Overview

• The petition filed on September 18 rejects Eagle’s conditions, including mandatory participation of independent director Christopher Mallon and suspension of any acts taken without him.
• Eagle, which holds 90% of the SAF, maintains a court action seeking to nullify decisions from meetings held on July 17.
• SAF lawyers acknowledged that negotiations between John Textor and his partners remain unresolved.
• A September 12 General Assembly resolved not to implement the July 17 measures, including a planned transfer of assets to a Cayman Islands entity.
• Eagle appointed Mallon with executive powers, with support from CEO Michael Gerlinger and Michele Kang, to oversee Textor’s management.