AI ISV Semantic Software Asia Pacific set for winding up

AI ISV Semantic Software Asia Pacific set for winding up
AI ISV Semantic Software Asia Pacific set for winding up
Liquidators to be appointed.
Supreme Court of NSW
Credit: Dreamstime
Sydney-based independent software vendor (ISV) Semantic Software Asia Pacific is set for closure as the Australian Securities and Investments Commission (ASIC) green lights its winding up. 
Liquidators are set to be appointed to the artificial intelligence (AI) specialist after the New South Wales Supreme Court ordered that it be wound up on "just and equitable grounds". 
The ruling follows earlier court orders made on 28 June 2021 that preserved Semantic’s assets and restrained Semantic director Duncan Mount and former director Mark Bradley from receiving or soliciting funds from investors and from advertising, promoting or marketing fundraising for the company. 

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