Order of Canada recipient Mohamad Fakih fights attempt to remove him from the company he founded

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ประเทศไทย ข่าว ข่าว

ประเทศไทย ข่าวล่าสุด,ประเทศไทย หัวข้อข่าว

Order of Canada recipient Mohamad Fakih fights attempt to remove him from the company he founded — via financialpost Finance

, which chronicled Fakih’s hardworking days as a businessman, philanthropist and family man that sometimes began as early as 4 a.m.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way.

After failing to get the answers they were seeking from Fakih, the Kuwait-based investors retained A. Farber & Partners Inc. to assess the state of the business and potential restructuring options. They say the report revealed Fakih and his company, Fakih Group Inc., owe nearly $12 million to the business.

Fakih disputes the allegations and took action against his business partners last year, accusing them of failing to live up to their obligations to the business.Article content Part of that fundamental understanding was that “Mr. Fakih and the Noureddine Parties would promptly fund all operational shortfalls or required capitalization for the ongoing business pro rata with their respective shareholdings,” the documents claim, and “to the extent that Mr. Fakih’s role in the management of Paramount led to any potential personal liability, the Noureddine Parties would indemnify and hold Mr. Fakih harmless in proportion to their shareholdings.

Further, Fakih accuses his business partner of “directly pressuring and instructing Paramount employees to pressure business counterparties, making representations and commitments on behalf of Paramount to business counterparties without authorization, and ultimately withdrawing those commitments without regard to the resources wasted in the course of negotiations, all of which gave rise to strained relationships and in some cases led to disputes and litigation.

Reached by phone, Fakih said his investors are attempting to use a counterclaim to an action he filed demanding they fulfil their financial obligations to him to damage his reputation “because I’m going after them hard to get my money.”Article content “They’re just throwing dirt because they know my reputation is very important to me,” he said. “The company is viable and it’s worth saving.”Article content

“In summary, the status quo does not appear to be sustainable without a substantial capital injection or corrective action,” the report says. “The Company appears to be continually fighting fires to manage its day-to-day cash position, is burning cash and appears to have no long-term plan to address debt levels. On both a balance sheet and cash flow basis, the Paramount Group is insolvent.

 

ขอบคุณสำหรับความคิดเห็นของคุณ ความคิดเห็นของคุณจะถูกเผยแพร่หลังจากได้รับการตรวจสอบแล้ว

financialpost Stopped going to the restaurants completely. Food was always fine not amazing, service was consistently surly and inhospitable.

financialpost One of Trudeau's crooked cheerleaders cdnpoli

เราได้สรุปข่าวนี้มาให้อ่านอย่างรวดเร็ว หากสนใจข่าว สามารถอ่านฉบับเต็มได้ที่นี่ อ่านเพิ่มเติม:

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ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

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Order of Canada recipient Mohamad Fakih fights attempt to remove him from the company he foundedParamount Fine Foods founder locked in heated court battle with investors
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Order of Canada recipient Mohamad Fakih fights attempt to remove him from the company he foundedParamount Fine Foods founder locked in heated court battle with investors
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Order of Canada recipient Mohamad Fakih fights attempt to remove him from the company he foundedOrder of Canada recipient Mohamad Fakih fights attempt to remove him from the company he founded — via financialpost Finance financialpost One of Trudeau's crooked cheerleaders cdnpoli financialpost Stopped going to the restaurants completely. Food was always fine not amazing, service was consistently surly and inhospitable.
แหล่ง: nationalpost - 🏆 10. / 80 อ่านเพิ่มเติม »