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High Court: (a) refuses to make a winding up order in respect of a company found by an inspector to have engaged in a fraud on its investors, on the grounds that the company had no assets and no prospect of recovering any assets such that it would not be possible to remunerate a liquidator, and no person had been found who would be prepared to act in that capacity; and (b) adjourns the question of future directions, to include the issue of whether a web hosting service (Google) was bound by a court order to disclose the company's e-mails and other records.
Company law - appointment of inspector to enquire into affairs of company - finding by inspector that company intended to defraud investors - non-existent Christmas trees - whether to wind up company - failure of company and its officers to co-operate with inspector - no access to company records - investments of over €7 million - €1.2 million to shareholder and director of company - €1.5 million to associated companies - no assets in company - further directions.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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