THE HIGH Court has lifted an order winding up a construction company of developer Thomas McFeely after being told the company had paid a debt of €140,000 to the Revenue Commissioners.

The order winding up Coalport Building Company Ltd, Holles Street, Dublin, was vacated yesterday by Ms Justice Mary Laffoy after the Revenue said it was withdrawing its petition for the winding up of the company.

The judge adjourned the matter to allow two other parties, who claim they are owed money by Coalport, to consider if they wish to take over the Revenue’s petition.

Last month, the court appointed a liquidator to Coalport after being told the company had failed to satisfy a Revenue demand for €144,000 in unpaid VAT and PRSI. The Revenue had petitioned the court to have the company wound up on grounds its demand had not been satisfied and it was of the view Coalport was insolvent and unable to pay its debts.

Mr McFeely and his brother Noel are directors of the company.

Following the High Court’s decision, the company appealed the order to the Supreme Court. When the matter came before that court last week, it was told the Revenue wished to withdraw its petition. The court heard Coalport had paid the amount sought by Revenue and the matter was sent back to Ms Justice Laffoy yesterday.

The judge vacated the wind-up order and adjourned the matter for a week to allow MCR Personnel Ltd and Theresa McGuinness time to consider taking over the petition.

Ms McGuinness, an office manager, Brook Lane, Rush, Co Dublin, has claimed she has not received €350,000 owed by Coalport following her High Court action against the firm in 2009. MCR alleges Coalport has failed to satisfy a debt due to it of €40,000.