van Eyk creditors back liquidation

The creditors of troubled research house van Eyk have voted to liquidate the company, as negotiations for the sale of its business assets are underway.

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by Aleks Vickovich - October 22, 2014 0 comments

A spokesperson for appointed administrator Moore Stephens has confirmed to ifa that the creditors have voted in favour of a motion to liquidate at a meeting held today.

The liquidation is not expected to impact the sales being separately negotiated for the company’s Australian and New Zealand business assets.

The spokesperson also revealed that term sheets have been signed by prospective purchasers of the assets, though confidentiality agreements hinder the announcement of the Australian bidder at this stage.

However, Lonsec Fiscal has confirmed it is “very interested” in van Eyk Research’s Australian assets, especially its iRate subscription service.

The entry into liquidation comes several months after ifa sister title InvestorDaily first broke the news that van Eyk had announced temporary suspensions on Blueprint fund redemptions following the discovery of liquidity concerns.

Moore Stephens will continue its investigation into van Eyk during the liquidation process.