A High Court judge has granted a petition from the Charities Regulator for the winding up of the operating company of Dublin charity Inner City Helping Homeless.

James Doherty SC, for the regulator, said his client was seeking the wind-up of the solvent company on just and equitable grounds. He said this was to ensure books and records could be secured and the charity’s position preserved for stakeholders and service users. It would also allow for a transition of services.

With no objection to the regulator’s request, Mr Justice Brian O’Moore made the order on Monday and appointed Kieran Wallace as the official liquidator. The judge noted the petition to wind up the company was “very unusual”, as it was solvent with a net asset surplus of some €850,000. However, in making the orders, he said the company’s governance creates an “ongoing challenge”.