Chairman of kitchen supply firm board denies he acted in a reckless manner

THE chairman of the board of a kitchen and bathroom supply company has denied claims of carrying on the company’s business in a reckless manner and has claimed he too was a victim of a “fraud” allegedly perpetrated on the company by its chief executive and chief operating officer.

Conor Phelan also alleged Bank of Scotland Ireland (BOSI) continued to provide funds to Delta Homes (Ireland) Ltd (in receivership) after he made it aware company management accounts had been falsified.

Mr Phelan, a non-executive director and principal shareholder of Delta, said he had taken all proper steps in relation to the company and had lost his own entire investment of €5.47 million.