Australian ISP OzEmail yesterday paid more than $1 million to the founders of Voyager New Zealand for money it owed after buying the company in 1997.
Voyager founders John O’Hara and Alistair Stevens sought an order from the High Court this year after OzEmail failed to make any payments for their shareholdings. O’Hara told Computerworld that OzEmail disputed the value placed on the company by Deloitte Touche Tohmatsu.
In August the Auckland High Court awarded O’Hara and Stevens the full amount sought. Before receiving the payment O’Hara and Stevens had obtained a charge over the company's shares on September 21. The High Court charging order which was due to be made absolute on October 9 would have meant that OzEmail would have forfeited its ownership of the ISP.
Alistair Stevens says OzEmail, O’Hara and himself are continuing to discuss the matter of court costs.