Courts / Ireland / Report
Commercial fit-out firm with 31 employees to be liquidated
Summary
The High Court, by Mr Justice Michael Quinn, ordered the liquidation of MAC‑Interiors Limited, a commercial fit‑out firm with 31 full‑time staff and many subcontractors. The company, which owed creditors over €27 million, had entered examinership earlier in 2023. An examiner, Mr Kieran Wallace, had proposed a modified rescue plan involving a new investor and a scheme of arrangement that, if approved, would have allowed the firm to exit examinership and continue operating. The court found it lacked jurisdiction to approve the scheme, citing Revenue's opposition and the withdrawal of a committed investor. Consequently, the examiner's proposal to return the company to solvency was rejected. The court appointed Mr Aidan Murphy as liquidator, noting that Revenue, the largest creditor, accounted for about half of the debt. The liquidation order was made after the examiner could not present revised proposals to the court.
Who, what, where, when and why
What: Report matter: Commercial fit-out firm with 31 employees to be liquidated. Procedural stage: hearing_or_decision
When:
- 2023-10-11 Publication
Places mentioned
- The High Court
Topics
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