<div dir="ltr"><div>All,</div><div><br></div><div>This might be old news to some people, but I missed anything back in June, so it is all new to me.</div><div><br></div><div>Just an FYI as I know a lot of people dealt with them at one time or another.</div>
<div><br></div><div>...Skeeve</div><div><br></div><div>---</div><div><br></div><div><b>From CRN, 24th November 2013</b> - <a href="http://www.crn.com.au/News/361711,pennytel-in-liquidation-amid-fraud-claims.aspx?eid=4&edate=20131024&utm_source=20131024&utm_medium=newsletter&utm_campaign=daily_newsletter">http://www.crn.com.au/News/361711,pennytel-in-liquidation-amid-fraud-claims.aspx?eid=4&edate=20131024&utm_source=20131024&utm_medium=newsletter&utm_campaign=daily_newsletter</a></div>
<div><br></div><div><h1 class="" style="font-size:30px;font-family:Arial,sans-serif;color:rgb(51,51,51);margin:10px 0px"><span id="ctl00_ctl00_ContentPlaceHolder1_LeftColumnPlaceHolder_Article_HeadingLabel">PennyTel in liquidation amid fraud claims</span></h1>
</div><div><h2 class="" style="font-family:Arial,sans-serif;font-size:16px;line-height:1.6em;margin-top:0px;color:rgb(0,0,0)">Dragged under by Hi-Tech Telecom in liquidation.</h2><div align="center" style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px">
</div><p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px">Mobile reseller PennyTel and wholesale VoIP provider iVoisys have both been forced into liquidation, after the NSW Supreme Court heard evidence of questionable payments to the companies from a debt-laden parent company.</p>
<p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px">PennyTel offered mobile and broadband plans running on the Vodafone network, while iVoiSys resold IP telephony and unified communications services over the same network. Both were ordered by the NSW Supreme Court to appoint a provisional liquidator last week.</p>
<p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px">Until March 2013, both PennyTel and iVoisys were run by director Amadu Yahaya, an African national based in Sydney.</p><p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px">
Yahaya was also the founder and sole director of Hi-Tech Telecom (HTT), a networking and VoIP provider to the enterprise market, which entered into liquidation in June 2013 after its major creditor investigated a series of suspect financial transactions made by the company.</p>
<p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px">From around September 2010, HTT had entered into a <a title="Factoring facility" href="http://en.wikipedia.org/wiki/Factoring_(finance)" target="_blank" style="color:rgb(187,18,32);text-decoration:none">factoring facility</a> with Allianz whereby the creditor would loan HTT funds against unpaid invoices from customers. HTT's original limit of $7.1 million ballooned to $15 million by March 2012.</p>
<p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px">When HTT sought a further increase earlier this year, Allianz embarked on an independent verification of the balance of cash owed to Hi-Tech Telecom by its debtors.</p>
<p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px">Allianz discovered that several purported customers had no dealings with HTT, while others acted in a suspicious manner — causing the bank to question the legitimacy of HTT’s invoices.</p>
<p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px">Further investigation revealed that 21 of 45 debtors said to owe $23 million to HTT never had any dealings with the company. The remaining 24 were not able to be reached.</p>
<p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px">Liquidators were appointed, with Allianz as secured creditor, who is still owed some $14.4 million.</p><p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px">
<strong>'Unjustified payments'</strong></p><p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px">Hi-Tech's receivers have now come after the PennyTel and <span style="font-size:12px">iVoiSys businesses.</span></p>
<p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px">All three companies are registered at the same residential address in North Ryde. Yahaya was the sole director of both iVoiSys and PennyTel until March 2013. Megan Havyatt, also registered at the same address, is now the sole director of both. The court heard evidence that Havyatt and Yahaya were in a domestic relationship with two children.</p>
<p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px">The directorship of HTT, meanwhile, was transferred to one Robert Van Leeuwen, who has not assisted recievers with their investigations.</p>
<p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px"><span style="font-size:12px">The court found that Yahaya had transferred $3.9 million to PennyTel and $1.2 million to iVoiSys earlier this year, for no apparent reason.</span></p>
<p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px">"I am satisfied that the evidence shows that, on the face of things, a fraud appears to have been perpetrated on Allianz and on HTT," said Supreme Court Justice James Stevenson in a judgment granting search and freeze orders against Yahaya, iVoiSys and PennyTel on behalf of HTT in June.</p>
<p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px"><span style="font-size:12px">No business records for the operations of HTT were able to be found.</span></p><p style="color:rgb(0,0,0);font-family:Arial,sans-serif;font-size:13px;line-height:20.796875px">
Yahaya was not present for the June hearings, his last contact with HTT's recievers made by telephone, in which Yahaya claimed to be in Los Angeles, USA.</p></div>---<div><b>From Commsday, 25th November 2013</b></div>
<div><br></div><div><span style="font-family:'0ranklinGothicHeavy';font-size:18pt"><b>VoIP providers in liquidation following court proceedings</b></span><br></div><div><div class="" title="Page 8"><div class="">
<div class="">
<p><span style="font-size:12pt;font-family:'0oudyOldStyle'">A group of small telco resellers that includes mobile reseller and voice over IP provider Pennytel as
well as VoIP provider Ivoisys have gone into liquidation. Both companies were involved in a court
case in June this year with Hi Tech Telecom, also now in liquidation, which is being chased by credi-
tors including Allianz for millions of dollars allegedly owing.
</span></p>
<p><span style="font-size:12pt;font-family:'0oudyOldStyle'">In the court case in June, HTT alleged that Pennytel and Ivoisys owed it $3.9 million and $1.3 mil-
lion respectively, while an amount of $14.4 is owed by HTT to Allianz, according to the court docu-
ments. HTT is also alleging fraud against Pennytel and Ivoisys, which both share a registered office.
In June, the Supreme Court found that Amadu Yahaya, the sole shareholder of HTT, had transferred
some $1.2 million to Ivoisys and the sum of $3.9 million to PennyTel, from funds that had been ad-
vanced by Allianz. Yahaya has since moved overseas.
</span></p>
<p><span style="font-size:12pt;font-family:'0oudyOldStyle'">The court proceeding noted that the receivers have been unable to find any regular business rec-
ords of HTT. The only source of documentary information available to the receivers to date is infor-
mation that they have been able to obtain from Allianz, from HTT's bankers (NAB and Westpac) and
from ASIC.
</span></p>
<p><span style="font-size:12pt;font-family:'0oudyOldStyle'">It's also not the first time the companies have been involved in controversy. In 2011 Optus cut the
service of PennyTel, forcing it to port its customers over to Vodafone. At the time Optus had said
that the move was a “commercial decision”.
</span></p>
<p><span style="font-size:12pt;font-family:'0oudyOldStyle'">HTT had previously been sued for unpaid invoices by Uganda Telecom in a case that took place in
Uganda but was registered by the courts in Australia. An arbitrator had delivered an award against Hi-
Tech, and Uganda Telecom applied to the Federal Court to register the award as an Australian judgement.</span></p><p><span style="font-family:'0oudyOldStyle';font-size:12pt">Geoff Long </span><br></p>
</div>
</div>
</div></div><div>---<br clear="all"><div><div dir="ltr"><div><br>...Skeeve</div><div><br></div><div><div><b style="font-size:13px;font-family:Calibri">Skeeve Stevens - </b><span style="font-size:13px;font-family:Calibri">eintellego Networks Pty Ltd</span></div>
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