The directors of Dolphin Mut 116, the Irish company linked to the collapsed German Property Group (GPG), should have seen the danger signs long before the group sank up to €65 million of its investors’ money, or they did and simply ignored them.  That in a nutshell is the reckless trading lawsuit the liquidators of Mut 116 have laid against the firm’s former executives Brian Flynn, Eanna McCloskey, GPG founder Charles Smethurst and the estate of alleged shadow director, the late Paul Dunne. The indications that GPG was in trouble are said to have been manifold, from defaulting on interest…

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