AN action in which the liquidator of Iona National Airways Ltd sought to have the company's directors prohibited from being appointed directors of any company for five years, was adjourned in the High Court yesterday.

Mr Liam Dowdall, BDO Simpson Xavier chartered accountants, the liquidator, sought the order against Mr Pearse Cahill, Ms Constance Cahill, Mr Hugh Cahill and Mr Peter Cahill.

Mr Justice Murphy raised the point that the matter should perhaps be given greater consideration in order for justice to be done. Mr Shane Murphy, counsel for Mr Dowdall, said that he was be anxious for an adjournment. The liquidator would be considering what proceedings should be taken.

The company was wound up by High Court order on January 16th, 1995, on the petition of the Revenue Commissioners who claimed the Revenue was owed £623,977.

In October 1994, Mr Tom Grace was appointed examiner of the company on the petition of the directors when the court was told that part of the company was considered capable of survival as a going concern.

However, in December that year, the examinership was withdrawn when Mr Grace told the court that it was impossible to obtain investment for the company in the time allocated under the Companies Act 1990.