Marco Polo Network Operations enters liquidation over debts

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

Marco Polo Network Operations (Ireland) Limited’s provisional liquidator appointments were confirmed at the High Court on 6 March 2023, as the company entered liquidation over debts exceeding €5.2m.

The company, which provides specialised online payment platforms, had sought liquidators after a proposed US$12m Bank of America investment fell through. Ms Justice Eileen Roberts confirmed Ken Fennell and Andrew O’Leary of Interpath Advisory Services as liquidators; there were no objections to the application.

The liquidators had spoken with employees, creditors and customers and taken steps to keep the platforms operating. They reported several expressions of interest in the company’s assets, and formal bids were expected shortly.