Wirecards Australian and New Zealand businesses were officially placed in voluntary administration yesterday afternoon.
Around 70 local and Kiwi staff were notified of the decision following the appointment of Andrew Fielding and Nicholas Martin from BDO Business Restructuring as administrators of the Australian operation.
Melbourne staff were told that BDO would make an assessment on whether the business was viable and would try to identify potential buyers.
Wirecard AG, a German-listed global payments company filed for insolvency last month after special audits of its latest financial report found that 2 billion of cash could not be accounted for.
That revelation resulted in the arrest of several former directors of the group, includi…
Read the full article at: https://www.bankingday.com/bdo-administrators-take-control-wirecard