Creditors' meeting of Irishenco now called

Irishenco, the collapsed construction company, has given notice that a creditors meeting will be held on July 20th where approval for the directors' nomination of Mr Liam Dowdall, of BDO Simpson Xavier, as liquidator will be sought. Irishenco's secretary and financial director, Mr Jerry Cunningham, said that media reports had added to his problems of the collapsed company which owes "under £10 million" to creditors. "We are trying to sell the company, and trying to get the creditors back the money they are owned," he said. He said he did not have an accurate figure for the value of the company's assets, and he was now preparing a statement of affairs for the creditors meeting. "We have work in progress and contracts at a certain stage," he said. The company's bonds, amounting to 25 per cent of its turnover, were held by ICI and Anglo Irish Bank.

Irishenco's turnover in 1997 was £24 million, he added.