The High Court made an order yesterday for the winding up of Tralee Beef and Lamb. The court was told farmers who supplied the firm claim to be owed about €6 million (£4.7 million). Mr Justice Lavan appointed Dublin accountant Mr Tom Kavanagh as official liquidator and ordered two directors, Mr John and Ms Patricia Daly, to prepare a statement of affairs. The firm operated from premises in Tralee, Co Kerry.

The IFA had nominated another accountant, Mr Ray Jackson, to be liquidator. The ICMSA proposed that Mr Michael Long should be appointed, while BES investors proposed Mr Kavanagh.

Mr Justice Lavan said no objection had been raised by the parties to Mr Kavanagh's fitness to act, and he was satisfied the company should be wound up and Mr Kavanagh appointed as liquidator.

The winding up petition was brought by CF Investment Managers, Upper Mount Street, Dublin, a creditor who was manager of the BES investments in the Tralee company and representing the BES shareholders.