Meta Health, 5Digital reach $136.8k settlement with former executives

The sum will be paid in nine tranches starting from September.

Meta Health Limited has announced that the company and 5Digital Pte. Ltd. have entered into a settlement agreement with former executives Vasanthan Metupalle and Jagannathan Padmaja Sakthi in relation to ongoing bankruptcy proceedings.

Metupalle, the former Chief Medical Officer of 5Digital, and Sakthi, the former director of GainHealth, are required to jointly or severally pay $136,831.82 to 5Digital in nine tranches starting from September.

The settlement sum was negotiated after considering a disputed pre-existing payable of $200,000 owed by 5Digital to the former executives.

Following the receipt of the first tranche, 5Digital will file a notice of discontinuance of its bankruptcy claim against both parties, with no order as to costs, to which they have consented.

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