The liquidator for collapsed app-development business Appster is rallying creditors to pursue legal action against founders Mark McDonald and Josiah Humphrey, alleging they traded while insolvent.
Releasing an anticipated statutory report into the affairs of Appster on Tuesday, liquidator Paul Vartelas revealed the once-upon-a-time market darlings financial position had been worsening for several years prior to its collapse last December.
It is my view that the company traded whilst insolvent prior to my appointment since the 31st of March 2018 and quite possibly since the 31st of March 2017, Vartelas wrote in his report.
Creditors are now being asked to fund legal proceedings against the directors, due to the limited resources left a…
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