Hobbs director of caved company

THE High Court has further adjourned proceedings in which the liquidator of finance company Taylor Asset Managers, which collapsed in 1996, has applied to restrict five of its directors, including financial consultant and TV personality Eddie Hobbs.

The proceedings, brought under Section 150 of the Companies Act, were briefly mentioned before Ms Justice Mary Finlay Geoghegan yesterday and were adjourned to December 11 to allow both sides exchange legal documents. All five respondent directors are separately represented in the case.

Liquidator Paddy McSwiney initiated the proceedings last July after the conclusion of criminal proceedings against Tony Taylor, founder of the Taylor companies. Mr McSwiney is obliged to make such an application, which is procedural, even if he believes some directors acted fairly and honestly.