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Legacies catch up with Management Resources Solutions

Published: 21:57 26 Jun 2017 AEST

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Claim is for A$3.6mln

Management Resource Solutions Plc (LON:MRS) slumped as it received a financial claim from the liquidator of a Guernsey-based subsidiary.

Issues with its consulting contracts in Papua New Guinea and New South Wales had been flagged before and MRS Guernsey, the company that operated the PNG contract, was put into voluntary liquidation at the end of the 2016.

Now, though, the liquidators have claimed A$3.6mln for an intercompany balance due to MRS Guernsey Limited to be paid by 19 July. 

Management Resources said the claim was without merit and it will defend the matter vigorously.

Shares fell 34% to 2.63p.

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