Instant Upright Liquidator Secures Freezing Order Over €2.4 Million Debt
An Irish scaffolding company with nearly €2.4 million in debt owed to Revenue allegedly diverted its business operations to a Gibraltar-registered entity to keep assets away from creditors, it has been claimed in the High Court. Adrian García Díaz, the court-appointed liquidator over Instant Upright Ltd, claims customer funds were funneled into a bank account held by a mirror-named company in Gibraltar.
Judge Brian Cregan granted an interim freezing order covering the company’s assets at the High Court. The ruling also permits the liquidator to serve legal proceedings on multiple defendants located outside Ireland, including the Gibraltar corporate entity and five named individuals across Europe and Australia.
High Court Grants Freezing Orders and International Service
The legal action centers on an alleged cross-border asset diversion designed to frustrate creditors. Bernard Dunleavy, counsel for the liquidator alongside Keith Farry, secured the interim freezing order from Judge Cregan during this week’s High Court session. The court temporarily restricted reporting on the case for 48 hours to give the liquidator’s legal team time to pursue parallel freezing orders in Gibraltar.
In a sworn statement to the court, liquidator Adrian García Díaz stated there was a real and substantial risk
that the defendants would dissipate, conceal, or remove money held within the Gibraltar entity’s bank account. Díaz was originally appointed to wind up the Irish scaffolding firm in January following a petition filed by the Revenue Commissioners.
International Defendants Named in Insolvency Proceedings
The court granted permission to serve proceedings outside the jurisdiction on the Gibraltar entity, also operating under the name Instant Upright Ltd, alongside five individuals identified by the liquidator. According to court filings, Robert Stowe of Monaco and Andrew James Haynes of Spain each hold a 50 percent beneficial ownership or shareholding stake in the Gibraltar structure.
The remaining three individuals named in the proceedings are company directors: Joseph Oxley based in Dubai, Serge Marino based in Le Cannet, France, and Graham Donald Croot based in Melbourne, Australia. Díaz noted in his affidavit that he attempted to contact company directors for information regarding corporate affairs but received no response.
Revenue Claims and Outstanding Corporate Debts
The winding-up petition brought by the Revenue Commissioners revealed mounting liabilities alongside the €2.4 million tax debt owed to the state. According to the liquidator’s filings, Instant Upright Ltd also accumulated significant debts to other major creditors, including €30,831 owed to the Electricity Supply Board (ESB), €43,405 owed to RFC Security Ltd, and €2.9 million owed to Korea South East Power Co Ltd.
The matter is scheduled to return to the High Court next week as legal teams pursue enforcement across multiple international jurisdictions.
Common Questions Regarding the Instant Upright Liquidation
Why was a liquidator appointed to Instant Upright Ltd?
Adrian García Díaz was appointed as liquidator by a court order in January following a formal winding-up petition filed by the Revenue Commissioners over unpaid tax debts.
What specific entities and accounts are targeted by the court orders?
The High Court issued an interim freezing order targeting company assets and funds held in a bank account registered under a Gibraltar entity that shares the exact name Instant Upright Ltd.
Which jurisdictions outside Ireland are involved in the legal proceedings?
Judge Cregan granted permission to serve court papers to defendants located in Gibraltar, Monaco, Spain, France, Dubai, and Australia.
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