News blog
CustomVis
- BY: Andrew Hore |
- POSTED: 12/08/2010 |
The resurgence of laser eye surgery equipment developer CustomVis has proved short lived because it is finding it difficult to collect its debts.
Creditors have issued proceedings against the company and the board has decided that it is best to appoint FRP Advisory as the administrator of CustomVis.
Hawk Investment Holdings, which is owned by recently appointed CustomVis chairman Bob Morton, owns 23.8% of CustomVis and lent the company £303,000 for one year at an interest rate of 10%. This loan is secured by a fixed and floating charge over the assets of the company.
CustomVis had bought the main technology assets of its Australian subsidiary CLVR from its administrator. Morton has appointed former Clarity Commerce Solutions chairman John O’Hara as chief executive.
The shares were suspended on 19 April at 0.93p each, which valued CustomVis at £1.79m.
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