Saturday June 6, 2020

Revealed: €63m owed by bust Circle Oil includes €98k wage bill

Limerick-based company had a portfolio of oil assets in Morocco, Tunisia, Oman and Egypt

5th March, 2017
Liquidators were appointed to Circle Oil late last month

Failed exploration company Circle Oil has left behind €63 million of debts that it cannot pay after being placed in liquidation, documents reveal

The Limerick-based company, which had a portfolio of oil and gas exploration and production assets in Morocco, Tunisia, Oman and Egypt, owed employees almost €100,000 in wages.

Taxes and local authority rates accounted for a further €13,608 in unpaid debts, according to a statement of affairs prepared by company directors that outlined...

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