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| Employees claim start-up Secure Vision is finished | Published by: Globes
www.globes.co.il
Noam Sharvit
26/11/2008
| The IT security company fired its workers and stopped collecting payment on its products and services.
Six employees of IT security start-up Secure Vision Ltd. Have petitioned the Tel Aviv District Court to liquidate the company on the grounds that it has stopped all activity and has NIS 550,000 in debts.
US-Israeli homeland security investment company Athlone Global Security Ltd., founded by IDF Maj.-Gen. (res.) Doron Almog, owns 48% Secure Vision. Secure Vision was founded in 2003.
Secure Vision's employees claim that the company stopped all activity in late September, fired all employees, and stopped collecting payment for its products and services. Although the company is inactive, several employees still operate essential customer services at their own initiative and without pay in the slight chance of selling the company as a going concern.
The employees claim that the company owes them NIS 282,000 and that it owes suppliers NIS 100,000. The company has stopped paying rent on its offices. The employees claim that Secure Vision's shareholders decided unofficially not to keep the company operating and stopped trying to secure financing for it.
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