North Shore cable company Superway has been placed in receivership.
Michael Stiassny and Grant Rober of Ferrier Hodgson were appointed as receivers earlier this week.
The company also faces a liquidation order from cable-laying contractor Infront Consulting, based in Otahuhu.
Superway was formed in September 1998 and planned to roll out a high-speed fibre network, capable of delivering telephony, TV and high-speed data services, on Auckland's North Shore and Whangaparoa Peninsula. It signed an interconnection agreement with Telecom the same year and launched a pilot of its high-speed network in 1999.