Japans GMO Internet CEO Kumagai Faces Hawaii Deposition After Latest.jpeg
Massochi KomagayGMO Internet Group, Inc. (Tse: 9449) involved in legal fighting with Riot Platforms, Inc. (NASDAQ: RIOT) Whinstone
GMO Whinstone has rented the use of mining facilities in the United States and blames the latest failure
He genetically modified that Mr. Kumagai was an executive executive away from Bitcoin mining, so he should not be removed, but the judge differs
The judge’s decision stipulates that “the record is full of Mr. Kumagai email messages, which depicts a completely different image of those drew by genetically modified organisms.”
Mr. Kumagai is scheduled to be deposited in September 18-19 in Hawaii
Mr. Kumagai runs a smaller version of clumps Softbank Group Corp (Tse: 9984) with dozens of subsidiary companies
Corporate Governance expert Professor Charles Elson calls the complex structure “problem”
The Internet was genetically modified Self -failure in bitcoin mining In 2018 when she corrected cash damage by selling risks in subsidiary companies
The problem in the “Swiss Office” in GMO led to 35.5 billion June (about 320 million dollars at the time in 2018) in losses in the field of coded currency in only one year.
Bitcoin mining similar to the F1 race, with the presence of first -class equipment, maintenance and experience for any chance to win. But when the wheels are launched in the GMO Internet Group, Inc. Now, the American Court calls on the Internet “Jesus” for itself for carpets on American soil.
Gmo Internet, which runs dozens of subsidiaries, some of which are listed alongside the father in Tokyo, repeatedly to earn money in the field of bitcoin mining without success. The last conflict includes a mining center provided to the Internet by Whinstone, which is now a section of Riot Platforms, Inc. (NASDAQ: RIOT).
In essence, the operation struggled and genetically modified creatures filed a lawsuit against Whinstone to violate the contract. For its part, the Whinstone, who continues to operate the facility after a long period of genetically modified organisms, argues that the Japanese company has refused to make investments in the maintenance needed to succeed in very competitive works.
The most strange argument in the case comes from genetically modified organisms, which tried to prevent Mr. Kumagai on the basis that he is a protected position through the so -called “the doctrine of the summit”. This protection is designed to protect executives who do not participate in minutiae in court.
But Whinstone indicates a number of reasons that make Mr. Kumagai away from Apex CEO. Whinstone says it was a signature of an agreement on the Texas Mining Agreement, and it was “broken in herbs” in the implementation of genetically modified US mining, and more than 100 email messages that directed how to manage business.
The court undoubtedly sided with the stone on this issue. I ordered Catherine e. Parker, the American boycott court for the southern region of New York, to remove Mr. Kumagai already and the dates for this week were appointed from 18 to 19 September in Hawaii.
Judge Parker wrote in her decision: “The deposition of Mr. Komagay will provide unique evidence, because it is clear that he has personal knowledge of the basic agreement that cannot be obtained from other sources.” “The announcement of Mr. Kumagay, stressing the opposite, not convincing. The record is full of Mr. Komagay email messages that depict a completely different image of the image drawn by genetically modified organisms. In intelligence, an executive appears involved in every aspect of the main strategic decisions within the nucleus of the facts that are the subject of these laws.”
The third party observer reads the judge’s decision to be very clear. “The truth of that [Mr. Kumagai] He was ordered that he is being removed means that he has knowledge of the same issue, “said Charles Elson, the founding director, Winberg Center for Corporate Governance at Dilayer University of Corsovov.
One of the prominent lawyers explains that the “principle of summit” can be applied reasonably to protect senior executives from deposits about matters that have little knowledge, such as the CEO of the IPO, which faces a lawsuit for shareholders after the presentation of fatal papers. “The doctrine is important because lawyers can try to use C-SUITE executives as a financial lever,” said Jason Halber, partner, partner, commercial litigation at Vinson & Elkins LLP. “This does not seem to be the case in this case, so the ruling is consistent with how the doctrine works and it should work.”
The internet has not returned genetically modified objects on a request for comment from Corphgov, while Whinstone spokesman refused to comment on this.
Genetically modified organisms have suffered multiple incidents in various encryption invasions. When Stablecoin launched, she temporarily lost its link, which led to great losses to investors. As a result, collective lawsuits of Stablecoin investors who seek to recover damage.
The most important stirring in Bitcoin Mining – at the time in Europe in 2018. The Internet suffered from genetically modified organisms 35.5 billion June (about 320 million dollars at that time) in the unified losses of mining operations “Swiss Office”, which led to the suspension of the development, manufacture and sale of mining machines. “The profitability of the internal mining business of the group of genetically modified organisms with a decrease in the price of cryptocurrencies and our mining share did not rise as expected due to the high global retail rate, which exceeded our initial assumption,” GMO Internet said at the time. “After taking into account the changes in the current business environment, the company expects that it is difficult to recover the book amounts of commercial assets related to the subject, and therefore, it has been decided to record an extraordinary loss.”
GMOs around this time as the money ascended by selling shares in two subsidiaries: GMO Financial Holdings and GMO Payment Gateway. Regarding the company’s structure, Professor Elson also witnessed possible problems. He said: “The more complicated the company’s structure, the more problematic.”
Kurgov
John Janaron
Editor -in -chief
Editor@corgogov.com
Read more
Hodl on Tige
Register in the weekly newsletter here
Click here to follow us on LinkedIn
Komagay, CEO of the GMT in Japan, faces Hawaii after the last failure of encryption in Corbgov.
