Panda Welcomes Court Injunction Against Cerberus-Owned Greenstar

DUBLIN, February 12, 2015 /PRNewswire/ --

Panda Waste, an Irish waste management company has successfully secured an interlocutory injunction in the High Court in Ireland against a Cerberus-owned company called Greenstar.

Panda (the plaintiff) sought the injunction to prevent Greenstar (the defendant) from taking its property.   

Both companies provide waste management services to homes in the greater Dublin region in Ireland.  The dispute centres on Greenstar removing Panda owned garbage bins from the homes of customers it wins.  Panda provides three garbage bins to its customers for the collection of general domestic, dry recyclable and composting food and garden waste.  The garbage bins are the property of Panda.

Cerberus -owned Greenstar have been ordered by the Irish High Court to return all Panda's garbage bins and to refrain from taking any garbage bins in the future.  Essentially, whilst the Court recognised that Panda has no difficulty with competition in the market, Mr. Justice Gilligan's ruling now means that customers must contact Panda first if they want their Panda garbage bins removed from their home.

Brian McCabe, CEO, Panda said; "Panda is an Irish-owned, family run company which is proud of its reputation for providing competitively priced services to our customers. We are committed to providing our customers with a quality service in all circumstances and we will collect garbage bins by prior arrangement if customers require it.  We welcome that Cerberus-owned Greenstar have been ordered by the High Court to return our property and to refrain from taking any Panda property in the future."   

Named Repak recycling company of the year, Panda is an Irish-owned, family run company which employs over 650 people in Ireland. The company plans to invest some €5 million in the business this year, investing in new infrastructure and a new hybrid fleet.

Greenstar was purchased by Cerberus, a private equity company based in New York. In 2013 from receivers appointed by Bank of Ireland and other banks .

Contact:
Philip Jones
+353-1-703-8614
[email protected]

SOURCE Panda