Massive Labs - Case Update

In August, we wrote about how Kate Conneely and Rahul Goyal of KordaMentha, the administrators of software development company Massive Labs, were recommending that the company be wound up after a potential recapitalisation effort proved unsuccessful. It looked like all hope had not been lost after we provided our update, as the second meeting of creditors was adjourned to allow further time for discussions with a party potentially interested in a recapitalisation of the company. Unfortunately, despite multiple meetings and extensive discussions between the administrators and the interested party following the adjournment of the meeting, the interested party declined to enter into a binding agreement. As a result, the company’s creditors voted to wind up the company at the reconvened second meeting held on 19 October. Kate Conneely and David Osborne of KordaMentha are the liquidators.