Aus software firms falls into liquidation

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A company which sells the 2Clix accounting software has been dissolved after failing to appear in front of court.

According to the Australian, Queensland-based 2Clix Pty Ltd was declared insolvent after it failed to pay a creditor, Firston, nearly AUD$50,000.

Prior to facing the courts, the company could potentially have sold its assets quickly and securely using a virtual data room and used the funds received to repay it debts.

Firston's solicitor, Mark Frampton, told the Australian: "There was no appearance or representation by [2Clix].

"I've not heard a single word from the company despite having served on their solicitors on three occasions."

The newspaper reported that this is not the first time that a company associated with the software has hit severe financial difficulties, as 2Clix Australia entered voluntary liquidation in 2007.

In February, statistics from the Australian Securities and Investments Commission revealed that the rate of corporate insolvencies rose by 36 per cent in Queensland in 2008, the Courier Mail reported.