Wednesday, May 16, 2012

Zenith Infotech Barred from Selling Cloud Assets

I read a disturbing article about Zenith Infotech in Channelnomics by Larry Walsh.

Zenith Infotech, an India company with its U.S. operations headquartered in Warrendale, Penn., is embroiled in a court battle over its $83 million foreign currency convertible bond default last September. Plaintiffs lead by Bank of New York Mellon are seeking full compensation for the bonds, alleging Zenith Infotech is purposely hiding liquid and physical assets to avoid paying the debt.  Read complete article.