♟️ StrongRoom state of play
There are likely more twists and turns to come in the StrongRoom AI saga, which has captivated the Australian startup ecosystem.
The wheels that pulled StrongRoom AI into voluntary administration began turning on Monday last week when a director at the startup and that person's lawyer called a meeting with HLB Mann Judd.
The advisory firm’s insolvency experts Todd Gammel and Matthew Levesque-Hocking met with the director and solicitor Ben Dibden of Bridges Lawyers, documents filed with the corporate regulator on Tuesday night reveal, to discuss StrongRoom’s position — and for HLB Mann Judd to consider acting as an administrator for the startup.
The director is likely EVP’s Misha Saul, as Bridges Lawyers is currently representing the Sydney VC firm in Federal Court and Saul represents EVP on StrongRoom's board.
This was the same day EVP, which had led a recent funding round into StrongRoom, revealed it had called police to investigate the startup over "alleged activity" that has still not been outlined publicly. The VC scored a court victory on Monday when it was granted an urgent asset freeze order in the Federal Court.
