Irish PayPal subsidiary left with €265m after liquidation

An Irish subsidiary of PayPal has cashed in to the tune of over $302m (€265m) after going into voluntary liquidation.

The Dublin-based PayPal International Ltd acted as a holding company for a number of Paypal subsidiaries. Documents filed with the Companies Office, confirming that it has gone into voluntary liquidation, show that, in a declaration of solvency after all debts are paid in full, the firm will be left with a surplus of $302m.

The surplus is made up of investments of $232.58m and cash of $70.24m. Along with acting as a holding company, the firm — established here in 2013 — also held the excess group cash funds, provided loans to related parties and held investments in money market funds.