State seeks to have Solar 21 investors shoulder cost of proposed investigation
The application for the appointment of an inspector is being brought by three investors who collectively put around €380,000 into a now abandoned energy from waste (EFW) project
The justice minister is seeking to have a group of investors who are owed nearly €400,000 from a troubled renewable energy firm held liable for the cost of a proposed investigation into its affairs.
Solar 21, which owes investors around €250 million, is facing a High Court application for the appointment of inspectors to investigate how the money it raised from the public was spent.
Under Section 747 of the Companies Act 2014, independent investigators can be appointed by the High Court in cases where concerns have been raised but the costs of such investigations are typically borne by the state.
