A liquidator has been appointed to recoup the monies owned by a Carlow engineering firm.

Creditors of D&M Utilities & Civil Engineering met last week to discuss the €300,000 revenue billed owned by the Ballickmoyler firm.

The firm also owes cash to a number of financial institutions, including Bank of Ireland and Lombard Ireland, are also owed significant sums, according to a statement of affairs for the company.

Jim Stafford, an accountant with Friel Stafford, has been appointed liquidator.

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One of the firm's directors, Maura O'Donnell, told creditors the firm's plant, machinery and motor vehicles had been moved outside the jurisdiction of the state.

The other director, Daniel O'Connell from Blessington, Co Wicklow, did not attend the meeting.

Mr Stafford is tasked with establishing the whereabouts of the firm's assets as part of the liquidation process.

Last August, Lombard Ireland bank, which is part of the Ulster Bank group, sought judgment for €308,452 against D&M Utilities & Civil Engineering and the two directors.

The firm's assets were temporarily frozen by the High Court, following the apparent disappearance of a substantial amount of construction equipment.

The bank claims that it is owed the money in relation to eight leasing agreements for various items of equipment, including a crane.

(PR/JM)