Squash (Ireland) Ltd. , Re [2001] IESC 200; [2001] 3 IR 35 (8 February 2001)

Squash (Ireland) Ltd. , Re [2001] IESC 200; [2001] 3 IR 35 (8 February 2001)

The appellants acted honestly and responsibly throughout their tenure as directors, sought and followed professional advice, and their conduct in relation to the subscriptions, while open to criticism, did not amount to irresponsibility under s.150(2)(a) of the Companies Act 1990. The High Court order restricting them was not justified.

Citation
[2001] 3 IR 35
Parties
Appellant: David Balbirnie; Appellant: Trevor Watkins; Respondent: Joseph Moreau
Jurisdiction
Ireland
Judgment Date
08 February 2001
Procedural Posture
Company Law Appeal / Appeal From High Court Order Under S.150 Companies Act 1990
Outcome
appeal allowed
Legal Topics
Director Restriction, Responsibility of Directors, Insolvency, Companies Act 1990 S.150
Company Law Insolvency Director Restriction Responsibility of Directors Companies Act 1990 S.150

Case Brief

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Parties

David Balbirnie

Appellant

Trevor Watkins

Appellant

Joseph Moreau

Respondent

Procedural Posture

Company Law Appeal / Appeal From High Court Order Under S.150 Companies Act 1990

Legal Issues

  1. 1 Whether the appellants acted responsibly as directors under s.150(2)(a) of the Companies Act 1990
  2. 2 Whether the sending of subscription requests after knowledge of impending liquidation amounted to irresponsibility

Ratio Decidendi

The appellants acted honestly and responsibly throughout their tenure as directors, sought and followed professional advice, and their conduct in relation to the subscriptions, while open to criticism, did not amount to irresponsibility under s.150(2)(a) of the Companies Act 1990. The High Court order restricting them was not justified.

Court Disposition

appeal allowed

Orders

  • High Court order restricting appellants under s.150 Companies Act 1990 reversed