Creditors of the failed technology company Maclean Computing are heading for a showdown with liquidator Waterstone Insolvency at a meeting scheduled for Tuesday August 14.
A letter sent by Westcon to Waterstone on July 20, which the other creditors were copied into, has been leaked to Computerworld.
In it the Cisco and VMWare distributor alleges that Waterstone has “failed” its obligations to the creditors, and asks the liquidator to clarify the timeline and decision making process that lead to the sale of the assets of Maclean Computing Ltd (MCL) to Maclean Technology Ltd (MTL)
The letter claims that Westcon will seek damages against the Waterstone liquidator Damien Grant.
A source close to Maclean Technology has told Computerworld
that Westcon is being “aggressive” and attempting to rile up the other creditors because it potentially stands to lose almost $200,000.
understands that Westcon received that amount as payment towards a $500,000 debt owed by MCL shortly before it went into liquidation.
Liquidators are able to claw back preferential payments made shortly before a company goes into liquidation, a measure which is designed to prevent liquidated companies from unloading assets into shell companies and short changing creditors.
The source says several other creditors are in a similar situation. Computerworld
understands that Waterstone is seeking to claw back these payments also, to maximise the amount paid back to the bank, IRD, and MCL staff.
Dave Rosenberg, general manager of Westcon, says the company will refrain from making public statements for the time being.
Chris Maclean, CEO of MTL, and Damien Grant also say they will not make public statements.
Simon Dalton, a partner at insolvency practioners Gerry Rea, has previously told Computerworld
that creditors can take the liquidator to the High Court where a judge would decide whether the initial sale to MTL would be reversed.
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For more on the Maclean Computing Liquidation:
Maclean Computing goes into liquidation
Maclean Computing: Codeblue to ride to the rescue?
New company rises from Maclean Computing liquidation
Liquidation experts speak out on Maclean deal