Asia Online was placed in voluntary liquidation yesterday after US-owners Softbank pulled the plug.
"We're maintaining certain linkages with the Australians," says Downey. "Business is continuing, but purely on a day-by-day basis," says Downey.
IDGNet understands the ISP, the first commercial ISP in New Zealand, has been supported by the US parent company for some time.
"Customers have been supportive and we're confident that will continue for the next few days, but it's up to the customers to take care of themselves."
Downey says he believes that "within the next 24 to 48-hours" find a buyer for the New Zealand operation.
"We're reasonably hopeful we will do that and receive a submission from one or more parties to continue the business, or parts of it. If we don't, we will have to examine our options on Monday."
Asia Online started life as ICONZ, Auckland's oldest commercial ISP, and had been providing service since 1993. Bought by Asia Online in April 1999, the operation was dramatically scaled back in December 2000 to become little more than a branch office, run out of Australia.