“The director advised the company was placed into liquidation due to the Covid-19 pandemic and the company’s main contractor cancelling the contract on a short notice,” the liquidator’s first report said.
Zhang told the Herald the software firm had been inactive for around 18 months by the time of his appointment.
The only significant potential asset is a shareholder current account with $244,663 overdrawn; Zhang says this collectable relates to Lynds as a deceased shareholder. The liquidator is still in the process of assessing if Lynds has a deceased estate, and if so if funds can potentially be recovered from it.
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The estimated total owing is $894,624, with Inland Revenue yet to submit its claim….
