An adviser probing the alleged accounting fraud at Indonesian agritech company eFishery recommended that investors make a decision on whether to liquidate or restructure the company as soon as this month, in light of the rapid unraveling of the high-profile startup, according to a document reviewed by Bloomberg News.
In a few weeks, shareholders should vote on whether to wind down, restructure, or sell the company entirely or partially, according to a letter of engagement from FTI Consulting Singapore Pte, the adviser hired by eFishery’s board. Meanwhile, a trade union organized by staff is pushing for the company to cancel mass job-cut plans and resume its business.
