MRS notes claim received relating to MRS Guernsey Ltd
Source - SMW
Directors of Management Resource Solutions (MRS) have provided details of a claim received from the Joint Voluntary Liquidators (JVLs) of MRS Guernsey Ltd, which is a subsidiary of the company that is in voluntary liquidation.
The company has previously notified material issues relating to consulting contracts in Papua New Guinea and New South Wales.
On 30 December 2016 the directors announced that MRS Guernsey Limited (the operating entity of the Papua New Guinea contract) had been placed into voluntary liquidation.
The liquidation of MRS Guernsey was part of the ongoing process of resolving various legacy issues within the MRS Group.
The Directors have received a letter from the JVLs claiming A$3.6 million representing the amount outstanding on the intercompany balance due to MRS Guernsey Limited from the Company.
The JVLs have requested payment of this amount by 19 July 2017. In the event that payment is not made by 19 July the JVLs reserve their right to commence proceedings against the Company to recover funds for the benefit of the stakeholders of MRS Guernsey Limited.