Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : PCW - Pacific Century CyberWorks Limited -- Ignore unavailable to you. Want to Upgrade?

To: ms.smartest.person who wrote (1406)	6/14/2001 8:40:06 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

Baker Tilly named liquidators for Alive Networks 2001-06-15 Terms and Conditions BAKER Tilly have been appointed liquidators for failed travel and learning channel Alive Networks at a ''very calm, very professional'' creditors meeting held yesterday morning. Former CEO Ian Henry was ''very gracious in not putting his vote forward'', recounted Liam Carroll, AT&T Digital Media Centers general manager for Hong Kong. Earlier reports had predicted a blood bath for Mr Henry, who claimed to be the largest creditor with about US$4 million (HK$31.2 million) in equity and had been pushing for another company, Mazars, to be the liquidator. Mr Carroll said the vast majority of the 40 to 50 creditors present agreed with him when he put forward Baker Tilly. After Mr Henry, AT&T is the largest creditor, followed by Pacific Century CyberWorks' (0008) Pacific Century Matrix. The Labour Department had received up to 68 claims for outstanding wages from Alive staff. Mr Carroll said the liquidators meeting put a sense of closure on the whole affair, and that everyone - including Mr Henry - had been ''hurt'' by what happened. Former Alive Networks director of corporate development Alastair Monteith-Hodge declined to comment on the proceedings, saying it had been ''a harrowing day and I'm not in the mood to talk about it''. At a SunTV (307) press conference held later that day, executive chairman and CEO Bruno Wu Zheng would neither confirm nor deny the rumor that he had been in talks with Mr Henry to buy Alive Networks during the final frantic days to secure funding. ''All I can say is, they are not part of our plans right now,'' Mr Wu said. SunTV acquired 51 per cent of Macau Travel Channel in August 2000. A SunTV executive said talks had definitely been held between representatives of their network and Mr Henry before Alive shut down operations on May 21. Terms and Conditions Copyright© 2000 LEXIS-NEXIS, a division of Reed Elsevier Inc. All rights Reserved. quamnet.com