U.S. Federal Court Orders Papaya to Stop Moving Assets Outside the United States
The U.S. Bankruptcy Court for the District of Delaware prohibited transfers from the U.S. bank accounts of Papaya Gaming Ltd. and its U.S. subsidiary. Papaya owes Skillz Platform Inc., a Firy subsidiary, a judgment of approximately $730 million; the order allows certain scheduled ordinary transfers.
Why it matters — The order concerns collection of a substantial judgment owed to a wholly owned Firy subsidiary.