Courts / Galway / Report

Court asked to make directors of animation company liable for €30m in debts

Summary

The Commercial Court has reserved a decision on an application to hold several directors of DQ Entertainments Ireland Ltd personally liable for about €30 million of the company's debts. Mr Justice Mark Sanfey was asked to order winding up of the firm and to make directors Rashida Adenwala, Tapaas Chakravarti and Sanjay Choudhary, all based in India, personally liable for the debt. The receiver, Mr Patrick Bance, claims that the directors knowingly ran the business recklessly, defrauded creditors, failed to keep proper records, misapplied company money and breached trust. The application was heard before the judge on an uncontested basis; no respondents appeared. The judge reserved his decision, expecting to give judgment shortly. The case also noted that proceedings against two Irish‑based directors were struck out.

Who, what, where, when and why

What: Report matter: Court asked to make directors of animation company liable for €30m in debts. Charges or matters: reckless trading; intent to defraud creditors; failure to keep adequate records; misapplication of company money; breach of trust and duty. Procedural stage: hearing_or_decision

When:

• October 2019 Other
• March 2017 Other
• 2010 and 2016 Other
• 2022-06-28 Publication

Case subjects

Places mentioned

Topics

Stage Hearing Or Decision

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Read the original CNI report