Core Viewpoint - Mawson Infrastructure Group, Inc. has clarified that it has not filed for voluntary Chapter 11 bankruptcy, contrary to earlier media reports, but is facing an involuntary Chapter 11 petition filed by entities in Australia [1][2]. Group 1: Legal Proceedings - The involuntary Chapter 11 petition was filed by W Capital Advisors Pty Ltd and Marshall Investments MIG Pty Ltd against Mawson, although the company has not yet been formally served [2]. - Mawson's Board of Directors plans to vigorously defend against the involuntary petition if served, and the company intends to continue its operations as usual [2]. - Mawson has expressed concerns regarding the relationship between W Capital Advisors and James Manning, a former board director, and has not received satisfactory responses to these concerns [3]. Group 2: Investigations and Complaints - James Manning is under investigation by Mawson's Audit Committee for his dealings with W Capital Advisors, including ongoing litigation with Vertua Property Inc. related to self-dealing and breach of contract [4]. - Mawson has filed a complaint against Vertua for breach of lease and tortious interference, seeking reinstatement of the lease and damages [6]. - The company believes that the legal actions taken by W Capital Advisors and Marshall Investments are attempts to gain leverage in ongoing disputes [7]. Group 3: Business Operations - Mawson operates digital infrastructure platforms focused on AI, high-performance computing, and digital assets, and has a strategy to utilize carbon-free energy sources [9]. - The company has indicated a potential exit from its entities and holdings in Australia, as it currently has no operating sites or assets in that region [8].
Mawson Infrastructure Group Inc. Responds to Recent Report