OpenHydro to be wound up as founders’ rescue plan dismissed
The bid to install an examiner at troubled tidal energy firm Openhydro has failed, with the High Court opting instead to appoint a liquidator to the debt-laden business.
Company founders Brendan Gilmore and Donal O’Flynn and other minority shareholders were seeking to install bankruptcy protection from the courts, but this attempt, described by opponents as “a last throw of the desperation dice”, was dismissed on Friday by Justice Eileen Creedon.
A stay has been...
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