Courts / Ireland / Report
€1.1m in orders made against German firm hit by €1.9bn fraud claims
Summary
The High Court granted orders allowing the joint official liquidators of Wirecard Ireland Ltd to return over €1.16 million to Orange and Vodafone, and to release about €800,000 held by the Irish entity that came from VISA and SFR. The orders were made after the court found Wirecard UK and Ireland Ltd insolvent and unable to pay its debts. The liquidators argued that the funds were held in trust for the telecommunications companies and had never been assigned to individual cardholders. They also sought to use €724,780 paid to Wirecard Ireland between 2013 and 2015, and €81,000 paid by VISA, as part of the distribution to creditors. The court approved these reliefs, allowing the specified amounts to be made available to the creditors.
Who, what, where, when and why
What: Report matter: €1.1m in orders made against German firm hit by €1.9bn fraud claims. Procedural stage: hearing_or_decision
When:
- 2013 and 2015 Other
- 2022-07-27 Publication
Places mentioned
- Aodhan O'Faolain The High Court
- The High Court
Topics
Fraud Stage Hearing Or Decision
If a fact, identity, locality or legal outcome needs review, email the newsroom with this report's details prefilled.
Email a correction request