Optus reseller Yatango Mobile Australia could owe millions

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Optus reseller Yatango Mobile Australia could owe millions

Optus reseller Yatango Mobile Australia could owe as much as $7.7 million, as two related Yatango companies also fall into administration.

Approximately $2.1 million is being claimed by Optus Billing Services and $3.7 million by Yatango Mobile, among other creditors.

The directors are considering a deed of company proposal. There has also been interest in the company's client data assets. Optus continues to provide services to Yatango customers, an Optus spokesperson confirmed.

Meanwhile, administrators were also appointed to Yatango Mobile and Yatango Holdings on 20 October, three weeks after Yatango Mobile Australia went into administration. Mark Hutchins and Jason Tang of Cor Cordis Chartered Accountants are the administrators and the first meeting of creditors is scheduled for 30 October.

Yatango Mobile supplied the platform, employees, and operational services to Yatango Mobile Australia and also lent it money, according to administrators.

The collapse follows a failed reverse-listing attempt by Yatango Pty Ltd with gold explorer Latitude Consolidated this year.

As well as allowing customers to earn “Y Points” by referring friends, Yatango Mobile Australia also lets users spend points on the Yatango Shopping site, which lists gadgets, shoes and makeup.

CRN contacted Yatango but did not receive a reponse by the time of publication. The adminstrator declined to comment.

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