Two associated technology companies went into liquidation yesterday with estimated collective debts of almost €3.5 million.
Creditors of Paracletes Technologies Limited and YBN International (Ireland) Limited heard at meetings in Dublin that Edward Walsh had been appointed as liquidator to both companies.
The two firms were involved in the development of third-generation technologies for mobile phones. They are understood to have had a particular focus on religious streaming.
The larger of the overall debts relates to YBN International, which has a deficit of €2.2 million, according to a statement of affairs circulated yesterday.
In mid-July, the company was the subject of a claim taken by recruitment firm HRM, which obtained a €31,000 judgment against YBN International.
At that stage, the Circuit Court issued warrants for the arrest of Esther Crownborn and Deborah King, whom the court considered to be directors of the company.
The two women had, HRM said, been told by the court to attend to face cross-examination to ascertain the income of the company. HRM's solicitor said at the time that they had failed to turn up. Companies Office documents show, however, that Ms King had resigned from her role as director and company secretary of YBN at the end of May.
At that stage, she was replaced by business administrator Faith Fisher. Ms Fisher replaced Ms King as director and company secretary at the same time.
Neither Ms Crownborn nor Ms King were present at yesterday's creditors' meetings. Ms Fisher, who was advised by solicitors Lavelle Coleman, represented the directors of the company.
The estimated statement of affairs for YBN International shows that, as of yesterday, the largest unsecured creditor was Ms Crownborn, who is owed almost €2 million.
Recruitment firm IT Talent is listed as being owed €130,286, although this sum is disputed by YBN's directors. HRM is listed as being owed €31,666. Other listed creditors include Brightwater, another recruitment firm, and public relations company Murray Consultants.
The largest unsecured creditors at Paracletes were listed as being Ms Crownborn and David Crownborn, who together are owed more than €800,000 by the company according to the statement of affairs.
