Vivid Networks, the company linked with Orcon part-owner Warren Hurst, avoided liquidation in Auckland’s High Court yesterday.
According to NBR reports, the Inland Revenue had sought to liquidate the company, which owns a 48% stake in the Internet Service Provider.
A business born out of Vivid Solutions, NBR reports that Vivid Networks no longer “has staff or an ongoing focus”, indirect quotes which were attributed to Hurst in the article.
Following Kordia’s sale of Orcon to a buyer group of Kiwi businesspeople headed by Hurst in April last year, NBR reports that Hurst “says the court action relates to the Vivid Networks pre-Orcon days.”
With Vivid Network’s lawyer Daphne Wong requesting an adjournment for the case in the Auckland High Court due to the submission of another proposal, and IRD lawyer Cloete Van der Merwe not opposing, the hearing could be delayed until next month.
Yet Judge Roger Bell issued a stark warning, reminding Wong that the company had previously been summoned to court in May also.
“If you don’t succeed this time your client may have some difficulties,” Judge Bell told Wong, according to NBR.
As reported by Techday during the past few months, Orcon is once again on the market, being touted to numerous bidders across the country.