Lime Telecom goes under owing $1.6 million

Former BRW Fast 100 company Lime Telecom has gone into liquidation owing $1.6 million to creditors.

The calling card provider made a voluntary decision to wind up the company on 26 May, with the appointment of liquidator Worrells Solvency & Forensic Accountants announced on 5 June.

The majority of the calling card provider's debts were to the director and a shareholder. Other amounts include $150,000 owed to Primus Telecom, according to a figures disclosed by Lime Telecom in a report to creditors. 

Lime Telecom has ceased trading and it does not appear that a return to creditors is likely in the liquidation, according to a spokesperson for the liquidator.

The company, which was founded in 2004, was listed in the BRW Fast 100 in 2008 and 2009.

As well as calling cards, Lime Telecom offered an international callback service, PC dialer, mobile software and an SMS service.

Lime Telecom was directed to comply with the industry consumer protection code by the ACMA in October last year. The watchdog reported that Lime Telecom had "consistently" failed to supply a Critical Information Summary on its website.

According to ACMA, Lime Telecom was issued with a formal warning for non-compliance in August 2013. In December, ACMA reported Lime Telecom was not yet compliant.

CRN attempted to contact Lime Telecom but did not receive a response by the time of publication.