Melbourne-based IT consultancy Comsys has had its assets stripped and will be auctioned off on GraysOnline.
Comsys was placed in voluntary administration on October 30, with CRS Warner Krugel appointed as the liquidator on the same day.
The liquidtor told CRN the company's financial problems has meant the integrator can no longer continue to operate.
Peter Malone, manager at CRS Warner Krugel, said the company's sole director, Shane Ross, had approached Comsys vendor partner Dell to ask if it could continue fulfilling contracts whilst in liquidation - an offer Dell declined being "uncomfortable" with the company's financial position.
A media representative from Dell told CRN it couldn't comment on the financial status of Comsys.
Ross, Malone said, had complicated the situation further by deciding to join the Army.
"[Joining the army] raised the problem of the company's sole director residing in a different state," he said.
Malone claimed Comsys owed about $50,000 to employees; $507,000 was owed to unsecured creditors, (part of that amount was owed to Ross); and $220,000 was owed to unrelated parties.
According to Malone, the value of Comsys' assets won't be known until the GraysOnline auction concluded.
However there was still a "reasonable amount of money" - about $100,000 - in the company's cash reserves, he said.
"This is good news for employees because they will be paid in full," Malone said.
Comsys Australia was formed in 1999 and once had national coverage of Australia, New Zealand and Asia Pacific.
Besides Dell, the integrator had partnerships with EMC, Cisco, Microsoft, Symantec, Citrix, CommVault and IBM, among others.
Issue: 277 | March, 2010