Courts / Dublin / Report
Bid to wind up company at centre of pyrite dispute
Summary
An application to wind up Irish Asphalt Ltd has been filed with the High Court by James Elliot Construction (JEC). The petition seeks a liquidator for the company, part of the Lagan Group, over an alleged unpaid debt exceeding €2.4 million. Irish Asphalt, its directors, and Lagan Holdings Ltd – the largest creditor – oppose the petition, arguing that JEC's motive is to gain an advantage in separate deceit proceedings involving the company, its directors Kevin and Terry Lagan, John Gallagher, and Lagan Cement Group Ltd. The debt stems from a 2011 High Court judgment concerning a stone infill supplied by Irish Asphalt to JEC for the Ballymun Central Youth Facility, which contained excessive pyrite and required major repairs. The case was appealed to the Supreme Court and then to the European Court of Justice, but the Supreme Court dismissed the appeal and the ECJ's findings did not aid Irish Asphalt.
Who, what, where, when and why
What: Report matter: Bid to wind up company at centre of pyrite dispute. Procedural stage: hearing_or_decision
When:
- 2017-07-18 Publication
Why: They claim JEC has an ulterior motive in seeking to have the company liquidated, namely that it will give it an tactical advantage in separate 'deceit' proceedings JEC has brought against the company, its directors Kevin and Terry Lagan and John Gallagher, and another related entity – Lagan Cement Group Ltd. CNI source report
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