A Christchurch based product development company has been placed into liquidation after failing to successfully commercialise a product aimed at preventing sea sickness.

Motion Research Limited, formerly trading as See Level, was put into liquidation on 19 March 2026, with licensed insolvency practitioner Robin Crimp of RAC Insolvency Limited appointed as liquidator.

The company, which was incorporated in 2018, had been working to develop a product designed to counter sea sickness but was ultimately unable to bring a viable product to market.

In his initial report to creditors and shareholders, Crimp said the company’s inability to develop a commercial product was a key factor behind its collapse.

“Once it was determined that a commercial product couldn’t be developed, the innovation funding that the Company received was unable to be repaid,” he said.

The liquidator said the company had minimal physical assets at the time of liquidation, with limited commercial value.

It also held intellectual property, including expired patents and knowledge related to the product, but these were considered to have negligible value. An agreement has been reached to sell those assets to a company director for $6,000 plus GST.

Crimp said further investigations would now be carried out into the company’s affairs, including whether any insolvent transactions had occurred or if there had been any breaches of legislation by the company or its officers.

“If any insolvent transactions or breaches of legislation have occurred, we will consider making any claims that will increase the recovery available to creditors,” he said.

At this stage, it remains unclear whether unsecured creditors will receive any return, with the outcome dependent on the extent of any outstanding preferential debts and the results of ongoing investigations.

A search of the Personal Property Securities Register found no secured creditors at the time of liquidation.

The liquidator has not yet received any preferential claims from Inland Revenue.

Creditors have been asked to submit claims by 20 April 2026.

It is too early to determine when the liquidation process will be completed.