The Federal Court of Australia in a judgment handed down 24 September 2014 found Hong Kong based Parazelsus Limited, renamed Alchemy Participations at the end of 2013, guilty of brech of contract regarding a sholder structure and wrongful termination of a service agreement. Alchemy Participations has been ordered by the court to pay $1.2 million plus costs. A letter of demand was issued but payment was not received by the date specified in same. Hong Kong lawyers acting for Maylord have been instructed to immediatly pursue recovery action, including appointment of an administrator if necessary.
Parazelsus was foundered by Peter Zuellig, the grandson of the founder of Zuellig Group, now a $10 billion company operating throughout Asia
Maylord equity management Pty Ltd
Maylord has been active for 15 years in initiating and completing private equity transactions traditionally involving M & A activity. It is Australian based and has managed transactions in Fast Food, building services and facilities management.