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Dublin firm goes into liquidation
Page 12
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• Dublin-based McQuaid International Transport has been placed in liquidation.
Dilly O'Riordan of PriceWaterhouseGoopers was appointed liquidator at a creditors' meeting in Monaghan.
McQuaid operated for seven years and employed 50 workers using 40 trucks from a base in Dublin port.
It owes more than !Wm; creditors were told that Texaco is the largest creditor—it is owed IRt450,000. Truck leasing companies are owed 1R£550,000, and Revenue is owed about £250,000 in unpaid VAT, Corporation Tax, and PAYE.
Revenue has asked the liquidator to examine alleged transfer of customers and vehicles to a related McQuaid company, JJN Transport, which was set up in 1997 and is also based in Dublin.
Some trucks were transferred from the failed company to JJN Transport, the meeting heard, However, Michael McQuaid, owner of McQuaid International Transport, says JJN Transport is a separate company and any transfers took place over a period of time He adds that other hauliers will be in competition for the failed firm's customer list. McQuaid blames a downturn in the Irish economy and rising costs for the company's failure. McQuaid says he has given personal guarantees to Texaco Nits debt