Papaya Gaming Implements Strategic Legal Framework to Protect Operations and Stakeholders During Appeal of U.S. Judgment
Company Continues Normal Operations While Establishing Coordinated Payment Arrangement in Israel and U.S.
Papaya Gaming Ltd. (“Papaya” or the “Company”), the pioneering technology company of the multiplayer Skill-Based Tournaments category, today announced that it has taken a proactive and strategic series of legal steps to ensure the continuity of its profitable business operations, its employees, its players, and all of its stakeholders during the appeal of the judgment issued against it in the United States.
The Company has applied to the Tel Aviv-Jaffa District Court for a supervised payment arrangement. In parallel, the Company has commenced an ancillary proceeding in accordance with U.S. laws intended to provide a coordinated legal framework while the appeal is pending. Together, these coordinated proceedings establish a legal framework that preserves the status quo, protects the Company’s ongoing operations, and ensures the orderly management of legal claims during the appeal period.
A Proactive Step to Ensure Longterm Continued Success
