The High Court has dismissed a petition to wind up Green D Project Ireland Limited, finding that Green Biofuels Limited (in administration) had not established that the company was unable to pay its debts. The court also found a culpable and material non-disclosure concerning whether Green Biofuels had transferred a debt it claimed was owed by Green D. It has yet to hear the parties on further orders, particularly the position of the joint provisional liquidators.
High Court dismisses Green D winding-up petition over disputed solvency evidence
The court said the petitioner had not proved Green D Project Ireland Limited was unable to pay its debts and found a material non-disclosure over whether a claimed debt had been transferred. Further orders concerning the provisional liquidators remained to be heard.
Who, what, where, when and why
- Who
- Green D Project Ireland Limited
- Green Biofuels Limited (In Administration)
- What
The court said the petitioner had not proved Green D Project Ireland Limited was unable to pay its debts and found a material non-disclosure over whether a claimed debt had been transferred. Further orders concerning the provisional liquidators remained to be heard.
- Where
No place detail is included in this summary.
- When
Judgment:
- Why
Reasons reported in the judgment
The High Court has dismissed a petition to wind up Green D Project Ireland Limited, finding that Green Biofuels Limited (in administration) had not established that the company was unable to pay its debts. The court also found a culpable and material non-disclosure concerning whether Green Biofuels had transferred a debt it claimed was owed by Green D. It has yet to hear the parties on further orders, particularly the position of the joint provisional liquidators.
Read the original court judgment
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