Shipping firm sinks under €3 million debts

The Revenue Commissioners and law firm Arthur Cox are among the creditors of Global Ocean Technologies, a Waterford shipping company that collapsed last week with debts of almost €3 million.

Ian Kehoe - avatar

Ian Kehoe

4th December, 2004

The Revenue Commissioners and law firm Arthur Cox are among the creditors of Global Ocean Technologies, a Waterford shipping company that collapsed last week with debts of almost €3 million.

According to the firm's statement of affairs, Global Ocean owes the Revenue €330,000. Arthur Cox is due €196,000. It is understood creditors will not receive any payment as the firm had assets of just €8,000.

Global Ocean's chief executive, Noel Hanley, told a creditors' meeting...

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