A DUBLIN registered shipping business was wound up by order of the High Court yesterday.

Mr Justice McCracken made an order for the appointment of a receiver to Hytide Company Limited which has registered offices at Clanwilliam Terrace, Dublin, and conducts business in Monte Carlo, Monaco.

The petition for the winding up of the company was made by Trans Freight Containers, which has registered offices in Bombay, India.

The company claimed to be owed $3.5 million (£2.1 million) by Hytide.

Trans Freight Containers said they demanded the payment from Hytide in June.

Mr Justice McCracken agreed to the appointment of Mr Ray Jackson of KPMG, Stokes Place, St Stephen's Green, Dublin, as receiver to Hytide.