Vietnamese Mogul Holding Tech Startup Funding Hostage, Suit Says

A Quoori Inc. co-founder asked Delaware’s Chancery Court to appoint a custodian or receiver Tuesday, saying the tech startup’s other 50% owner—a “notorious” Vietnamese industrialist—has deadlocked the company by holding its funding hostage while he demands a larger stake.

Quoori was founded in 2018 by Silicon Valley veteran Andreas Poliza and Vu Quang Hoi, a Vietnamese financier and real estate mogul who heads the multinational Bitexco Group, according to Poliza’s petition. Its mission was to develop smoother smartphone operating systems.

When they started the company, Vu allegedly agreed to invest $20 million to $100 million through a venture capital firm ...