EnStor assets sold
- 31 May, 2006 16:23
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The assets of failed storage integrator, EnStor, have been acquired by New Zealand outfit, Storage Dynamics. The news comes as liquidators commence investigations into whether the company was trading while insolvent.
Chartered accountants, RSM Bird Cameron Partners, were appointed administrators on May 5. Administrator, Peter Marsden, said it had since accepted the role of liquidators after creditors put the company into liquidation on May 30.
Marsden said negotiations to sell EnStor's assets had already started with Storage Dynamics prior to its appointment as administrators. Storage Dynamics is a wholly-owned subsidiary of tape repairer, Connexion Point Group, which is based in NZ.
"The directors had started the sale process with a select group of suitors who wanted to acquire this as quickly as possible," he said. Marsden said it was now investigating a wide range of issues relating to the history of the company and its demise. This could take several months, he said, depending on whether it initiated public proceedings against EnStor's directors.
He refused to comment on whether the company was trading while insolvent.
Connexion Point Australia general manager and director, Dave Davoren, said the new Sydney-based Storage Dynamics business would be overseen by Connexion Point Group managing director, Dave O'Connor. Davoren's son and former EnStor employee, Tim Davoren, would assume the business practice manager role.
The company had acquired all of EnStor's assets, ranging from servers and desks to its intellectual property. Dave Davoren said it would establish a boutique Sydney-based consultancy, similar in scope to EnStor. It would also consider applying for a storage support contract with EnStor's former major customer, Dell.
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