An application to appoint a provisional liquidator to a medical equipment supplier, which featured in an RTÉ television programme that alleged certain senior hospital officials received gifts from suppliers, has been adjourned by the High Court to Monday.
Eurosurgical Ireland Ltd featured in an RTÉ Investigations Unit programme, broadcast last year, concerning alleged breaches of hospital procurement procedures.
The programme alleged the company had given gifts to officials of the HSE in exchange for commercially sensitive information.
On Thursday at the High Court three of the company's shareholder siblings, Gary, Alan and Allison Kane, petitioned the court for the appointment of insolvency practitioner David Van Dessel of Deloitte as provisional liquidator of the company.
Ms Justice Mary Faherty had adjourned the matter to yesterday’s sitting to allow Revenue, which is a significant creditor of the company, to consider the application to have Eurosurgical wound up. When the matter came before Mr Justice Anthony Hunt, the court was told both sides were consenting to the matter being further adjourned to Monday after lawyers for the Revenue had told the court their client would need some time to consider legal documents.
The shareholders, represented by barrister Declan Murphy, want the liquidator appointed so he can conduct an investigation into the sale of the company’s undertaking under an agreement known as a business transfer arrangement (BTA).
Best interest
Under the BTA Eurosurgical has transferred its business undertaking, including its employees, to another entity called Gemini Surgical Innovations Ltd.
The liquidator could determine if the sale, which went ahead on May 1st, was in the best interest of the company and its creditors. It was the shareholders’ case that the winding-up of the company was just and equitable.
The liquidator could also conduct an investigation into the company’s dealings with Revenue, which the court heard had issued an assessment to Eurosurgical saying it owed €3 million in taxes.
The company which had been in business for many years experienced difficulties after it featured in the RTÉ broadcast.
