The High Court has confirmed the appointment of Tom Kavanagh as liquidator to the Belgard Motors Group based in Tallaght
The firm, which employs 82 people having laid off 37 earlier this year, is insolvent with debts of more than €17 million.
Last month, the High Court appointed Mr Kavanagh provisional liquidator after being told there was a need to secure valuable and movable stock.
The Belgard group consists of five companies, a holding company, J.D.Brian Ltd, trading as East Coast Print and Publicity and five subsidiaries — J.D. Brian Motors trading as Belgard Motors; J.D. Brian Services Ltd; Autoplatz Ltd, trading as Porsche
Centre, Dublin; and East Coast Car Parts Ltd.
Yesterday, Bernard Dunleavy, for the liquidator, said his client had received a offer for East Coast Car Parts Ltd and was seeking to be allowed continue the trade of that business until February 8th.
Ms Justice Mary Laffoy confirmed Mr Kavanagh’s appointment as liquidator and granted him power to continue the trade of East Coast Car Parts. She also directed the directors of the Belgard Group to file a statement of affairs in court by January 15th.
The court heard previously the projected turnover for the group this year was €27 million, down 56 per cent from €62 million last year and from €69 million in 2007. New car sales in 2008 were 1,585 but were just 555 last August while used car sales dropped from 1,203 in 2008 to 591 last August, the court heard.
