Netpointers bankrupted again - leaving creditors with 1,5 mill. USD Debt   by Henning Madsen

in News    (submitted 2010-06-08)

Netpointers Technologies A/S Bankrupt - Leaving Creditors with US$1,5 M in Debt

Last year Netpointers Technologies A/S Head office in Denmark got bankrupt, leaving creditors with a massive loss on 1,5 million USD

Netpointers, the search engine optimization organization that work from their headquarters in Denmark and office in New Zealand got bankrupted for the second time back in 2009. Netpointers deals with onsite optimisation of websites utilizing doorway page/info page technology. Following years of business operations, struggles to be on top of the league leaving the entire company financial difficulties that led to its demise and got bankrupt.
The organization went bankrupt for the second time, leaving creditors huge debt to the tune of US$1,5 Million.

Critical Steps By The Owners
Just before Netpointers Technologies A/S went bankrupt, numerous critical steps were taken by the owners of the business.
Very first, Netpointers Technologies A/S changed it's name.


The very first alarm bells rang just a few weeks prior to the bankruptcy when Netpointers Technologies A/S changed the name from Netpointers Technologies A/S to the less flattered name of "AFV af 21.04.2009 A/S". The reason became clear why the alter of it's name after short time.


A couple of weeks after a new company was established called Netpointers A/S, without the "technologies".
The company - Netpointers A/S was established by a gay referred to as Michael Dall-Hjoerring whom at that time owned 50% of the New Zealand Netpointers organization.
The rest of New Zealand Netpointers organization was owned by the bankrupt Netpointers Technologies A/S.

Somehow in the bankruptcy the 50 % share that Netpointers Technologies A/S owned at that time mysteriously "got lost", if it hadn't got lost the New Zealand company would most likely also had gone bankrupt.

Assets transferred to the new company for US$90,000
Just a couple of weeks after the change of the name, Netpointers sold the assets in the business, which counted among others: a clientdatabase of contracts worth of approximately US$2-3 million annually and I think to believe 50 % of share of Netpointers Limited was either sold to Netpointers Limited, which is illegal or bought by the owned Michael Dall-Hjoerring. The transfer price was 500,000 DKK, which estimated to be around US$90.000

Netpointers filed for bankruptcy
May 2009 Netpointers filed for bankruptcy. At that time no assets was left in the organization, all employees was offered job in the new Netpointers A/S, leaving a massive 1,5 million USD in loss for the creditors

The Previous Owner is Now A Senior Adviser
The previous owner of the head quarter was Mr. Christian Kjaer-Andersen. He is now working as senior advisor for the new company created and I believe, he has some kind the right to purchasepart of the organization back, when he is done with his debt settlement.
To see the connection between these persons, please read further.


The Owners of Netpointers Brand and It's History
In 1998, the initial Netpointers was established among others by Mr. Christian Kjaer Andersen. Back in 2003, Netpointers first time went bankrupted, leaving creditors with a loss on around 800,000 USD.

In May 2002 the New Zealand Netpointers Limited (Puretrack) Organization was established by Mr. Michael Dall-Hjoerring. The connection with Christian Kjaer Andersen and Michael Dall Hjoerring are a close 20 years friendship.

Due diligence
If anyone consider to partner up with Netpointers, my advise would be to make a very thourough Due Diligence, espcially look at the way the money has been spend from, and really look into the cashflow from New Zealand to Denmark, there have previously been some very interesting transactions.

About the Author

My name is Henning Madsen, I'm was the original founder of Netpointers back in 1997, working as CTO. I left the organization back in 2005 due to an economic scandal, where money was removed from the organization without my notice.

If your want futher informations, please don't hesitate tp call me on +45 2146 4544 or send an email to mail@henningmadsen.
dk <mailto:mail@henningmadsen.dk>