Creditors of the collapsed Australian tech company Metigy have appointed Cathro & Partners as its liquidator, continuing their relationship with the boutique restructuring consultancy.

In July, Metigy left its 75 staff and the technology scene “shell-shocked” when it collapsed owing $32 million to creditors (including around $2.5 million to employees).

The sydney-based company, which offered an artificial intelligence platform to small business for marketing purposes, had during its eight years of life raised more than $20 million from various investors.

liquidation of tech company Metigy” src=”https://www.consultancy.com.au/illustrations/news/detail/2022-10-11-122430120-Cathro-_-Partners-overseeing-liquidation-of-tech-company-Metigy.jpg” alt=”Cathro & Partners overseeing liquidation of tech company Metigy” width=”900″ height=”334″/>

Late July, shortly after the voluntary administration process was confirmed, investigators and creditors hired Cathro & Partners to assess the state of the business, and explore the possibility of its sale.

With no concrete interest for the business and its assets, in August Metigy was placed into administration, with law firm Allens and Cathro & Partners overseeing the process. Their damning report found that the company had been trading insolvent for a “significant period of time”, since at least November 14 last year.

The report also uncovered that Metigy’s sole director used company assets to secure a $7.7 million loan from the firm to…