High Court orders winding up of Cork construction firm John F Supple Ltd
The High Court has ordered the winding up of construction firm John F Supple Ltd after finding that the company was insolvent and unable to pay its debts.
The order was made yesterday by Ms Justice Mary Laffoy, who appointed accountant Mr Edmond Cahill as official liquidator to the company. John F Supple was established by Barry Supple in 1987. Its registered office is at Bishopstown, Cork.
Mr Peter Russell, the liquidator appointed to Standard Piping Ltd petitioned the court for an order winding up the building firm. The court heard that Standard Piping was owed €75,000 on foot of a judgement it obtained against John F Supple Ltd in January 2012.
A demand for payment of the judgement was made last September. When that demand was not satisfied an application was made to wind up the company and appoint Mr Cahill as liquidator on the grounds it was insolvent and unable to pay its debts.
The court further heard the company has obligations in relation to a bank asset of €20m transferred to NAMA.
Lawyers for NAMA told the court that it was neither consenting nor objecting to the winding up order against the firm. The court also heard that John F Supple Ltd owes MCR Personnel €119,000.
The Judge after making the winding up order directed that the company's directors prepare a statement of affairs. The matter was listed before the Examiners court in February of next year.
