Calgary’s Poynt Files for Bankruptcy
Calgary-based mobile app Poynt, which said in May it expected to triple its userbase in 2012 to 40 million, has filed for bankruptcy.
Poynt Corporation announced that today it has filed with the Office of the Superintendent of Bankruptcy, a Notice of Intention to File a Proposal under the Bankruptcy and Insolvency Act Canada. As a consequence of such filing, any and all recourses of the Company’s creditors are stayed for an initial period of 30 days, which may be extended by the Court of Queen’s Bench of Alberta.
Poynt says that it is “not currently in a position to meet the obligations owing to its secured and unsecured creditors and as such, has taken this action under the BIA as the most expeditious and economical manner of addressing the interests of its creditors and allowing it to carry on its operations.”
In addition, the Canadian company announced that David Lucatch resigned from his position on its board of directors.
