DIAGNOSTIC products company Ellume Limited has gone into liquidation and has ceased operations.
Suppliers and creditors are being advised to contact the external administrator for the company, FTI Consulting, HERE.
Last year, Ellume was plucked out of administration by competitor Hough Consolidated in a USD$38 million (A$57 million) deal, however, this week when Hough was unable to satisfy the conditions attached to vary the terms of the Deed of Company Arrangement (DOCA), the DOCA was automatically terminated and a wind-down of the operations begun.
The unmet terms were to provide a non-refundable payment of $1.25m to the Deed Administrators, and demonstrate it had sufficient funds within its lawyers' trust account to pay the full sum owing to the Short-Term Funders.
The above article was sent to subscribers in Pharmacy Daily's issue from 15 Jun 23
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