The housing estate in Rathmolyon, Co Meath, was aimed at first-time buyers but when it ran into trouble it featured extensively in the media. Now a liquidator has been appointed to it.
First, a lender appointed a receiver to Paddy McKillen Jr’s Co Kerry property. Now the food business based there is facing a court petition to place it into liquidation.
Goldstein Property Icav, whose investments are managed by Mel Sutcliffe’s Quanta Capital, is seeking documents and deposition from Relm’s backers Avenue Capital in New York. Quanta also claims documents were improperly removed from its office.
Back in 2022, Paddy McKillen Jr controlled interests across property, hospitality and serviced offices. As loans are called in, cross-guarantees given at the time are now biting.
Paddy McKillen Jr’s serviced offices business wanted the Commercial Court to return possession of three properties taken over by Relm-appointed receivers – but failed.
Creditors fought to install an examiner over the objections of Senoptica CEO and co-founder Brendan Rice. An “unusual” committee of creditors has been installed to allay his concerns.
Elysian Capital acquired the group behind Fastway Couriers for €33m in the wake of the pandemic. Now a debt provider to the group has appointed receivers to the business.
A company called Orsay Ltd says it agreed a sale with the receivers of Paddy McKillen Jr's pub in Clonskeagh but receivers terminated the deal because of an alleged breached confidentiality clause.
The founders of Senoptica have hit back in the Circuit Court against a move by loan-note holders to appoint an examiner to the business. They now want a joint examiner appointed.
In a hotly contested court hearing, the rescue package for the Irish airline was described as a "hostile takeover" by existing shareholder SARA. Its interests will now be wiped out in favour of Danish aviation investor Lars Thuesen.
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