EXCLUSIVE: Andrew Goldfinch the founder of Australian consumer electronics distributor Leisuretech has been accused of deliberately placing his Company into voluntary administration with debts of over $1.6 million dollars after he lost a patent court case in the UK.
A UK Company who won the Court case against Leisuretech are now asking the administrators whether Goldfinch and his fellow directors acted illegally and whether their actions are fraudulent.
The directors of Leisuretech who distribute such products as Russound, Channel View, Tru Audio and Sound Caste in Australia are accused of deliberately approaching vendors around the world to transfer distribution agreements that they had with Leisuretech to a new Company AC & EM G Pty Limited that was registered in Australia on 28 November 2008 shortly after a UK High Court ruling which revoked the UK ABus patent.
In October 2008 Armour a UK Company was awarded a material sum in regard to costs by the High Court following the loss of the UK court case
Goldfinch who claims that he invented the ABus sound system has found himself in hot water on several occasions.
In a statement issued to ChannelNews Armour Group claim that shortly after Leisuretech lost their claim to the ABus patent in the UK they were notified that the directors of LTE, Mr Andrew Goldfinch and Mr Jonathan Ritchie, put LTE into voluntary administration on 2 March 2009.
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