According to the Japanese distributor Ask, Zalman has filed a request for judicial relief at the Court of Seoul on November 3.


The Seoul Court which will now decide the fate of Zalman, which is pretty much a collateral damage in another case where Moneual, suspected of having fraud to get a billion dollars from banks. The court will decide if Zalman will be able to maintain its activity, if a willing buyer want to resume the business, or will it have to liquidate its patents and assets in order to pay off its debts to the bank.

Without waiting, the shares of the company dropped and are no longer trading as a result of the story about fraud. The parent company, Moneual, is suspect in a fraud where it inflated its sales in order to get massive loans from banks that currently adds up to no less than US $1 billion.

Zalman is a well known and recognized brand, but did not have a big impact on the market in recent years. Its solutions have not really evolved and competition has continued to move forward. It is still too early to talk about the fate of Zalman, but we will certainly keep an eye on the situation.




Source: HFR via Le Comptoir du Hardware.