Former Sun agency wound up

The formal seal has been put on the liquidation of the Sun Microsystems agent formerly known as SolNet in the Wellington High Court.

The formal seal has been put on the liquidation of the Sun Microsystems agent formerly known as SolNet Ltd, in the Wellington High Court.

At a hearing yesterday Master Glendall wound up the former agency, whose name was changed before liquidation to S Resources.

Kerry Price, at law firm Grant Thornton, which is handling the liquidation, says that is quite usual where potential exists to confuse a liquidated company with a similarly-named healthy entity. In this case, SolNet Solutions continues to trade as a software development and services company, having taken on most of the staff of SolNet Holdings, which held the Sun agency.

However, the managing director of SolNet Holdings, Mark Botherway, now at the head of SolNet Solutions, says that the old company went into voluntary liquidation last week.

There has been no finding in respect of a debt allegedly owned by SolNet Holdings to Sun.

Liquidator Richard Simpson says as far as he is concerned Monday's court proceedings will have no effect on the liquidation, which he confirms was put in place by SolNet itself, on Friday. And monies owed by SolNet to Sun will form part of the liquidation settlement.

Simpson cannot predict how long the liquidation proceedings will last; matters are still at a very early stage, he says.

Sun New Zealand manager Rod Severn did not attend yesterday’s hearing and had no comment. Sun Australia chief Jim Hassell is travelling and unavailable today.

Join the newsletter!

Error: Please check your email address.

Tags Solnet

More about SolnetSun Microsystems

Show Comments

Market Place

[]