Monday January 20, 2020

Court to defer wind-up of Irish Asphalt

Irish Asphalt is insolvent with net assets of €30 million against secured loans of €50 million

19th October, 2017
2
Justice Mary Finlay Geoghegan is to be promoted to the Supreme Court and will be replaced at the appellate court by Justice Paul Gilligan

The High Court has agreed to defer the wind-up of Irish Asphalt Ltd (IAL) until it finishes defending a separate €40 million “deceit” law suit next year.

James Elliott Construction Ltd (JECL) applied for liquidator Jim Luby to be appointed to the insolvent materials provider over an undisputed €2.4 million unsecured debt. The JECL debt arose from the supply of defective construction infill containing excessive pyrite.

However the wind-up petition was opposed as...

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