PSG (Paris-Saint Germain) succeeded in litigation to declare Cbet‘s parent company bankrupt in a Curaçao court, leading to its dissolution.
According to a document seen by NEXT.io, the Court of the First Instance in Curaçao declared the holding company of Cbet, AK Global NV, bankrupt on January 23. The court ruled that AK Global NV had failed to pay its liabilities.
It follows PSG, which recently signed a Latin American regional sponsorship deal with Cbet. PSG filed the bankruptcy claim in November of the previous year. Local media first reported the claim the following month.
The judgment stated that the facts in the application and the hearing in chambers showed the defendant had left numerous debts unpaid. It also demonstrated circumstances indicating that the defendant had ceased paying.
Curaçao bankruptcy law allows courts to declare businesses bankrupt. This can happen if they fail to pay liabilities, which may be unrelated to their actual financial resources.
NEXT.io sources claim PSG representatives recently approached Cbet at their stand in a Brazilian trade show. They were looking for the owner of the company regarding unpaid invoices.
No lawyer appeared on behalf of AK Global NV, despite the court’s order to do so.
In December 2022, the Ligue 1 football club signed a Latin American regional sponsorship agreement with Cbet. The agreement was for a one-season contract.
Marc Armstrong, director of partnerships at PSG, said at the time that they were delighted. He mentioned that they welcomed Cbet as a regional partner of Paris Saint-Germain.
Armstrong also added that Cbet is an ambitious player in online betting. He also mentioned that Cbet is one of the most trusted companies in the world in this sector.
The Commercial Register of the Curaçao Chamber of Commerce & Industry shows that the court terminated the registration of AK Global NV. This occurred on the day of the judgment.
