-We have reasonable grounds to believe that there is no likelihood that shareholders in the company will receive any distribution in the course of the winding up of the company," joint liquidators Peter Walker and Steven Sherman said in a declaration.
This is the latest installation of the One.Tel saga. In March, public examinations were held by the liquidators to try and find out why the telco failed. The Australian Securities and Investments Commission (ASIC) also undertook investigations into the company late last year.
A spokesperson from ASIC confirmed that it was scheduled to return to the courtroom on September 9, for another directions hearing against former One.Tel managing directors Jodee Rich and Bradley Keeling, former finance director Mark Silbermann, and former chairman John Greeves.
The liquidators have been conatacted for comment but failed to repsond before going to press.
