Bula Resources wound up on High Court order

Bula Resources is to be wound up on the order of the High Court, on a decision made yesterday.

The order was sought by Computershare Investor Services (Ireland).

The group is owed €200,000 for services provided to the firm over the past six years.

Computershare's solicitor said in an affidavit to the court that his client had held off because of an assurance that Bula was due to receive inward investment.

This would have put Bula in a position to refinance itself, but there had been no confirmation that the refinancing had come through.