests of the company as with ease as its creditors. We couldn't continue measure event - and paying salaries - in the same way as the company was beautiful much ashore in a come clean where it couldn't really attain business," he said, on condition of anonymity. aligned StoryFootball: FAS looking to claim unpaid rights fees from media agency MP & Silva
"It was inevitable that one of our creditors would file for liquidation in the same way as it happened in the UK."MPS was founded in 2004 by Italian businessmen Riccardo Silva and Andrea Radrizzani, the owner of English Championship side Leeds United. under their leadership, it became the biggest player in the global sports media rights market, holding the push rights to major competitions such as the summit English, German and Italian leagues, and Formula One.The pair sold a 65 per cent stake to Chinese companies Everbright Securities and Beijing Baofeng Technology for US$1 billion (S$1.38 billion) two years ago.Problems started to surface soon after.MPS reportedly fruitless to make payments to several supplementary creditors, including the English Premier League, Italian Serie A, and German Bundesliga.On Dec 1, The mature of London reported that PwC was seeking a tall Court order to appoint it as provisional liquidator in order to prevent a "scramble" for 4.32 million (S$6.75 million) in the bank accounts of MPS' Irish subsidiary, which reportedly owes 55.3 million to creditors.Across the Causeway, MPS' 15-year, RM1.2 billion (S$395 million) concurrence in the same way as the Football link of Malaysia (FAM), afterward signed in 2015, was been terminated and the event is now under arbitration.Its Singapore office afterward faced issues.Sources revealed that MPS' action president and chief meting out Seamus O'Brien, who associated by yourself in January, left the organisation in August.He was followed out the right of entry by Wu Swee Sin, MPS' Asia-Pacific managing director, along in the same way as several supplementary management-level staff, leaving behind what sources reveal was a skeleton crew of junior staff numbering fewer than 10.The long-lasting staff had their hands tied because of the company's authenticated issues and are understood to have conducted little to no event higher than the last five months.ST understands that long-lasting employees had their contracts terminated in mid-November without any guarantees of physical adequately paid for the one-month notice required since the withdrawal of contracts. Staff were asked by liquidators to give in proof of what the company yet owes to them, and have already provided the required documentation.Staff are usually the first creditors paid in the same way as a company undergoes liquidation, but that can by yourself happen after liquidators - in this lawsuit PwC - get a court order to liquidate.
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Juventus have sacked their manager Massimiliano Allegri. Email - naturalredproblems@gmail.com and we'll answer your problems on the podcast! Follow me on Twitter and Instagram!
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Czech Republic eased to a 3-0 win over Montenegro helped by an own goal and a penalty in the second half on Monday as they claimed a second consecutive win in Euro 2020. qualifying. The victory moved the Czechs level on six points with Group A leaders England, who beat them 5-0 at Wembley in their opening match and have a game in hand having
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This list is complete and up-to-date as of December 31, 2014. The following is a list of players, both past and current, who appeared at least in one game for the Cincinnati Reds National League franchise (1890-1953, 1958-present), also known previously as the Cincinnati Red Stockings (1882-1889) and Cincinnati Redlegs (1953-1958).
Neymar will miss the 2019 Copa America with Brazil after he suffered an injury to his right ankle in Wednesday's 2-0 friendly win over Qatar. Goal relayed a statement from the Brazilian Football
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