Firm’s unsecured creditors ‘unlikely’ to be paid

The liquidator to building firm Tom Hayes Ltd said yesterday that it is “a little bit unlikely” that unsecured creditors owed over €2.7m will see any of their monies.

Partner at BDO Ireland, Brian McEnery was yesterday commenting on the progress of the liquidation of the Killaloe firm which collapsed in January 2011.

The firm was involved in a number of high-profile building contracts since being established in 1955, including work on the University of Limerick, Limerick Institute of Technology, and a number of church projects including work at the Knock shrine.