Court told NSR Engineering Ltd, which has more than 50 employees and subcontractors, was insolvent and unable to pay its debtsMs Justice Carmel Stewart appointed insolvency practitioner John Healy of Kirby Healy as provisional liquidator to the company. Photograph: iStockThe High Court has appointed a provisional liquidator to an electrical contracting company that has more than 50 people working for it on various projects.
The judge was also satisfied that it was in the best interests of all the relevant parties, including its creditors, that Mr Healy be appointed as provisional liquidator. Counsel said that since early 2020 the Covid-19 pandemic has had an “extreme effect on the company”. Its workers and subcontractors were not able to complete works due to the lengthy lockdown.
The company also experienced difficulties in getting paid for works it had carried out, Mr Walker added.
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Source: IrishTimes - 🏆 3. / 98 Read more »