Yota a dual display smartphone manufacturer, goes bankrupt declared the Cayman Islands Supreme Court in a recent ruling. According to the local newspaper, Cayman Islands Gazette, Yota requested for liquidation per local laws a few days ago.
The court appointed FTI Consulting employees David Griffin and Joshua James Taylor as the Joint Official Liquidators of the company. Yota creditors have 21 days to establish any title they may have under the Companies Law. Failing to comply with the order within the given time the creditors will be excluded from any benefit or distribution made.
Hi-P Electronics, a Singaporean company and display supplier of Yota Phone also filed a lawsuit against the company for not fulfilling the subscription co…
Read the full article at: https://www.gizmochina.com/2019/04/19/yota-phone-bankrupt/