Judge satisfied to make a series of orders protecting Bio Marine Ingredients Ireland Ltd from being sued over its debts
Counsel for Americold Ltd said his client was lawfully entitled to change a padlock on the gates and place a truck trailer in front of the facility’s main gate in an attempt to regain possession of its property.A High Court judge has granted a Co Monaghan-based marine biotech company protection from its creditors while it attempts to finalise a rescue plan that will ensure its’ survival.
However, despite the dispute, the court was told the company is now back in possession of the facility, and that the landlord had removed the trailer. In the first application of its kind since the SCARP came into being the company asked the court for various protections, including stays any proceedings against it while the rescue plan is being formulated.
Rolling Wave is providing the company with cash to help cover day-to-day expenses during the rescue period.