Delaware judge freezes Papaya Gaming’s offshore money pipeline

U.S. Bankruptcy Judge Mary F. Walrath of Delaware barred Papaya Gaming from moving assets outside the United States on October 27, finding the company’s chief executive was not credible. In the order, Walrath directed Papaya to stop transferring funds from its U.S. accounts to offshore holdings. She found the company had failed to tell the U.S. District Court in New York about transfers that likely would have changed that court’s decision on restraining its domestic assets, and she described CEO Oriel Bachar’s testimony as “not credible.” Firy Inc., Papaya’s judgment creditor, announced that a U.S.