Courts / Dublin / Report

Building firm directors agree to 5-year restriction on company involvement

Summary

Two directors of the building firm Tson Ltd, formerly Barnmore Ltd, which entered liquidation in 2011, have agreed to court orders that restrict their involvement with any company for five years. The restrictions were sought by the official liquidator and chartered accountant Aiden Murphy, who had previously applied for disqualification orders against brothers Patrick and Brendan O'Halloran. The brothers, represented by Hugh O'Neill SC, opposed the application. The liquidator's claims were based on allegations that the directors engaged in reckless trading, intended to defraud creditors, failed to act honestly, and did not keep proper books and records, resulting in a loss of more than €2 million owed to creditors. The settlement, approved by Mr Justice Paul Gilligan, also requires the O'Hallorans to pay a six‑figure sum to AIB in two instalments within three months, and the restrictions are suspended until late April to allow the brothers to arrange their other company affairs.

Who, what, where, when and why

What: Report matter: Building firm directors agree to 5-year restriction on company involvement. Procedural stage: hearing_or_decision

When:

• April 25th Adjournment
• 2017-01-17 Publication

Places mentioned

Topics

Stage Hearing Or Decision

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Read the original CNI report