A enterprise involved in the renewable power sector has secured a temporary Superior Courtroom injunction preventing yet another agency bringing a petition to have it wound up over a disputed alleged debt of €1.2m.
The interim injunction was granted in favour of Welink Financial commitment Holdings Eire Ltd, in opposition to Sustainable Development Money LLP.
Trying to find the orders Stephen Dowling Bl for Welink mentioned his shopper is a component of a team of companies involved in the photo voltaic electric power field and has 87 employees.
There was a dispute with the defendant, which invests in renewable electricity initiatives, above a purported credit card debt of €1.2m which counsel mentioned is vigorously denied” by his customer.
Counsel reported Welink is completely solvent, but the defendant experienced knowledgeable it that it would look for to have Welink wound up if the alleged financial debt was not compensated.
His consumer is involved about the harm the business might sustain to its name, its latest initiatives and its capacity to draw in funding and investment decision if an software to have it wound up is introduced.
Counsel stated it is also his client’s case that any dispute in between the events over the purported debt need to have been decided just before the Uk courts.
Counsel explained Welink had sought undertakings from the defendant’s authorized associates not to deliver a petition seeking to have Welink wound up.
No undertakings ended up specified, and Welink had no alternative other than to appear to court docket and seek an injunction.
The injunction was granted, on an ex-parte basis, by Ms Justice Leonie Reynolds on Tuesday. The circumstance will come again before the court afterwards this week.
The Judge also claimed that she hoped the parties would think about mediating the dispute.