THE High Court is expected to rule next week on moves by the liquidator of the Taylor group of companies to proceed with an application which alleges the wife of missing broker Mr Tony Taylor failed to keep proper books and accounts. Neither Mr Taylor or his wife Shirley, directors of the insurance brokers' companies, have been seen since last August. Around £2 million of investors' funds are unaccounted for.
Mrs Taylor is expected to file an affidavit on Monday replying to one already lodged by Mr Paddy McSwiney, of BDO Simpson Xavier, the liquidator to the Taylor group of companies.
It is understood that, at a High Court hearing two weeks ago, counsel for Mrs Taylor asked for an adjournment so that Mrs Taylor could sign a replying affidavit which would then be lodged in court. It is understood this was the final adjournment which can be sought at this stage.
If Mrs Taylor does not file a replying affidavit, the court will have to decide how to proceed. If one is filed, it is likely that the liquidator will seek an adjournment to consider it.
Under company law, if a director or directors are found not to have kept proper books of account and the company has been wound up, those directors could be found personally liable for the debts or other liabilities of the company.
It is understood that proceeds from the sale of the Taylor's luxury home in Ballsbridge are still lodged in court. The house was sold last December for £585,000. Counsel for Mrs Taylor is understood to have given an undertaking that the liquidator will be given four days' notice of any application by Mrs Taylor to get her share of the proceeds.
The house was sold on behalf of National Irish Bank which was owed around £120,000.
The Garda Bureau of Fraud Investigation is investigating the circumstances surrounding the collapse of the group of companies and a Department of Enterprise and Employment investigation has also been completed. However, it has not been published.
The report followed a six-month investigation into the affair carried out by an officer of the Department.
Earlier this year, Mr McSwiney told the High Court that his investigations showed some of the investors funds were misappropriated across a number of different Taylor companies.
