Partners apply to court for Bloxham to be wound-up

Lawyers acting for the partners of Bloxham Stockbrokers have applied to have the firm wound up as the partners see “no prospect of an improvement in Bloxham’s trading position.”

Bloxham last week was ordered to cease trading by the Central Bank after it was revealed the company was undercapitalised. Its largest creditors include NIB bank, who are owed €8.5m, and the Revenue Commissioners who are owed €2.3m, the High Court heard.

Yesterday Mr Justice Kevin Cross said he was satisfied to appoint Kieran Wallace of KPMG as provisional liquidator to Bloxham after being informed the company was insolvent, unable to pay its debts and its liabilities exceeded its assets by €13.9m.