Sun v S Resources put to bed

In a two-minute hearing in the Wellington High Court yesterday, Master Gendall and a lawyer for Sun Microsystems disposed of the last vestige of Sun's action to liquidate its erstwhile agent, SolNet Ltd.

In a two-minute hearing in the Wellington High Court yesterday, Master Gendall and a lawyer for Sun Microsystems disposed of the last vestige of Sun’s action to liquidate its erstwhile agent, SolNet Ltd.

Sun’s representative withdrew her client’s petition on the grounds that the company had already been put into liquidation and this had been approved by a shareholders' meeting. A creditor’s meeting, last week, voted to substitute accountancy Ferrier Hodgson staff as liquidators in place of those appointed by the company.

Attempts to contact the liquidators yesterday and this morning were unsuccessful, but it is likely to be a while yet before a first report emerges.

Westpac, which intimated at the creditors’ meeting that it and Ferrier would subject S Resources’ affairs to close investigation, has declined comment, referring all questions to the accountants.

Costs of the High Court hearing were awarded to Sun.

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Tags Solnet

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