Israeli court tells Papaya to bolster debt plan to repay USD 730 million to Firy unit Skillz
FIRY•Dispute centers on U.S. judgment
The dispute centers on a U.S. judgment ordering Papaya to pay Skillz USD 719 million in disgorgement, with about USD 10 million in fees.
Arrangement manager appointed for revised plan
The court appointed arrangement manager Gil Oren to work on a revised plan during a 45-day pause on collection efforts from Aug. 3.
Court rejects vote request on Papaya debt-settlement plan
An Israeli court rejected Papaya Gaming’s request to hold creditor votes on its debt-settlement plan tied to Skillz, a Firy unit.
The judge said the proposal must add funding beyond operating profits, citing a lack of security or equity support.
