Ina's Kitchen Desserts Ltd v The companies Act 2014 (Approved) [2020] IEHC 644 (09 December 2020)

Ina's Kitchen Desserts Ltd v The companies Act 2014 (Approved) [2020] IEHC 644 (09 December 2020)

The court found that the company is not unable to pay its debts as they fall due, and is not balance sheet insolvent in a manner that would justify the appointment of an examiner. The statutory criteria for examinership were not met, and the petition was dismissed.

Citation
[2020] IEHC 644
Parties
Petitioner: Barry Broderick; Respondent: Ina's Kitchen Desserts Limited; Respondent: Starkane Limited
Jurisdiction
Ireland
Judgment Date
09 December 2020
Procedural Posture
Company Law Petition / Judgment on Petition for Appointment of Examiner
Outcome
petition dismissed
Legal Topics
Examinership, Corporate Insolvency, Shareholder Disputes, Debt Restructuring, Government Support Schemes
Company Law Insolvency Law Examinership Corporate Insolvency Shareholder Disputes Debt Restructuring Government Support Schemes

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 4 Authorities cited 6 Party arguments 2 Amounts and remedies 18
Sign in to unlock

Parties

Barry Broderick

Petitioner

Ina's Kitchen Desserts Limited

Respondent

Starkane Limited

Respondent

Procedural Posture

Company Law Petition / Judgment on Petition for Appointment of Examiner

Legal Issues

  1. 1 Whether the company is unable or likely to be unable to pay its debts within the meaning of s.509 Companies Act 2014
  2. 2 Whether there is a reasonable prospect of survival of the company as a going concern
  3. 3 Whether appointment of an examiner is appropriate

Ratio Decidendi

The court found that the company is not unable to pay its debts as they fall due, and is not balance sheet insolvent in a manner that would justify the appointment of an examiner. The statutory criteria for examinership were not met, and the petition was dismissed.

Court Disposition

petition dismissed

Orders

  • No examiner appointed
  • Petition for examinership dismissed