What happens now to Neo & Bee, legally? I understand that, in some jurisdictions, the creditors can start the legal liquidation of the company and the distribution of its assets, even if the CEO is in Shangri-La and the employees have all quit their jobs. Is that happening in Cyprus?
Not sure about Cyprus, but here the creditors can apply for court-ordered liquidation as long as there is both legal (balance sheet) insolvency as well as commercial insolvency.