Manor mart looks to be saved after over €100k raised
Manorhamilton Mart looks close to being saved after fears it could be wound up.
The mart has been before Sligo District Court which heard Manorhamilton Livestock Sales Ltd at Station Road didn't have a licence and the Property Services Regulatory Authority had concerns over tax compliance and a deficit in the client account. The body has the power to go to the High Court and close the mart.
The case was adjourned from a previous sitting upon the application by Mr Gerard McGovern, solicitor (for the mart) who had sought time to "get matters across the line."
The court was told it was the only mart in the country which was operating without a licence and that since July 2012 it was required to have one.
The previous court was told the regulatory body had serious concerns regarding the client account. A substantial amount of money was owed to the mart by creditors.
Mr Noel Whelan BL (for the PSRA) told last Thursday's court that "significant progress" had been made since the matter was last in court in January but that "it wasn't enough."
However, he was prepared to agree to a further adjournment on the basis that €115,500 would be lodged by Mr McGovern by close of business on last Friday. A further sum of €56,00 was to be lodged by April 20th.
The case was then adjourned by Judge Kilrane to April. It is understood that the money raised by the mart is not as a result of a share capital drive as had been mentioned at previous sittings of the court. It is also believed tax clearance certificates have been obtained.