Lally-controlled companies report €440m net liabilities

COMPANIES controlled by Galway developer John Lally had net liabilities totalling over €440 million at the end of last year.

Accounts lodged by his holding firm, Lalco Holdings Ltd, to the Companies Office show that the group’s net liabilities at the end of December last totalled €441.2m.

This followed companies controlled by Lalco Holdings incurring combined losses of €47.8m last year.