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Category: Business Briefs

ARYZTA’S SLOW RECOVERY REFLECTED IN SHARE PRICE

Kevin Toland

IT HAS never been explained why former Aryzta CEO Owen Killian bought a minority 47.8% stake in French frozen foods retailer Picard, for a huge €447m in August 2015, given that this acquisition made no strategic sense for the group, which has no retailing skills... Read more »

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WHAT’S A HYBRID CAR?

Extinction Rebellion

Earlier this month, RTÉ’s website ran a scoop, headlined, ‘Toyota to drop petrol versions of Corolla and C-HR’. Motoring editor Donal Byrne explained that the Japanese manufacturing giant expects 92% of its cars to be “fully hybrid by the end of next year”. Toyota Ireland’s... Read more »

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TRADE WAR BACKLASH

NEWS THAT MOLEX, the US electronics company owned by Koch Industries, is to shut its doors in Shannon comes as a most unwelcome echo of the day when Dell called time in Limerick ten years ago. Labour TD, Jan O’Sullivan, has said that “these workers... Read more »

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DANIELLE MEAGHER’S TARGETS

Danielle Meagher

ALTHOUGH SHE is now based in sunny California, Danielle Meagher (formerly ‘Dr Botox’) continues to create waves this side of the Atlantic. Now known as Danielle Collins, the dentist-turned-beautician-turned-actor is involved in a couple of legal spats, in both Dublin and Belfast. Earlier this year,... Read more »

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HELEN DIXON’S UNDERFUNDING

Helen Dixon

THE BUDGET was bad news for Helen Dixon whose office received only a meagre increase in resources for 2020. Paschal Donohoe presented this year’s budget as totem of responsibility but are government setting themselves up for yet more data protection trouble? Commissioner Helen Dixon responded... Read more »

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FINE GAEL’S PHONEY CLAMPDOWN

Michael Noonan

ONLOOKERS were no doubt astonished by the revelation in Paschal Donohoe’s budget speech that vulture funds “have engaged in aggressive behaviour to avoid tax”. As well as promising to introduce new “anti-avoidance measures”, the finance minister announced that his officials will “intensely scrutinise activities in... Read more »

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WHY IS MICK O’LEARY STILL IN THE COCKPIT?

Michael O'Leary

IT IS a reflection of his overwhelming influence in Ryanair that the end of the runway is not yet in sight for Mick O’Leary. His original modus operandi was based solely around breaking up the duopoly Aer Lingus and British Airways held in the 1980s,... Read more »

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JASPER COYLE’S TAX BILL

DUBLIN tax accountant Jasper Coyle could do with taking some of his own advice. Goldhawk spotted that the Revenue had recently whacked the Sandymount number cruncher with a hefty €488,000 judgment. Coyle has an impressive CV, having spent the best part of 50 years in... Read more »

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MARTIN SHORTT’S ‘CREDIBILITY PROBLEM’

Martin Shortt

SPARE a thought for Meath auctioneer Martin Shortt, who was recently given short shrift by Judge Seamus Noonan in the High Court. As a result, Danske Bank secured judgment against Shortt and his wife, Pauline Shortt, for €1.5m on foot of personal guarantees given in... Read more »

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PETER DEVLIN’S ROOMS

Lorraine Keane and Peter Devlin

INTERESTING to see that No 44 Belgrave Square in Monkstown, south County Dublin, is on the market with a hefty €2.65m price tag. This is the abode of TV presenter and Sindo favourite Lorraine Keane and musician-cum-radio presenter Peter Devlin. The property was purchased back... Read more »

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DEIRDRE FOLEY’S SUMMER SCHEDULE

Deirdre Foley

AS A result of an adjournment last week, property speculator extraordinaire Deirdre Foley will have to wait another couple of weeks to hear the outcome of a potentially significant judicial review. Meanwhile, the high flyer has just wound up her D2 Property Management company, but... Read more »

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JOHN FARRELL’S BUSINESS PARTNER

John Farrell

TROUBLE is brewing over the liquidation of one of Dublin restaurateur John Farrell’s operations. Peeved creditors of Super Miss Sue Ltd are unhappy with the company’s choice of liquidator and are on the way to the Four Goldmines to get their own nominee subbed in.... Read more »

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DEIRDRE FOLEY’S CLERYS SPOTLIGHT

Deirdre Foley

GOLDHAWK’S favourite Porsche-driving ‘alpha female’ (as tagged by the UK’s Property Week), Deirdre Foley, will be paying particular interest to Court 25 today when High Court judge Charles Meenan issues his judgment in a controversial case. D2 Private CEO Foley made headlines in 2015, courtesy... Read more »

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GIOVANNI VISCARDI’S BOOZE BILL

Giovanni Viscardi

MORE woe for Giovanni Viscardi and Brian Deery, the owners of Bagots Hutton wine bar on Ormond Quay, D7, which closed temporarily last year. Urban Entertainment Ltd, the trading entity behind the trendy night spot, has been slapped with a judgment by another creditor, this... Read more »

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GOD AND MAMMON AND ACCOUNTS

Catherine Wiley

CONGRATULATIONS to the board of the Catholic Grandparents Association Ltd (CGA) who have moved to prevent it being struck off the Companies Register for failing to file accounts. The bad news is that, when it comes to the tricky subject of mammon, things could be... Read more »

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YOUNG BLOODS: PAT CREAN

DEVELOPER Pat Crean is making headlines today with news that his Marlet group has offered to sell 36 apartments to Dún Laoghaire Rathdown Co Council for a cool €11.8m.

The 39-year-old has been making waves on the property scene for a number of years and in 2016 split with his former business partner, Greg Kavangah, to carve out his own section of the Dublin monopoly board with the Martel group.

You can read more about the fresh-faced Kerryman in Goldhawk’s 2017 profile here.

RED INK AT PINK SANDS

THE REVENUE has registered a judgment against a company called Pink Sands Property Investments Ltd, which has form when it comes to this sort of thing. The Pink Sands name evokes images of sunny climes, which is apt given the links of the principal, Maria... Read more »

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CLOCK TICKING FOR CHOCKABLOCK

Conor Mallaghan

THE COMPANY that was behind the impressive Carton House estate in Co Kildare – Chockablock Ltd – is to be the subject of a creditors’ meeting next month. The main players here are the Mallaghan family and Carton Development Partnership. The Mallaghans took ownership of... Read more »

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DENIS DESMOND’S INVESTMENTS

Denis Desmond

IN THIS issue, Goldhawk profiles promoter extraordinaire Denis Desmond, who has quite a varied array of investments. While some are connected to MCD’s area of expertise, DD has also found other places to stuff his moolah. The results have been mixed. One venture in a... Read more »

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THE DUNNER, HIS MISSUS AND THE EVIDENCE

GAYLE KILLILEA, the estranged wife of Sean ‘The Dunner’ Dunne, has been ordered to fork over more than €18 million in “fraudulent transfers” by a US court. The Connecticut jury concluded that cash and assets were put out of the reach of creditors by the... Read more »

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THOMAS COOK’S HAPLESS INVESTORS

Peter Frankhauser

GOLDHAWK was interested to spot that among the casualties in the Thomas Cook Group share meltdown is the pension fund of the Northern Ireland Local Government Office (NILGO), which has been investing heavily in the hapless travel company. Over £1.5bn has been wiped off the... Read more »

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RICHARD SPENCE’S SALON SETBACK

Richard Spence

THINGS HAVE turned ugly for Beautifi, the beauty technology outfit established by Richard Spence a few years ago to ‘revolutionise’ the salon booking experience. While the company had plans to invade Europe, it has instead collapsed into liquidation. Beautifi was a website that enabled salons... Read more »

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OLGA SHAJAKU’S LATEST VICTORY

Olga Shajaku

MORE GOOD news for Goldhawk’s favourite Russian lawyer, Olga Shajaku, who got a good result from the Supreme Court last week, which means her long-running efforts to reverse the awarding of a contract to a competitor have paid off.

Earlier this year, Shajaku sent a shot across the bows of Paschal Donohoe’s Department of Public Expenditure and Reform (DPER), where the mandarins are getting nervous.

READ MORE » 

LISA DUFFY’S CREDITORS MEETINGS

Lisa Duffy

GOLDHAWK NOTES that two companies in the Cari’s Closet retails fashion group are being wound up, with creditors’ meetings due to be held next week for Cari’s Closet Cork Ltd and Cari’s Closet Malahide Ltd. These are part of the high-profile group established by Lisa Duffy.

Read more in the latest issue, out now. 

And you can read even more about Duffy’s fashion business here for free. 

SIMON KENNEDY’S ‘BATTLEGROUND’

Simon Kennedy

THERE WAS more woe for colourful Wexford solicitor Simon Kennedy in the High Court recently concerning his scrap with a bank over an €800,000 debt. It has been a case of all hands on deck for the former legal eagle since being declared bankrupt in the High Court in 2012 and his suspension from practice by the Law Society as a result.

Kennedy once practised as Simon W Kennedy & Company Solicitors in New Ross and will be familiar to fans of Goldhawk thanks to his various scrapes with the Law Society and assorted creditors.

Read more about Kennedy’s ‘Battleground’ in the latest issue. 

BERNIE MADOFF’S IRISH FEEDER FUND

OVER A decade after details emerged about the huge Ponzi scheme operated by US fraudster Bernie Madoff, a filing in the Companies Office here sheds some light on the current status of Thema International Fund (TIF), the company behind a so-called Irish ‘feeder fund’ established in Dublin to tap wealthy European investors eager to get a slice of the Madoff magic.

Read more about it in the latest issue out now.

DAVID SMYTH’S BLACKHALL BLUES

INTERESTING to see that the Law Society has just registered a judgement against Waterford tech outfit Agenda Computers Ltd, where the principal is one David Smyth.

Read more about him in the latest issue. 

SEAN LYONS’S DOOMSDAY SCENARIO

IS THE apocalypse approaching for Sean Lyons’s troubled company, Doomsday Challenge Ltd? Yet again, the firm is listed to be struck off the Companies Register for failure to file accounts, but it has come back from the brink before.

Read more in the latest issue out now. 

And you can read more about Lyon’s ‘Doomsday Challenge’ from back in 2017 here for free. 

DAVID HEALY’S ‘COLD-BLOODED BUSINESS ARSON’

 

SPARE A thought for Goldhawk’s old friend David Healy. Yesterday, it emerged that the Cork businessman would be sent to the slammer for burning down his own premises and lodging a false insurance claim.

Healy (48), of Tig na Mona, Rathankar, Passage West, Co. Cork, had plead not guilty to arson that caused over €200 grand worth of damage at Munster Air Compressors, at which he was company director, in December, 2014. Last May, a jury found him guilty of arson, he plead guilty to a second charge of attempted deception in January, 2015.

Healy was handed a 10-year suspended sentence and fined €33k by Judge Gerard O’Brien last May. However, the Court of Appeal yesterday found that sentence to be “unduly lenient” with Counsel for the DPP, Ray Boland BL, saying Healy’s actions were “cold-blooded business arson” which involved significant planning and premeditation.

Read the background to the story here for free.

RUTH MORAM’S ‘ABUSE OF PROCESS’

 

ANOTHER chapter in the remarkable legal saga involving Ruth Moram and the Jehovah’s Witnesses in Ireland was written in the Court of Appeal recently. The scrap goes back a number of years to when she was ‘disfellowshipped’ – ie shunned – from the church’s congregation in Killarney in 2004.

Read more in the latest issue. 

And you can read some background to this long-running sage here for free. 

TAXING TIMES FOR MARTIN TUBRIDY

 

THE TAXMAN has finally lost his patience with Clare businessman Martin Tubridy. A petition to wind up his construction and civil engineering company, GMD Developments Ltd, has just been filed in the High Court by the Revenue following numerous dust-ups with the Cooraclare businessman.

Read more in the latest issue. 

And you can read even more about the Clare publican here for free. 

DISCIPLINING CIARÁN DESMOND

Ciaran Desmond

MORE on Ciarán Desmond, the legal eagle and financial adviser at the centre of a high-profile court case involving allegations of fraud and “secret profits”.

And you can read even more about Desmond’s many talents here for free. 

PETER GAYNOR’S BIG BUCKS

Peter Gaynor

MORE GOOD news for restaurateur-turned-construction suit Peter Gaynor, who continues to make a mint in London, having seen his food business back in Dublin essentially collapse last year.

Read more in the latest issue. 

And you can read more about Pete’s London life here for free. 

POOR FORM AT SARACENS

Nigel Wray

WITH MUNSTER heading to England to play Saracens in the European Rugby Cup semi-finals this weekend, it is interesting to see the kind of financial firepower the English club possesses compared with the (financial) Irish minnows. 

Read more about Saracens financial muscle in the new issue out now