A provisional liquidator was urgently appointed last week to protect creditors' interest in Clonmannon House, a property valued at circa €4 million. This Monday, the company was wound up following a petition by a Chinese investor.
Rugby player-turned-businessman Brendan Mullin was pursued over an allegedly unsatisfied debt of €1.8 million. The proceedings have now settled.
Clonmannon was a Co Wicklow estate with 44 bungalows, ready to be transformed into a retirement village. Chinese investors put millions of euro into the project. Now they are trying to pull the plug on the business over alleged debts and fears of asset dissipation.
The hunt to recover assets for Irish investors stung by the collapse of the Germany property investment scheme sprawls three jurisdictions.
Many hotels, restaurants and pubs are shutting down, but just as many are changing hands or refinancing – and some are expanding. Volatility is causing merciless change across the industry.
A German lender has appointed Deloitte as receiver to a high-profile building in the north docks. This is the second time it has called in receivers in five months against Korean investors in the city.
Concerns about dividend payments were raised by a counter party working with Glenbeigh on the construction of 107 apartments in Dundrum in south Dublin.
Thousands of business owners breathed a sigh of relief when the Government eased the repayment terms for €1.72bn in tax liabilities parked since the pandemic but the “cheapest finance” scheme has multiple costs, too.
The six pubs in Dublin and Galway including popular venues like Against the Grain, the Black Sheep and the Salt House. The group has a reasonable prospect of survival if it can be restructured.
Irish headquartered Endo is seeking approval for a twin track US-Irish insolvency package. Globally, the group has been subject to thousands of lawsuits over opioid and mesh products, including proceedings in Ireland.
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