Former IT products distributor Sealcorp was liquidated in the Auckland High Court yesterday, following a petition by creditor SGI.
The application was supported by Novell, another creditor, which is owed about $240,000 by its former agent.
Sealcorp, which is a subsidiary of Brocker Group, ceased trading early this year, Brocker saying there was no margin left in selling computer products.
SGI and Novell are two of several creditors which Brocker had offered an informal repayment scheme to based on return of unsold goods and the sale of Sealcorp’s assets. But Brocker’s finance head, Grant Hope, told Computerworld at the start of the month that there would be insufficient funds to meet all Sealcorp’s debts.