Brandscreen staves off winding-up order amid claims $13m is on way from mystery backer

A mystery Malaysian billionaire holds the key to the future of adtech firm Brandscreen after the stricken company held off a winding-up order following months of financial uncertainty.

Sydney’s Supreme Court yesterday adjourned a bid to liquidate BRZX, the parent company of Brandscreen, until October 18, as its owner and chief executive Robert Manning insisted a US$10m (A$13m) windfall from the cashed-up businessman was just days away.

The investment would allow the company to remain solvent, pay off debts, including money owed to staff, and to re-launch the company, he said.

Brandscreen, a demand-side platform which emerged from administration in early 2014 and was acquired by Manning early last year, is thought to owe between $2m and $3m.