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Software house Rosenet today filed a petition for liquidation with Tel Aviv District Court.

On August 21, the company's Internet arm petitioned to freeze the liquidation procedure.

A source related to the company said that the petition for liquidation is designed to enable the company to sell assets and repay loans.

The source said that the investors, among them Tel Aviv-traded Advantech Holdings, want to sell Rosenet as a live business, not piecemeal. The company still has some staffers.

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The source further said that the investors have given up running on the idea that the company can continue operating under its present structure. The source added that Rosenet cannot meet its current commitments.