Insolvency specialists Dye and Company have been appointed as liquidators for IT education provider Excom Education.
According to documents filed with the Australian Securities and Investment Commission (ASIC) today, Roger Grant, Victor Dye and Nicholas Giasoumi of Melbourne-based Dye & Co were appointed liquidators after a meeting in which the two directors and founders of Excom, Sydney-based Graeme Newey and Melbourne-based Paul Koukounaras, agreed to wind up the company.
The Commonwealth Bank of Australia was listed as a chargee (mortgagee) of the company. Also listed was CBFC Ltd, a fleet car financing company wholly owned by the CBA.
Excom closed its doors to students early this morning. The company's management has informed vendor partners and staff, but at this stage has not returned calls from reporters.
Rival training companies including Dimension Data Learning Solutions and Advanced Training have offered students opportunities to finish courses at their institutions.
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Issue: 347 | March 2016