Reseller News

Excom unsecured creditors owed $2.14m

Excom Education’s New Zealand business owes unsecured creditors $2.147 million, preferential creditors $73,000 and secured creditors $7,000, according to an initial liquidator’s report posted to the Companies Office website.

The company ceased trading here on 13 September and has subsequently appointed liquidators Deloitte.

The liquidators say in the report that the values of assets and liabilities were advised by a number of parties dealing with Excom, with the value of liabilities advised by creditors and company management and to be verified. The shortfall to creditors prior to liquidation costs was unknown.

Among the listed creditors are Excom in Australia, Google, Microsoft in Singapore, Novell and VMware International. The liquidators report notes these creditors may not have filed a claim in the liquidation.

Deloitte has written to creditors with security interests asking for details of debts and securities; secured, listed and valued assets and met with employees and company management.

The IT trainer was established locally in 2007. Its Australian counterpart liquidated in late August.