ORANGE: Following an approach from company directors, Graeme Beattie, Partner at Worrells was appointed as Voluntary Administration of KNet Technology Pty Ltd, the main trading entity, to review the company’s position and options available. During period of administration, the company ceased to trade and Mr Beattie was appointed liquidator on 2 December 2019.
Related by common directors, meetings for both Knet Technology Pty Ltd and Knet Enterprises Pty Ltd were held on 28 October 2019. Mr Beattie was appointed as Liquidator to KNet Enterprises at the 28 October meeting for this entity which marked the cessation of this company’s trading.
Mr Beattie said “as per our obligations under the Corporations Act and standard procedure, we are currently conducting investigations into the affairs of both companies and will report to creditors as to the outcome of those investigations including the likelihood of a return to creditors.”
“Staff entitlements are a priority and my team and I have been communicating with those affected.”