Cellnet served with $1.2m recovery claim

Cellnet served with $1.2m recovery claim

Flash memory and mobile phone accessory distributor Cellnet has disclosed it has been served with a summons by the liquidators of Leading Solutions, seeking recovery of $1.2 million.

The liquidators claim that the funds were given to Cellnet as an unfair preference in the six months leading up to Leading Solutions entering administration in October 2009.

In a statement, Cellnet said it denies any liability under the claim, and that it planned to “vigorously defend it.” It also has a debtors insurance policy.

Cellnet shares grew 2.8% in Tuesday's trading to $0.370.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags cellnetLeading Solutionscourt actionvoluntary administrationASX:CLT

More about Cellnet GroupLeading Solutions

Show Comments