Net losses at Internet Eireann

 

THE first Irish Internet service provider to go into liquidation had liabilities of £123,594, while its assets - mainly computer equipment - were valued at a mere £3,978.

A stormy creditors' meeting was told on Friday that Internet Eireann went into voluntary liquidation early last month with about 12,000 users. Its creditors included one of its suppliers, SM Communications (which registered a £20,000 judgment against it), the Revenue Commissioners (owed £15,000), the telecommunications company Sprint (£14,500) and the property company Designated Area Development (£7,500).

The creditors at the meeting succeeded in appointing their own liquidator, Desmond Murnane of Murnane, Nolan and Company.