美国法院禁止 Papaya Gaming 转移资金，以协助 Skillz 追讨约 7.3 亿美元判决

A US bankruptcy court has barred Papaya Gaming from moving money out of its US bank accounts while Skillz tries to collect the roughly $730m the Solitaire Cash maker owes it.

Judge Mary F. Walrath of the US Bankruptcy Court for the District of Delaware delivered the ruling on October 23 following a three-day hearing, and entered a written order on October 27, according to a statement from Skillz owner Firy.

Papaya can now only make certain routine payments, which must first be funded from its accounts outside the US at 115% of the amount paid. It cannot make any transfers to insiders or affiliates, and must report every payment to Skillz’s lawyers and the US Trustee.

Since 2021, between 85% and 97% of Papaya’s monthly revenue has come from US players, and in the 12 months before the order, an average of around $30m a month left its US accounts.

The court found that in the months before the false advertising trial in April, Papaya moved more than $70m from a US bank account to accounts in Israel without telling the New York court, which was weighing whether to freeze its assets at the time. It also found that CEO Oriel Bachar was “not credible” in his testimony about the company’s cash transfers, and raised concerns about him acting as Papaya’s foreign representative.

The ruling came as Walrath considered Papaya’s request to have its Israeli insolvency proceedings recognised in the US. She recognised the Israeli case as the main proceeding for Papaya’s Israeli parent company, but granted only “non-main” recognition for its US subsidiary, finding that its centre of main interests is in the US.

Papaya was ordered to pay Skillz $719m back in July after competitive gaming outfit Skillz, a subsidiary of Firy, won its false advertising case. It was a significantly higher figure than the $420m a jury awarded in April.

Papaya then turned to the Israeli courts, proposing to repay creditors from future profits. A Tel Aviv court refused to put that plan to a vote in August, saying it needed more funding behind it.

Papaya’s revised repayment proposal is now due to go to a creditor vote on November 8, and the Israeli court’s stay on collection expires on November 25. The Delaware restrictions stay in place until the Delaware court rules on any arrangement approved in Israel.

A Papaya valuation expert put the company’s equity at around $1.29bn as of August 31, according to a filing made in Israel last month.