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Jobs at risk as provisional liquidator appointed to Cork chemical firm
Summary
The High Court, on 29 January 2016, appointed Neil Hughes and Joseph Walsh of Hughes Blake as joint provisional liquidators for Innovation Enterprises Ltd, a Cork-based chemical manufacturing firm employing 31 people. The appointment followed a request from Ross Gorman Bl, who argued the company was "hopelessly" insolvent after its Swiss parent, Orphee SA, withdrew support. Innovation Enterprises, which produces and sells 200 chemical reagents to hospitals, laboratories and other businesses, had been loss‑making and could not meet its debt obligations or pay its wage bill due at the end of the month. Counsel noted the firm had failed to secure additional investment and that the provisional liquidators were required to preserve assets and monitor hazardous chemicals that must be stored at specific temperatures to remain usable. The case is scheduled to return to the court in February.
Who, what, where, when and why
What: Report matter: Jobs at risk as provisional liquidator appointed to Cork chemical firm. Procedural stage: hearing_or_decision
When:
- 2016-01-29 Publication
Places mentioned
- The High Court
- Co Cork. The High Court
Topics
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