A LIMERICK account who was appointed as a liquidator of a failed business has been removed from his position by a High Court judge in the first ruling of its kind from an Irish court.
Anthony J. Fitzpatrick of Fitzpatrick & Co, Clonmoney House, Newenham Street, Limerick has been removed by Mr Justice Roderick Murphy from his position where he was charged with the wind up of Ballyrider Limited.
The High Court petition was brought by the office of the Revenue Commissioners after they said they lost confidence in the manner which Mr Fitzpatrick was carrying out his duties.
Mr Justice Murphy found that the liquidation had not been conducted in an efficient and cost effective manner and that the evidence suggested the Limerick accountant has a flawed understanding of the role and duties of a liquidator.
Mr Fitzpatrick was appointed voluntary liquidator to the business, which included the ownership of the Hazel Hotel in Monasterevin in County Kildare, on November 19, 2010.
Ballyrider Limited was set up on Monday August 17, 1987 in Co. Kildare.
The company’s current directors John Kelly and Margaret Kelly have been the directors of two other Irish companies between them; both of which are now closed. Ballyrider Limited has two shareholders.
Following the hearing at the High Court, Mr Justice Murphy found that, given the evidence of the petition put forward, the concerns of Revenue were both genuine and warranted.
Issues surrounding costs of the liquidation and costs incurred were highlighted to have exposed the liquidation fund and that Mr Fitzpatrick could not therefore remain in place as liquidator to the failed firm.
In his ruling, Mr Justice Murphy said that he was aware the effect the removal would have on Mr Fitzpatrick’s professional position but that such damage flowed directly from his own ineffectiveness.
