KPMG-Peat Marwick, receivers to Finansa Ltd, London (CI No 2,511) says it believes it will be able to sell it as a going concern, saying there has been a great deal of interest in the company, which developed electronic mail technology including Remote WinMail for Windows. KPMG says that when it was called in Finansa had a number of valuable contracts and orders, one of which was a deal with Cellnet Mobile Communications Ltd and IBM Corp to incorporate Remote WinMail for Windows into IBM Mail Exchange on the Cellnet network (Ci No 2,403). Finansa’s outstanding debts were primarily to its financiers and not to trade creditors. The company’s failure was attributed to costs of developing and bringing the electronic mail product to market.
