High Court petitions to have P Elliott wound up are withdrawn
TWO High Court petitions seeking to have the construction firm P Elliott and Co Ltd wound up have been withdrawn as a result of a receiver being appointed to the company.
Yesterday at the High Court, Ms Justice Mary Laffoy was informed that William Cox Ireland and Oran Precast, who are both creditors of P Elliott, wished to withdraw their applications to have the Cavan-based firm put into liquidation following last week's announcement that Kieran Wallace of KPMG had been appointed receiver.
Both firms had claimed P Elliott was insolvent and unable to pay its debts.
Noting the appointment of a receiver, the judge said that in light of what had occurred she was prepared to grant the firms leave to withdraw their petitions.
In a separate petition due before the High Court next week, MCR Personnel, which specialises in the recruitment of professionals for the construction industry, claims that it demanded payment of more than €1.7m from P Elliott late last year for services it says it provided for the construction firm over a six-year period.
In addition, a sub-contracting firm OMC Engineering had served a 21-day notice on the company seeking payment of €100,000 due for work carried out on a number of projects.
P Elliott and Co, with a registered address at Century Business Park, Dublin Road, Cavan, was one of the Ireland's biggest construction firms.