Iora Software Limited (06355415): administration
- Status
- Administration ended
- Administration began
- 2018-07-03
- Administrators' firm
- Quantuma
- Formerly
- Infonic (UK) Limited
- Incorporated
- 2007-08-29
- Location
- Brighton
- Industry
- 62012 Business and domestic software development
From the administrators' statement
3.1. On 18 September 2017 the Company granted a debenture to Moriah Software Management LP in return for significant borrowing. The amount outstanding to the secured creditor is being reviewed by the Joint Administrators and has not yet been verified.
3.2 The purpose of this funding was to resolve the cash flow issues experienced by the Company and to fund further development of the iOra product.
3.3. A number of default notices were issued by the secured creditor under the terms of the loan. Attempts were made to reach an agreement to agree to a settlement of the outstanding debt, but not acceptable agreement was reached.
Administrators' statement of proposals (2018-09-05) · Companies House register