An off-market deal, negotiated by restricted US trader Jeff Leo, to let Dundrum House Hotel as an Ipas centre deprived Brogan Capital Ventures Ltd (BCVL) of any “meaningful income stream” and is the primary cause of the company’s collapse, according to its liquidators. The arrangement, made shortly before Kieran Wallace and Andrew O’Leary of Interpath were appointed to wind up BCVL last autumn, amounted to a fraud on the company and led directly to the loss of 48 jobs, it is claimed. The joint liquidators now want a High Court declaration that the lease of Dundrum House Hotel by BCVL…

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