Accountant ruled validly appointed as liquidator

The High Court has ruled that an accountant was validly appointed by the creditors of a transport company as its liquidator.

Mr Justice Sean Ryan held John O’Connell, a chartered accountant and insolvency practitioner, was validly appointed liquidator to Managh International Transport, Farranamanagh, Cashel, Co Tipperary. The company went into voluntary liquidation earlier this year and one of its directors, Stephen O’Keeffe, son of Seamus O’Keeffe, the firm’s managing director and sole member, sought to have Mr O’Connell’s appointment invalidated and to have Peter Russell, an accountant nominated by the company as liquidator, appointed instead.

Dismissing Mr O’Keeffe’s application on all grounds, the judge said the application appeared to be an attempt by Mr Russell to achieve by litigation what he could not achieve by votes at the creditors meeting.