Courts / Ireland / Report

Solar power company settles action

Summary

A solar‑power company, Welink Investment Holdings Ireland Ltd, settled a High Court action that sought to stop another firm, Sustainable Development Capital LLP, from filing a petition to wind it up over a disputed €1.2 million debt. Earlier in the week, Welink had secured a temporary injunction preventing the defendant from taking steps to have the plaintiff wound up. The case returned before Ms Justice Leonie Reynolds on Thursday, where Welink's counsel, Stephen Dowling BL, informed the court that the parties had reached a settlement and that the action could be struck out on consent. No settlement details were disclosed. Welink, part of a group of solar‑energy companies with 87 employees, denied the debt and said it was fully solvent. The defendant had threatened to seek winding‑up if the debt was not paid, a move Welink said could damage its reputation and hinder future projects and investment.

Who, what, where, when and why

What: Report matter: Solar power company settles action. Procedural stage: hearing_or_decision

When:

• 2019-07-18 Publication

Places mentioned

Topics

Stage Hearing Or Decision

Read the original CNI report