Maclean Computing Limited (MCL), liquidated last month, told unsecured creditors they were unlikely to recover any money from the failed company.
The company did insist however that staff would be paid in full by the end of the week, but made no promises to suppliers, vendors, partners and other unsecured creditors.
Liquidators Waterstone Insolvency said MCL owed $953,000 in total, with 80% of the $419,000 owed to staff already paid with all but three unnamed employers paid so far.
There is an $18,000 cap on staff payments, with liquidators considering anything owed beyond this figure to be unsecured – the sum is $40,000.
MCL was placed into liquidation last month with its assets bought by Maclean Technology Limited (MTL), with liquidators investigating whether MCL can retrieve around $700,000 worth of payments to unsecured creditors during the two years prior to their liquidation.
A Computerworld source revealed that Waterstone will attempt to retrieve $200,000 from Westcon Group.
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