The Working Capital Forum
  • Home
  • Events
  • Latest
  • About
  • Login / Register
  • Working Capital Award Winners 2022
  • Home
  • Events
  • Latest
  • About
  • Login / Register
  • Working Capital Award Winners 2022
Search


​LATEST

Marco Polo brings in liquidators as Bank of America talks fail

23/2/2023

 
Picture
Marco Polo, once a front-runner in the race to move trade finance onto distributed ledger technology, has asked for liquidators to be appointed after running out of cash.  

The company, based in Ireland and with subsidiaries in the UK, the US and Singapore, had liabilities of more than €5.2m, exceeding the total value of assets by €2.5m. Ireland's tax authority is the biggest creditor, owed €2.6m.

The company said it had been in talks with Bank of America about a technology partnership, but late last month, Bank of America advised the company that they could not proceed with the commitment, which would have generated $12m in annual revenue. 

Liquidators Interpath Advisory now aim to sell all or parts of the business as a going concern.

© Adaugeo Media Ltd

Comments are closed.
WORKING CAPITAL FORUM
FEATURES
NEWS
EVENTS
AWARDS
CONTACT
​admin@workingcapitalforum.com
© ADAUGEO MEDIA LTD 2023
​​PRIVACY POLICY
  • Home
  • Events
  • Latest
  • About
  • Login / Register
  • Working Capital Award Winners 2022