Vewd litigation update
Further to our announcement of January 20, 2021, following agreement between MFC and Otello to postpone the hearing listed for February 26, 2021 until 15 or 16 March 2021 to allow further time for MFC to seek refinancing to raise funds to enable it to pay in full the sums due to Otello, the English High Court has ordered that the appointment of a receiver (or alternatively a special committee of the board of Last Lion Holdings Limited tasked with selling the company or raising finance) should take effect on 22 March 2021 if Otello has not be paid the sums due to it by 19 March 2021.