Wednesday February 26, 2020

High Court declines to restrict insolvent directors

The High Court has decided not to restrict three directors of a Cork office furnishing company which continued to trade despite being insolvent.

22nd February, 2013

The High Court has decided not to restrict three directors of a Cork office furnishing company which continued to trade despite being insolvent.

Aidan Heffernan, the liquidator of Business Interiors and Design Ltd (BID), asked the court to restrict managing director Tim Murphy and his sons Michael and Colin. He said they should have stopped trading in 2009 after they realised that the company was more than €400,000 in debt.

BID also owed the Revenue Commissioners...

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