Bid to wind up mining company rejected

The High Court has rejected a bid to wind up a mining company headed by entrepreneur John Teeling over claims that it is insolvent.

Connemara Mining plc, whose executive chairman is Mr Teeling, insisted the company was solvent and able to pay its debts.

It had opposed a winding up petition brought by UK mining finance company, Trampus Ltd, which is the largest single shareholder in Connemara at 6.32%.