Wynyard Group and subsidiary placed into liquidation

Creditors have placed failed crime-fighting software company Wynyard Group into liquidation, the company announced today. 

KordaMentha partners Grant Graham and Neale Jackson, who were running the voluntary administration, of Wynyard have been appointed liquidators of the company and subsidiary Wynyard (NZ) Limited. The liquidators will provide further reports to creditors as required under the Companies Act and noted the act prohibits any transfer of shares in Wynyard without the approval of the court.

Christchurch-based Wynyard went into voluntary administration in October last year after failing to secure emergency funds to keep it going from UK lender Skipton Building Society.

It listed on the NZX in 2013, with investors paying $1.15 a share. The stock closed as high as $3.12 in March 2014 but shares were worth just 21.5 cents when the company eventually went under.

BusinessDesk.co.nz

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