Marketing agency to major firms can’t pay its debts

A marketing agency, whose clients include some of the country’s biggest firms, is unable to pay its debts, the Circuit Civil Court was told yesterday.

Barrister Ross Gorman told Judge Sinéad Ní Chúlacháin that the website design company Huguenot XMi Ltd, through its Cork-based directors, Daniel Noel Coughlan MD and Dan Byrne, was seeking court protection from its creditors while a financial rescue plan was sought. Mr Gorman said Mr Coughlan, of Foxford Drive, Garryduff, Cork, and Mr Byrne, of Merton Lodge, Model Farm Rd, Cork, were asking the court to put the company in examinership, as it was insolvent.

Judge Ní Chúlacháin granted the company’s request and appointed Joseph Walsh, chartered accountant with Hughes Blake, as interim examiner to draw up a survival plan to save the company and the jobs of its 14 employees.