Asian production companies are being kept in suspense by a liquidation of the now defunct streaming service Hooq that is taking a painfully long time to execute. Further, many former staff remain u…
that the organization had been kept in the dark, and that the media regulator learned of the announcement at the same time as everyone else. Other sources have toldIt is unclear what proportion of Hooq’s management knew the ax was falling. Or when they knew it.
Nevertheless, one production company explained that Hooq had missed two of its three stage payments. That points to a problem that did not simply happen on the fatal day Singtel threw in the towel and handed over the business to the Nicky Tan company of temporary liquidators. Without the dismantling of the Mauritius unit, the Singapore liquidators only have a limited amount of assets to sell. And while several Asian producers have said they await a list that would show matters such as titles, attachments, payment status and ownership claims, Hooq’s liquidators may never disclose one. Instead they have published an advertisement inviting creditors contact them and make their claims.
. “We would have a good case to get back the IP, but at the cost of several hundreds of thousands of dollars, it might not be worthwhile.”
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