The halt follows a run of increasingly bad news from the company. Last month it due to restructuring costs and impairment charges. The company, which had made a $4.8 million profit in 1H10, spent the most recent half attempting to restore the financial health of the business.

In December it . The first to go was its financial management solutions unit, iSoft Business Solutions (iBS), to Capita Group PLC.

Earlier in the month it . Fiumicelli was named acting CEO in September, following the from the position.

September saw the announcement that , constituting 17 per cent of its total workforce, over the next financial year in a bid to halt its sliding financial fortunes.