However, investors in the company are concerned about the way the firm has been run and about its plan to go into voluntary liquidation.
Arising out of his concerns about a proposal to again seek to wind up the company, one investor, and a creditor of GWD, has petitioned the court to appoint insolvency practitioner Declan de Lacey, of PKF O’Connor Leddy Holmes, as provisional liquidator. He says he was offered and accepted a series of replacement contracts in 2017, which he claims resulted in GWD acquiring plantations of ‘Bixa Orellana’ trees, Poplars and Christmas trees in Canada and Brazil on his behalf.
It is claimed Mr Taylor told the meeting that as the sole member it was decided that due to its liabilities the company was to be wound up voluntarily. He said he was told that the company collapsed as far back as 2018 due to the actions of individuals placed in a position of trust. Some of the company’s assets may no longer exist while others may have been moved into a network of loosely connected companies, it is alleged.
Source: Law Daily Report (lawdailyreport.net)
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