The High Court yesterday appointed a provisional liquidator to one of Ireland’s oldest car rental businesses, Murray’s Rent-A-Car.
The company, with more than 60 employees, sought to be wound up after a proposed €34 million deal to sell development property to supermarket chain Superquinn fell through and following Bank of Ireland’s decision in recent days to demand repayment of €500,000, the court heard.
As a result of that, the company is insolvent. Its main creditors including Bank of Ireland, Permanent TSB, the Dublin Airport Authority and Revenue Commissioners.
Mr Justice Roderick Murphy confirmed the appointment of Ken Fennell as provisional liquidator after being told the firm was insolvent and unable to pay its debts. Mr Fennell was also granted powers to continue the firm’s business and the judge returned the matter to later this month.