The directors of Lancefort Co Ltd, now in liquidation, the company which pursued costly and unsuccessful legal proceedings to halt Treasury Holdings plans to build an office block and hotel in Dublin city centre, were ordered by the High Court yesterday to pay Treasury's costs in yet another legal dispute.
The latest saga arose from Lancefort being struck off the Register of Companies. Treasury claimed the liquidator nominated by it to wind up Lancefort could not act until the company was restored to the register.
Mr Justice Kelly granted Treasury's petition for Lancefort's restoration and ordered Lancefort's directors, Mr Ian Lumley, Henrietta Street, Dublin, and Mr Stephen Smith, Shanganagh Vale, Dublin, to make a statement of the company's affairs and to pay the legal costs of yesterday's hearing.
Mr Maurice Collins, for Treasury, said his client's solicitors had asked the directors of Lancefort to complete a form to restore the company, but that had never happened.
Mr Colm MacEochaidh, for Lancefort, said a document handed in last July revealed the company had been struck off although all documents required by the registrar of companies in respect of tax matters had been submitted by Lancefort on May 26th.
It appeared from a letter written by the Revenue authorities to Treasury's solicitors that the company had been struck off not for a failure to make tax returns but for some other purpose.
Mr Justice Kelly said the dispute about the company being struck off was a matter for the directors and the regulatory authority.
The plain fact was they had been asked to sign a form at no expense to them but had not done so.
As a result this petition, with which the Revenue authorities agreed, had had to be brought.