A High Court judge yesterday lifted an injunction which had restrained dissipation of assets by three men and the company of which they are directors. He lifted the order after £100,000 was lodged in court and certain undertakings given.
Mr Justice Kearns discharged the order against Aviation Display Limited (ADL), of which Mr Noel Thompson, Mr Kieran Dolphin and Mr Martin Anthony Fitzgerald are directors. All three were former directors of a Shannon-based aircraft parts company, Aerospares Ltd, which ceased trading in February 1998.
Aerospares had obtained an injunction against the three and against ADL, restraining them from disposing of or dissipating any monies received from Nigeria Airways Ltd and Turkmenistan Airlines Air Company.
Yesterday Mr James Connolly SC, for the three men and ADL, said his solicitor had now handed a cheque for £100,000 into court. His clients, including the company, had also filed affidavits setting out their assets, which far exceeded the £250,000 level set by the court.
They also undertook not to dissipate any assets for the purpose of defeating any judgment of the court and certain shares which they held in Aerospares Industries Plc would also not be disposed of.