Grace (Liquidator) v. Kachkar & Ors [2005] IEHC 63 (21 February 2005)

Grace (Liquidator) v. Kachkar & Ors [2005] IEHC 63 (21 February 2005)

Mr. Kachkar and Mr. Carrigan failed to discharge the onus of proving they acted responsibly as directors, particularly in relation to the supervision and control of the financial affairs of the Irish Miza Group, including the appropriateness of inter-company transfers and the granting of security while insolvent, thus the court is bound to make declarations of restriction against them.

Citation
[2005] IEHC 63
Parties
Applicant: Tom Grace; Respondent: Jack Kachkar; Respondent: Robert McClellan Carrigan; Respondent: Mary Buckley
Jurisdiction
Ireland
Judgment Date
21 February 2005
Procedural Posture
Application Under Companies Acts (s.150, S.56) / High Court Judgment on Application for Declaration of Restriction
Outcome
Declarations of restriction made against Mr. Kachkar and Mr. Carrigan under s.150 of the Companies Act, 1990.
Legal Topics
Director's Duties, Restriction of Directors, Liquidation, Corporate Governance, Intra Group Transactions
Company Law Insolvency Director's Duties Restriction of Directors Liquidation Corporate Governance Intra Group Transactions

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Parties

Tom Grace

Applicant

Jack Kachkar

Respondent

Robert McClellan Carrigan

Respondent

Mary Buckley

Respondent

Procedural Posture

Application Under Companies Acts (s.150, S.56) / High Court Judgment on Application for Declaration of Restriction

Legal Issues

  1. 1 Whether Mr. Kachkar and Mr. Carrigan acted responsibly as directors of the Irish Miza Group companies under s.150 of the Companies Act, 1990

Ratio Decidendi

Mr. Kachkar and Mr. Carrigan failed to discharge the onus of proving they acted responsibly as directors, particularly in relation to the supervision and control of the financial affairs of the Irish Miza Group, including the appropriateness of inter-company transfers and the granting of security while insolvent, thus the court is bound to make declarations of restriction against them.

Court Disposition

Declarations of restriction made against Mr. Kachkar and Mr. Carrigan under s.150 of the Companies Act, 1990.

Orders

  • Declarations of restriction against Jack Kachkar and Robert McClellan Carrigan as directors under s.150 of the Companies Act, 1990.