With the debt of €5.2m Marco Polo Network Operations declared as insolvent!
Marco Polo Network Operations is the Irish company and appointed administrators as per the declaration of court ruling that declared the company to be insolvent on 22nd Feb 2023. Marco Polo Network proposed to close the strategic deal of $12 million with Bank of America.
The court heard that Marco Polo Network possesses a debt of €5.2 million and their current liabilities are more than €2.5 million. It is also claimed by Marco Polo Network that the significant investment for making a product to replace the internal account automation of Bank of America. It is a crucial step for investment in Bank of America, as heard by a court ruling.
After the collapse of we.trade after 9 months, along with Serai, HSBC is also backing the trade platform which is blockchain-based, serious questions are also raised around commercial viability.
