What’s at stake: Venture capital company Punakaiki Fund is trying to liquidate EverEdge Global over money it says is owed for shares in the intangible assets company.
The background: Punakaiki Fund sold its shares in the company for a loss in 2020, involving an upfront cash payment and a series of future payments. That included a trigger payment if control of EverEdge changed, which it did last year.
The players: Punakaiki Fund, EverEdge Global, Meyzer360, High Court at Auckland.
Venture capital company Punakaiki Fund has filed a notice of proceeding to place intangible assets specialist EverEdge Global into liquidation over an unpaid debt.
The move follows Punakaiki last month serving a statutory demand on the company for payment under the Companies Act.
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Key points
What’s at stake: Venture capital company Punakaiki Fund is trying to liquidate EverEdge Global over money it says is owed for shares in the intangible assets company.
The background: Punakaiki Fund sold its shares in the company for a loss in 2020, involving an upfront cash payment and a series of future payments. That included a trigger payment if control of EverEdge changed, which it did last year.
The players: Punakaiki Fund, EverEdge Global, Meyzer360, High Court at Auckland.
