Tower Trade Finance Ireland wound up after scheme rejected

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

Tower Trade Finance Ireland Limited and Deal Partners Logistics Ltd were wound up by the High Court on 15 May 2023, and Declan McDonald was appointed liquidator.

The companies had entered examinership earlier in 2023. Tower Trade Finance Ireland’s creditors rejected its proposed survival scheme; a scheme for Deal Partners Logistics had been agreed, but both were required for the process to continue.

The two firms were insolvent and unable to pay debts of more than €13 million. The report said their financial difficulties followed the collapse of JACC Sports Distributors.