Maxwell Drummond International (MDI) has cancelled an event at the annual Offshore Technology Conference (OTC) in Houston after it entered administration last month.
The company had been set to host a reception at the event which takes place from May 2nd to May 5th in Houston.
MDI was placed into insolvency by specialist Begbies Traynor with the downturn in the oil price blamed “partly” for the move.
In a note to attendees, chairman Andrew MacDonald said senior management had been instructed to cancel the event “some time ago” but it had not been with staff “keen to carry it on at their own expense”.
He said: “They were advised this could not happen as they have no ownership rights to the Maxwell Drummond brand.
“The demise of Maxwell Drummond International has had consequences on other parts of the group which have been subsequently saved and will continue to trade as a viable business.”
The company went into administration on March 30th and its chief executive resigned on April 6th.
MacDonald said as chairman and majority shareholder he had been working with Begbies Traynor to establish “exactly what has been going on.”
The company, which was set up in 1994, had an office at Rubislaw Place in Aberdeen in addition to bases in Calgary, Houston, Rio de Janeiro and Singapore.
At the time the company went into administration, Begbies Traynor decline to say how many employees had been effected worldwide.
At one point, MDI had more than 30 staff members in Aberdeen.