litigation
confidence high
sentiment negative
materiality 0.75
Arbitrator appoints rehabilitative receiver over Reliability Inc. to collect $835K award
RELIABILITY INC
- Supplemental Award dated Oct 10, 2023 appoints receiver to collect $835,156 plus 5.5% interest from Vivos Group.
- Receiver may appoint board members, approve auditor, and approve ordinary course actions; cannot alter board, governance, or stock.
- Receivership term is one year, extendable up to three years with arbitrator approval.
- Award stems from August 2022 arbitration where Reliability and Maslow Media Group prevailed against Vivos entities.