According to the paper, Visinet Australia was offering "unlimited" Internet access from just $200 per year, a price which the Australian Securities Commission called "impossible".

Around 400 customers were left in the lurch when liquidators were appointed to wind up the company's affairs in the wake of the directors (Phillip John Douglas and his wife Gina) flight across the Tasman to New Zealand.

The only indication as to how much money was owed was the comment that there were "substantial creditors".

New Zealand Net users looking for a bargin could be advised to make a note of the names of the directors and avoid them should they surface in the local industry.

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