Provisional liquidator appointed to Vodka firm

The High Court has appointed a provisional liquidator to Taiga Shtof Ltd, a company based at Laburnum House, Fairgreen Road, Ballymote, County Sligo, which manufactures and distributes premium Russian vodka. Ms Justice Leonie Reynolds appointed insolvency practitioner Shane McCarthy of KPMG following confirmation that the company is insolvent and unable to meet its debts. The appointment was made after the court heard that the company encountered difficulties arising from a shareholder dispute. Production deadlines were allegedly not met, and the company faced funding shortfalls and unpaid expenses, causing significant business delays. The product, originally scheduled for launch in September 2016, was not released until December of that year. Two of the shareholders petitioned the court seeking a liquidator's appointment to preserve the company's brand and intellectual property for creditors. The petition also sought to facilitate execution of an exclusive United States distribution agreement required before November 7th. The judge adjourned the matter to a date in the following month.