Deloitte Touche Tohmatsu has been appointed as administrators of the telecommunications company.
Open Tel announced to the Australian Stock Exchange (ASX) on Friday that the company was being placed in voluntary administration, after the previously announced sale of its Operations Support System (OSS) business was unable to be completed.
"As a result, the directors have resolved that in their opinion the company is insolvent or likely to become insolvent within the foreseeable future," the company said in its statement to the ASX.
The administrators would be looking at all available options in deciding the future direction of the company, according to a statement from Deloitte Touche Tohmatsu.
"Shares in Open Telecommunications, which had operations in Australia, Brazil and the United States, are currently suspended from trading on the Australian Stock Exchange," the statement said.
A spokesperson from the administrators was unavailable to comment further at the time of this story going to press.
