A MEAT processing firm has been refused an order in the High Court seeking to stop Hibernia Meats (Dublin) from dissipating the proceeds of sale of a Tallaght de boning plant which they bought jointly.
Hand Foods International, Fitzwilliam Square, Dublin, had sought the interlocutory injunction restraining Hibernia, of the same address, until the trial of the action. The proceeds of the sale amount to £380,000.
When the application was made, Mr Eoin McCullough, counsel for Hand Foods, said that in March 1994 the two companies agreed to buy jointly the de boning plant for £315,000. Hand Foods had a 49 per cent shareholding in the joint venture and Hibernia had 51 per cent.
Mr Michael Collins SC, for Hibernia, said the closing date for the sale of the plant was March 5th. No evidence was put forward to suggest Hibernia would dissipate the assets.
On Monday Miss Justice Carroll said there had been no suggestion that Hibernia would be unable to pay damages and she refused the application.
