Treasury wind-up petition delayed

KBC Bank’s application to have Treasury Holdings and 15 related companies wound up has been adjourned to later this month.

Lawyers for the bank told the High Court yesterday that it made a demand for the payment of €30m on the developers and 15 related companies which it claims it is owed arising out of loans advanced for the development of the Spencer Dock project in Dublin.

Due to the firm’s alleged failure to satisfy the demand, the bank claims the firms are insolvent and unable to pay its dues.