Vol. 504 No. 5
75 Mr. Callely asked the Tánaiste and Minister for Enterprise, Trade and Employment further to Parliamentary Question No. 104 of 3 February 1998 the progress on the liquidation of a club (details supplied) in Dublin 3; and if she will make a statement on the matter. [12309/99]
On 23 December 1997 a receiver was appointed to Squash (Ireland) on foot of a debenture held by Lower Mount Limited, previously known as Lower Mount Nominees Limited.
An application was subsequently made to the High Court on 26 January 1998 on foot of a petition of one the company creditors seeking the appointment of a liquidator. This petition was granted at a court hearing on 9 March 1998 with the appointment of Mr. Joseph Moreau, Byrne Moreau Connell, 77 Strand Road, Sandymount, Dublin 4, as the official liquidator. As the court has appointed the liquidator, I have no function in the matter, at this stage.
The liquidator is now liquidating the assets of the group of companies to pay their admitted debts. The order of priority of payment is determined by the Companies Acts and is subject to the supervision of the High Court. Among his duties will be the responsibility to inquire into the reasons for this company failure and to report to the court. In addition, the liquidator is obliged to file a copy of his accounts in the companies registration office which will then be available for public inspection, on payment of the appropriate fee.
