PC Power ‘deficiency’ put at $334,000

PC Power liquidator Stuart Robertson has disclosed to creditors that the company has an estimated "deficiency as regards unsecured creditors" of $334,000. Previously, a group of 13 creditors who have banded together to discuss opportunities in respect of what's owed to them had thought total debts were around $150,000. The group includes Renaissance, The Microsource, Electronic Resources, NJS and MEC. They say they are determined to do whatever it takes to recover the debt. Group spokesman Tony Hickmore, of Computer Connection, says he believes the liquidator is aware the group wants him removed and that he is trying to secure his position by providing some information now.

PC Power liquidator Stuart Robertson has disclosed to creditors that the company has an estimated “deficiency as regards unsecured creditors” of $334,000.

Previously, a group of 13 creditors who have banded together to discuss opportunities in respect of what’s owed to them had thought total debts were around $150,000. The group includes Renaissance, The Microsource, Electronic Resources, NJS and MEC.

They say they are determined to do whatever it takes to recover the debt. Group spokesman Tony Hickmore, of Computer Connection, says he believes the liquidator is aware the group wants him removed and that he is trying to secure his position by providing some information now.

“He was appointed by the debenture holders.” They are PC Power directors Graham Caspersonn and Gerard de Silva, who put the company into receivership on August 8. However, they have continued to trade in Newmarket and North Shore premises under different company names.

Robertson notes in a disclaimer of liability that the information in the statement of affairs was supplied by the company and that he had not verified it. According to Hickmore, the statement is not clear and many numbers are missing.

In a covering letter, the liquidator says he believes there is some concern in the market about the liquidation.

“... as is often the case when the bank is about to appoint a receiver the guarantors [of a debenture] choose to purchase the debenture and appoint a receiver themselves. I believe that has happened in this case and on the face of it there is nothing automatically sinister in that.” Hickmore says he is not keen to see the issue drag on.

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