THE sale of Tipperary Crystal has been completed but there may be an application asking to set it aside, the High Court was told yesterday.
Three of the original investors of Crystal Designs of Tipperary Ltd, Ballynoran, Carrick-on-Suir, Co Tipperary, had intended to apply to join the company's receiver in an action preventing the sale of the assets of the company or, if the sale had already been completed, for an order setting aside the sale and for a liquidator or examiner to be appointed.
Yesterday, Mr John O'Kelly, counsel for the investors, told Mr Justice McCracken he understood the sale had in fact been completed and he might be asking the court to set aside the sale. He asked for a week's adjournment.
Mr Richard Nesbitt SC, for the receiver, Mr John McStay, said he had no objection. He said the company had been sold and the proceeds were going to the debenture holder.
Mr Justice McCracken said there was no application to set aside the sale at the moment He would adjourn the matter until Monday, November 11th.
The three investors are Mr Oliver Walshe, of The Forge, Ballymacague, Dungarvan, Co Waterford; Mr John Maher, of Bridge Street, Carrick-on-Suir, Co Tipperary and Mr Philip Walsh, of Crescent Drive, Hillview, Waterford. All are former employees of Waterford Glass.
