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Creditors' meeting

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The liquidators were called in last week to wind up the affairs of Purple Software, the mobile games software company.

A creditors' meeting has been called for February 7, by London-based insolvency practitioners Middleton Partners. This will decide upon a creditor's voluntary winding up, called under Section 98 of the 1986 insolvency Act, which you can read here.

We assume that there will be an asset sale for Purple's technology and games portfolio. We guess that an MBO team may be prepping a bid for the assets too. But this will have to remain conjecture, until we receive a statement from the company, promised us for either last Friday or yesterday. ®

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