When a company goes into liquidation there sometimes opportunities for other businesses to acquire assets including IPR. Clearly if you are considering doing so then it is important to be properly advised.
MORE THAN 130 jobs are at risk following the appointment by the High Court of a provisional liquidator to a Co Tipperary based pharmaceutical manufacturing company. Suir Pharma Ireland Ltd, which is located at Waterford Road in Clonmel, and has been making generic medicines for approximately 40 years in the town, is insolvent and is to be wound up. At the High Court on today the company cited losses of €4.9m during the 15 months before March 2015, and a large drop in sales in the US market late last year, for its difficulties. It projects further losses in both 2016 and 2017. Its parent company, Saneca, was not willing to fund the company and it was left with no option other than to apply to the court for the appointment of a provisional liquidator.