The High Court last night appointed a provisional liquidator to technology firm Ebeon, based in Dublin, on the application of Irish Telecommunication Investments plc, which claims to be owed more than £8.8 million (€11.2 million) on foot of loans made to Ebeon.

Irish Telecommunications Investments is a subsidiary of Eircom, the majority owner of Ebeon.

The application was made after the court was told the Sheriff had gone to Ebeon's headquarters in Sandyford, Co Dublin, during the day to secure the premises on behalf of another creditor, the Revenue Commissioners, following claims that several creditors had gone to the premises to seize assets.

Dublin accountant Mr David Hughes, of Ernst & Young, was appointed provisional liquidator and the case was adjourned to February 12th.

Mr David Barniville BL, for Irish Telecommunications Investments (ITI), said it had presented a petition to have a liquidator appointed last evening.

The sum was now due and owing and had not been repaid.

Counsel said the application was being made on information received from the solicitor for ITI and one of its directors.

There was a very real concern about Ebeon's assets.

Mr Barniville said the solicitor had information that the Sheriff had been sent to the premises by one creditor, the Revenue Commissioners.

The solicitor had been informed that the premises had been secured temporarily by the Sheriff but that a considerable number of creditors had made attempts before the arrival of the Sheriff to extract assets from the company.

Mr William Day, of Arthur Cox and Co, solicitors for ITI, said his office had been contacted by the Sheriff to say he had secured Ebeon's premises.

Mr Gerry McGinnity, a director of ITI, said in an affidavit, he had been told by two Ebeon directors that a board meeting was held on Thursday at which a resolution was passed that the company would cease to trade.

Among Ebeon's assets are its shareholdings in several British and US subsidiaries.

He was fearful an Ebeon liquidator would take 10 to 14 days and that Ebeon's assets were under threat.

Appointing Mr Hughes as provisional liquidator, Mr Justice Finnegan said he was doing so to collect, preserve, protect and secure Ebeon's assets.

The assets included computer hardware, software - including software under development - and stock.