Court told of business collapse

A British businessman told the High Court yesterday that if he could have foreseen the extent of the problems he faced when setting up a printing plant in Kilkenny for "smart" plastic and magnetic cards, he would have looked to the UK instead.

Mr John Pryke, of Clopton, Suffolk, was giving evidence on the third day of an action for more than £2 million in damages by himself and others against the Industrial Development Authority over the collapse of the Kilkenny-based company in December 1995.

It is alleged the failure of the company was caused by negligent misrepresentation by the IDA that a suitable premises and skilled workers were available.

The action is being taken by Mr Pryke, his wife Ann, father Victor and Mr Jeremy Adam, of Redhill Grange, Wellingborough, Northants, all promoters of Card Technology International Limited (CTI), which operated from 1994 to December 1995 at the Industrial and Business Park in Purcellsinch, Co Kilkenny.

Mr Pryke said his company had to ask the Bank of Ireland to appoint a receiver to the business in 1995 because of a major delay and an overrun in building costs