A HIGH COURT judge has described as “utterly outrageous” the fact that she was told earlier this week a construction company was solvent when it was now proposing to seek court protection.

A petition to wind up Laragan Developments Ltd, Strokestown, Co Roscommon, came before Ms Justice Mary Laffoy on Monday, when the judge was told the company was solvent. When the winding up hearing got under way yesterday, the judge was told by counsel for the company it intends to apply to the High Court for the appointment of an interim examiner before the weekend.

Laragan is opposing the winding up order sought by Velfac Ireland Ltd Window Systems, with offices at Citywest, Co Dublin.

Velfac claims it is owed €81,316 for works carried out at Carrickmines Green, Glenamuck Road, Dublin.

The judge said that on Monday she had agreed to adjourn the petition hearing after counsel for Laragan said it wished to oppose the making of a winding up order.

The judge noted that counsel for Laragan had said it was an “open secret” among Laragan’s creditors it would seek to go into examinership. It was “a pity that nobody told me”, she said, and added that Laragan should have been “more open” with creditors.

The judge said she would adjourn the petition hearing to next Monday in the “general interest of the company’s creditors” and “in the public interest”.

Laragan contends the debt to Velfac is €8,400, that it had paid Velfac more than €653,502, and would not discharge any more money until snags were seen to on a project at Carrickmines Green.