Courts / Wicklow / Report

Shane Byrne and brother prepared to offer €1.5m for waste company shares, court hears

Summary

The High Court has adjourned proceedings concerning AWD Waste Solutions Ltd to allow parties to continue advanced settlement discussions. Oxigen Environmental, the applicant, brought the matter under the Companies Act, alleging concerns over the conduct of the company's affairs. Oxigen claims that books and records were removed or destroyed, monies may be missing, and cash payments were made improperly. It further alleges that septic tank jobs invoiced at €250 were charged at one cent, leaving cash unaccounted for, and that company monies were used for personal expenses. Oxigen also claims AWD is insolvent with debts exceeding €490,000 and sought the appointment of a provisional liquidator. The respondents, Shane Byrne and his brother William, deny all wrongdoing, stating the actions are intended to force them to sell their 49% shareholding and damage their reputations. They assert the company is solvent. The brothers indicated they were prepared to offer €1.5m for Oxigen's 51% stake. Additionally, Oxigen had withdrawn the waste permit held by AWD following a €500 fine for a breach of conditions, a move the brothers described as an attempt to strangle the business. Following talks, the permit was reinstated. Mr Justice Michael Quinn agreed to adjourn the application to appoint a provisional liquidator to Wednesday of next week to allow the settlement talks to proceed.

Who, what, where, when and why

What: Report matter: Shane Byrne and brother prepared to offer €1.5m for waste company shares, court hears. Procedural stage: charge_or_pretrial

When:

• 2020-04-29 Publication

Why: The brothers deny any wrongdoing and say the actions have been brought because Oxigen wants to force them to sell their shares in AWD and cause maximum damage to their reputations. CNI source report

Case subjects

Places mentioned

Topics

Stage Charge Or Pretrial

Related court reports

• 'Alternative dispute resolution': man arranged 'straightener' during which dad-of-seven was stabbed to death
• Serial burglar jailed for stealing from restaurant lockers
• 'He's an adult and well able to take responsibility' - Judge gives man time to compensate ex for damage to property
• Domestic violence accused loses habeas corpus appeal
• Brothers attacked man in toilet cubicle after Tyson Fury match 'banter'
• Murder accused pleads guilty to violent disorder at playground

Read the original CNI report