UBNZ, Delight Grace left to contemplate future of Genesis Research as directors quit

Mon, 12 Nov 2012

The chairman and three other directors of Genesis Research and Development have resigned after concluding they can’t continue to run the company because of a lack of funds and lack of communication from major shareholders UBNZ Funds Management and Delight Grace. “The board believes that it has become necessary for the company to be placed in voluntary liquidation by the shareholders and for any remaining assets to be realised and/or distributed pro rata to shareholders,” chairman Joachim von Roy said in a statement. The board can’t do that wi...

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