By Yepoka Yeebo
DNAinfo Reporter/Producer
MANHATTAN — Hundreds of corporate executives and foreign government officials were left in the lurch when an American firm hosting an outsourcing conference on Wednesday went bankrupt, according to news reports.
OutsourceWorld didn't even announce that the Global Sourcing Forum, due to be held at the Times Square Marriott Marquis, was cancelled, the New York Times reported. Participants heard through the rumor mill — after they had spent thousands to come to New York. A visit to the website shows a blank page.
“OutsourceWorld couldn’t then make the payment to the Marriott,” bankruptcy lawyer Philip J. Landau told the Times. “It’s in essence a domino effect.”
He added that OutsourceWorld was looking for bankruptcy protection.
Officials from countries and companies who had planned to network at the event instead had to hastily arrange mini-conferences, including one at a Park Avenue law office.
More than 1,000 people representing 25 countries were at last year's event, which was held at the Jacob K. Javits Convention Center.
“The big question that we have is, there’s a lot of public funds tied up in this,” Kevin Parikh, a panel moderator and the global chief executive of Avasant, a management consulting firm that represents the government of Ghana told the Times. The government of Ghana spent $20,000, backed by the world bank, to co-sponsor the project.
“OutsourceWorld obviously had the sponsorship money of these organizations leading up to the conference. Where did that money go? The money was to be used for the event, or it should have been returned.”
