Proceedings to prevent the "purported completion" of the sale of the Bula lead and zinc mine in Co Meath were initiated in the High Court yesterday by Bula Ltd, in receivership; Bula Holdings; and Bula directors Mr Michael Wymes and Mr Richard Wood.

On June 20th a High Court judge, Mr Justice Murphy, directed that the sale to neighbouring mining firm Tara Mines for €35 million could proceed. After that decision, Mr Wymes said they would consider an appeal to the Supreme Court.

Yesterday, Mr Justice Murphy was told the plaintiffs were now seeking injunctions against the receiver of Bula Ltd, Mr Laurence Crowley, and against Tara Mines Ltd.

They want an injunction restraining the defendants exercising any rights as vendor and purchaser under "a purported completion" on July 12th last of a contract dated May 9th last. The plaintiffs want the injunction to continue, pending the determination by the Supreme Court of an appeal against Mr Justice Murphy's decision approving the sale of the Bula mine.

The plaintiffs are also seeking orders directing that Tara Mines refrain from entering onto or into or extracting minerals from the Bula mine and restraining the receiver from dealing with the proceeds of such purported sale, pending the determination of the Supreme Court appeal.

Mr Justice Murphy, who was told that an appeal had been lodged on July 2nd against his High Court judgment, gave leave to the plaintiffs to serve notice on the defendants of their intention to seek the injunctions next Monday.

The judge said the matter should be dealt with expeditiously.

When approving the sale last month, the judge said the receiver believed the Tara offer represented the best available price for the mine in all the circumstances and was by far the best offer that it had been possible to obtain following an extensive and exhaustive marketing campaign.