FAS' media-rights partner begins bankruptcy process

MP & Silva's Singapore office has been cleared out. The company's accounts have been frozen, its staff contracts terminated, and all its physical assets auctioned off for some $22,000.
MP & Silva's Singapore office has been cleared out. The company's accounts have been frozen, its staff contracts terminated, and all its physical assets auctioned off for some $22,000.ST PHOTO: SHAMIR OSMAN

The media agency that gave the Football Association of Singapore (FAS) its biggest partnership deal - a $25-million, six-year exclusive rights agreement - in 2015 is set to wind up, with doubts now hanging over the matter of recovering some $3 million in unpaid rights fees.

MP & Silva (MPS) has witnessed its London headquarters declared insolvent by the United Kingdom's High Court of Justice, and its Singapore office is now set to follow on the same path.

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A version of this article appeared in the print edition of The Sunday Times on December 30, 2018, with the headline 'FAS' media-rights partner begins bankruptcy process'. Print Edition | Subscribe