Sky Communications enters administration owing over $3.5M
- 18 June, 2018 12:00
Telecommunications provider Sky Communications has entered administration with more than $3.5 million in debts.
Sky Communications (SkyComms) was a subsidiary of New Zealand-headquartered Electra. According to the company's website, SkyComms had a turnover of $25 million and claimed Vodafone, Alcatel-Lucent and Huawei as customers, among other names.
However the business was sold four years ago, according to SkyComms New Zealand.
SkyComms designs, builds, supplies, project manages and maintains wireless, fibre and copper networks and supply products for network operators.
An application for the winding up of the company was entered by the Australian Taxation Office (ATO) in November 2017.
In February, the Federal Court of Australia appointed Brent Leigh Morgan from Rodgers Reidy as the liquidator.
In a letter to creditors from 23 May, the liquidator informed creditors that the sale for the majority of the company's assets took place on 27 February and was ratified by the Federal Court of Australia in Melbourne on 10 April.
A total of $250,000 was paid for those assets which now belong to a company called Sky Communications Aust, which was registered with the Australian Competition and Investments Commission (ASIC) on February 2018.
The same letter states that at the time the liquidator was appointed the company employed 80 staff, of which only one decided not to move to the new business.
According to the document, the liquidator's initial investigations determined that the company may have been trading insolvent since February 2015.
According to the copy of the minutes of the first meeting of creditors, held on 12 June, the company is now in administration with Morgan appointed the administrator.
Among the company's creditors is Ben Lek, claiming $582,000, who, according to LinkedIn, has been Australian general manager of Sky Communications since 2010.
According to documents lodged with Australia's corporate regulator, Lek is also named as a proxy for Lek Supply Trading, which claims $409,000, and for Sky Communications Aust, which claims $659,000.
The total amount owed to the ATO is $1.9 million.
The administrator had not responds to ARN's request for comment at the time of writing.
The company is still trading from its New South Wales office but it is moving out of the Victorian premises.