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Building firm has liquidation confirmed

 

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The High Court has confirmed the appointment of a liquidator to a construction and plant hire business.

Mr Justice Max Barrett yesterday appointed chartered accountant Anthony Fitzpatrick as official liquidation to Brandon Plant Hire Ltd, which is insolvent to the tune of €934,000.

Mr Fitzpatrick was appointed in a provisional capacity to the firm, that employed 30 people, by the court last month. There were no objections to the application.

The company had been involved in both the plant hire business and the provision of substructures and groundworks on building sites.

The company's members petitioned the court for the provisional liquidator's appointment, so that its assets will be secured and their proceeds properly distributed to the Trim, Co Meath-based firm's creditors.

It had been working three projects when it sought the winding-up order. Its main customer on several major contracts had been Cairn Homes.

Seeking the order confirming the liquidator's appointment, Ronnie Hudson Bl, instructed by solicitor John Kieran, for the company said the firm had been profitable for many years since it was founded in 1997, and was involved in several major house-building projects.

Counsel said that the company had been experiencing cash flow difficulties. It had hoped that an investor would come on board to help it continue to trade.

Because of Covid-19 the investor was no longer interested in putting money into the firm rendering it insolvent and unable to trade, Counsel said.

Mr Justice Barrett ordered that the firm's director file a statement of affairs.

Irish Independent