The High Court has appointed a provisional liquidator to the company that publishes Buy & Sell magazine.

Mr Justice Brian McGovern appointed insolvency practioner Neil Hughes provisional lqiuidator of Buzreel Limited, based at Walkinstown Avenue, Dublin. It publishes Buy & Sell and operates the website www.buyandsell.ie

The application was made by Midland Web Printing Ltd, which prints the magazine. Midland is owed more than €90,000 by Buzreel, making it one of the firm’s largest creditors, the court was told.

Ross Gorman BL, for Midland, said it was in the process of investing in Buzreel with a view to taking over Buzreel when it discovered the company was to cease trading.

Midland was concerned, if Buzreel simply ceased to trade, the value of the assets would be greatly reduced and it sought appointment of a provisional liquidator to ensure the magazine continues to be published and the website updated in the short term.

Midland said it believes, if the assets can be sold, some of the jobs at Buzreel can be saved. It was in the best interests of the creditors that Mr Hughes be appointed, the company argued.

The matter will come before the court again later this month.