Director of three building firms warned he may face jail for contempt

A DIRECTOR of three building development companies who breached court orders to give full details of the companies’ accounts to a receiver has been warned by a High Court judge he will definitely go to jail for contempt unless he complies with orders within weeks.

Mr Justice Peter Kelly also indicated Mervyn Walsh, with addresses at Lansdowne Village, Ballsbridge, Dublin, and in Monaco, may face future proceedings by the Director of Corporate Enforcement given the “poor state” of the accounts of his companies, two of which are in receivership with debts of some €30 million.

The judge made the remarks when dealing with proceedings by Declan Taite, the receiver of Largreen Ltd and Sherside Ltd, alleging contempt by Mr Walsh of court orders aimed at procuring full information on company accounts and facilitating the sale of houses on estates in Wexford and Portlaoise built by another of Mr Walsh’s companies, Event Horizon Ltd.