Two Galway-based directors of an Irish registered international animation company are among five of its directors who should be personally made liable for its debts of some €42m, it has been claimed in Commercial Court proceedings. The action is brought by the receiver and international investment company, QL Master Ltd, which appointed Mr Bance. QL made what it says were effectively loans through a bond purchase agreement with another DQE company in Mauritius which holds 75 per per cent of shares of the Indian DQE company. In 2014, DQE Ireland provided a charge over all its assets and security in consideration for the obligations of DQE in Mauritius. It is claimed QL effectively loaned funds to DQE Ireland and as of September 30, 2019, some €42.3 m remained due and owing.

Source: Irish Independent February 09, 2021 02:26 UTC