Evesham creditors have taken legal advice

Legal channels

Nitin Joshi, the founder and director of ChannelMoney, a business advisory organisation for the IT channel that represents many of the creditors of pre-administration Evesham, told HEXUS.channel that their interest in Evesham still concerns the events of early August 2007, when Evesham went into administration.

In response to the news that PCC Technology Ltd was looking to divest its interest in Evesham, he said: “To a large extent this is a non-story [for the creditors]. My clients, who are very large trade creditors of the first Evesham, have wide ranging issues, most of which are unresolved. It is widely believed that asset realisations should have been greater. As it now stands, I do not anticipate any return to these clients.”

Joshi warned that they weren’t giving up that easily, however. “We have taken legal advice and this is still very much a live issue,” he said.

Evesham went into administration on 3^rd August 2007. Three press releases were issued to explain the situation at that time:

Evesham restructures to focus on Web and Channel Sales after closure of Government HCI Scheme – 3^rd August 2007

PCC Technology agrees $22m funding for Evesham restructure – 3^rd August 2007

Evesham Technology Statement – 6^th August 2007