Liquidation dispute

A dispute between two accountants over which of them has been validly appointed as liquidator to a transport company has been adjourned by the High Court to September.

Last week, the High Court granted chartered accountant and insolvency practitioner John O’Connell a temporary injunction preventing Peter Russell, also a chartered accountant and insolvency practitioner, & from acting as liquidator of Managh International Transport Ltd.

Mr O’Connell is also seeking a declaration that he is the liquidator.

The company’s directors dispute Mr O’Connell’s claim and sought a declaration from the court that Mr Russell be confirmed as liquidator.

Yesterday, Ms Justice Mary Laffoy was told the injunction could be lifted as both Mr Russell and Mr O’Connell had undertaken not to act as liquidator until all matters have been determined by the courts.