The director of a Christmas tree planting company has told the High Court that his primary objective is to ensure investors are returned their money.
Mr Hands blamed cash flow problems and transaction delays on Covid-19. He acknowledged some investment returns have been late, but he said “late is not fraud or intention to defraud”. Mr Justice Michael Quinn noted that the hearing was not going to determine any allegations made but would decide if an inspector should be appointed.
His counsel, Frank Beatty SC, with Neal Flynn BL, instructed by Peter Boyle & Co Solicitors, said the alleged issues bringing rise to the application are “significant” and there is a public interest in appointing an inspector. There were “serious” issues regarding the ownership of certain lands, which some of the investors were told they were obtaining an interest in or a partial ownership of, Mr Beatty went on. This included in plantations in Co Offaly and Co Waterford, but the applicant does not believe the company has acquired any lands in Ireland.