Lalco firms incur losses of €173m

COMPANIES controlled by Galway developer John Lally incurred losses of €173 million in 2009.

Lalco firms incur losses of €173m
Wed, 13 Jul, 2011 - 01:00
Gordon Deegan

Accounts lodged by his holding firm, Lalco Holdings, show their subsidiaries also had net liabilities totalling €393m at the end of December 2009.

The directors confirmed that the subsidiaries were transferred from Lalco Holdings to an Isle of Man-based company, Maplegreen Unlimited, in 2008.

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CourtsPlace: GalwayPlace: Isle of ManPlace: WilshirePlace: Humewood Castle demesnePlace: Kiltegan, Co WicklowPerson: John LallyPerson: LallyOrganisation: LalcoOrganisation: COMPANIESOrganisation: Lalco HoldingsOrganisation: Maplegreen UnlimitedOrganisation: FifesOrganisation: Wilshire LtdOrganisation: NAMAOrganisation: Lalco HoldingOrganisation: Sova PropertiesOrganisation: Brackville HoldingsOrganisation: Devano Developments
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