Property development companies show losses over €12m

A NUMBER of property development companies co-owned by well-known Limerick businessmen, Joe Hanrahan and John Shee recorded combined losses of over €12 million in 2009, new accounts show.

Property development companies show losses over €12m
Thu, 30 Jun, 2011 - 01:00
Gordon Deegan

The two men jointly hold a majority shareholding in the country’s largest nursing home provider, Mowlam Healthcare, which is profitable.

However, returns by property companies co-owned by the two show aggregate losses of €12.8m in the 12 months to the end of December 2009.

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CourtsPlace: LimerickPerson: Joe HanrahanPerson: John SheePerson: DrPerson: Paschal CarmodyPerson: Frieda Keane CarmodyOrganisation: Mowlam HealthcareOrganisation: Wadlow LtdOrganisation: Cracken PropertiesOrganisation: Megcourt DevelopmentsOrganisation: Paland DevelopmentsOrganisation: Tinerana EstateOrganisation: An Bord PleanálaOrganisation: AccountsOrganisation: Megcourt Developments Ltd.Organisation: Cracken Properties LtdOrganisation: AIBOrganisation: Bank of IrelandOrganisation: Anglo Irish Bank
<p>Under the model, the HCCI said that home care referrals are issued simultaneously to all approved providers, who must respond immediately to secure the allocation.</p>

Home care firms want HSE to end home support allocation model

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