meeting of creditors and shareholders.

The report details the absence of assets in the company that held 50 percent of the shares of the computer firm, North Atlantic Data Services (NADS), which went into receivership in November. NADS was the sole investment of BOSL.

NADS was the local representative of the troubled American computer company, Wang, which entered US bankruptcy protection last year.

NADS went from a staff of 18 early last year to just three in November.

BOSL had more than 100 shareholders, some of whom heard at a meeting on April 4 how the winding up of the company had been proceeding under section 233 of the Companies Act.