ASX-listed fintech Openpay appoints McGrathNicol as Receivers and Managers

McGrathNicol have today announced that they have been appointed Joint and Several Receivers and Managers of ASX-listed fintech Openpay.

The effect of the appointments is that the Receivers and Managers are now in control of assets, operations and trading activities of the company.

McGrathNicol have stated that they will work closely with Openpay’s employees, merchants and customers to urgently determine the appropriate strategy for the business.

At this time, customers will unfortunately no longer be able to use the Openpay platform for new purchases, but are still required to pay any outstanding balances in accordance with their existing agreements.

McGrathNicol have also stated that it is expected that the shares in Openpay will continue to be suspended until further notice while the assessment of the appropriate strategy is ongoing.