A court has ordered the appointment of a Qyral Receiver.

The order follows an April 10th emergency ex-parte application filed by defendant Darius Banasik, and an April 12th proposed order filed by plaintiffs Hanieh Sigari and Qyral LLC.

In granting the order, the court noted it had ordered Banasik (right) and Sigari to “meet and confer and file a proposed order by 3 p.m. on April 12, 2024.”

Despite the order, Sigari’s attorney indicated to the court he’d

reached out several times to Defendant’s counsel and did not receive a response.

Nonetheless the court went ahead and ordered appointment of the Receiver on April 12th.

As per the terms of the appointment order, the Qyral Receiver will:

  1. receive, manager, and hold funds for the benefit of Qyral by third-parties;
  2. maintain, coordinate, and pay invoices to Qyral’s vendors;
  3. manage and disburse Qyral’s remittances;
  4. negotiate and compromise terms with vendors on Qyral’s behalf;
  5. manage Qyral’s online accounts, domain name and email system;
  6. adjust, fix, or set compensation for Qyral personnel, including Hanieh Sigari

The Qyral Receiver is also empowered to undertake and future agreed stipulations between Banasik and Sigari.

Looking forward, for now Qyral is in a much stabler position than it was with Sigari and Banasik squabbling over company ownership.

The future of Qyral as a company and what it will look like hinges on the outcome of proceedings initiated by Sigari, the final outcome of which remains pending.