Injunctions continued against directors

The High Court yesterday continued temporary injunctions against the directors of a company which operated a bonded warehouse in Dublin until it went into liquidation last October. It has been claimed the company owes the Revenue Commissioners more than £2 million.

One of the joint liquidators of Eastland Warehousing Ltd, Mr Tom Kavanagh, told the court in an affidavit last Wednesday that it appeared very large sums of money had been misappropriated over the years by the directors of the company and stored in a secret account in the First National Building Society. He said the account was not made known to the company's auditors.

Mr Justice Kelly heard Eastland's joint liquidators have been informed by Customs and Excise representatives that Revenue Commissioners and Customs investigations which were continuing indicated a Revenue liability of well in excess of £2 million.

On Wednesday, he granted temporary injunctions to the liquidators, Mr Kavanagh and Mr Paul Wise, against Eastland's directors - Mr Joseph McNamara, Clonkeen Crescent, Kill of the Grange, Dun Laoghaire and Mr John McDonnell, Rathbeale Crescent, Swords - and against HJS Ltd, of which Mr McNamara and Mr McDonnell were stated to be directors. The orders restrain the defendants from reducing their assets in this jurisdiction below £2 million until further order and also restrain the two directors from reducing their shares in HJS below £2 million.

Yesterday, Mr Justice Kelly said he would continue the orders to April 20th next.