Courts / Dublin / Report

Forestry firm agrees not to press ahead with creditor's meeting

Summary

An application to wind up GWD Forestry Ltd was adjourned after the company agreed not to hold a creditors meeting. The High Court will consider appointing Mr Declan de Lacey as provisional liquidator later this month. The court also authorised notice to over 400 investors who are creditors. Mr Franco Bertellino, represented by Robert O'Reilly BL, had sought Mr de Lacey's appointment due to concerns over the company's management and its attempts to enter voluntary liquidation in December, which he claimed were not in accordance with Irish law. The company's alleged mismanagement includes claims that its director, Mr Benjamin Taylor, was effectively a front for Mark Raynor, a convicted fraudster, and that the company falsely reported itself as dormant while raising about €30 million from investors. The matter will return on 20 February.

Who, what, where, when and why

What: Report matter: Forestry firm agrees not to press ahead with creditor's meeting. Procedural stage: hearing_or_decision

When:

• February 20th Hearing Or Sentence
• Christmas Other
• 2023-02-02 Publication

Places mentioned

Topics

Stage Hearing Or Decision

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Read the original CNI report