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- The Company operated the call centre for 2 of Sydney’s leading taxi companies.
- A dispute arose in the joint venture between the parties over a number of issues. The irreconcilable differences required external intervention.
- The main dispute between the parties related to ownership of each of the party’s telephone numbers.
- On review by the Provisional Liquidator, the Company was insolvent.
- It was apparent that the businesses of each of the joint ventures were viable if separated.
- The Provisional Liquidator / Liquidator traded the 24/7 business for a period of 6-7 weeks to allow the transition of the businesses back to each of the parties with minimal business interruption
- A resolution was reached in relation to the ownership / transfer of the parties telephone numbers.
- Each joint venture party retained their telephone numbers.
- Each respective business retained their business.
- The employee entitlements were paid by FEG.
- The priority creditors will receive a healthy dividend.
- The joint venture parties retained their business without interruption.
- The taxi industry was not affected as the parties were able to continue to trade.
- The Employees were paid their entitlements.