Dublin Club buyers ‘unaware’ it had extensive debts

The financial problems for a Dublin city centre club and restaurant stemmed from its directors acquiring a company that had extensive debts, of which they were unaware, a judge stated yesterday.

“The whole problem stems from Mr Eoin Foyle acquiring Sherland Entertainment, of which he was a director at the time,” Judge Jacqueline Linnane said in the Circuit Civil Court.

“Sherland had not kept proper books of account and, basically, Mr Foyle was acquiring their liabilities, not knowing what those liabilities were.”