Furniture company directors declared bankrupt

Jondol Furniture directors, John and Dolores Quinn, have been adjudicated bankrupts by Ms Justice Marie Baker, in the High Court, on foot of a petition by the Revenue Commissioners.

Counsel John Donnelly told the court that the couple, whose home is Woodside House, Dunnstown, Brannockstown, Co Kildare, formerly lived at Jigginstown, Naas.

Mr Donnelly, for the Revenue, informed the court that the couple were jointly and severally responsible for a tax debt of €331,979, on foot of judgments obtained in 2010 and 2011.

He told Judge Baker there was a long history to the matter, including the court having previously been told that Mr Quinn had obtained loan approval from Barclays Bank, in England, and would be able to draw down money that would discharge the €331,979 liability entirely. That had never happened.

John Quinn, in an affidavit, stated he was working as a self-employed interior designer in London, with earnings of €95,000 for last year. His wife, Dolores, worked separately in retail sales in Ireland, earning €27,000.

He said he was a director and shareholder of Anglo Country Meats Ltd incorporated in June 2017, with plans to purchase an abattoir in Anglesea, North Wales.

Despite his background in furniture and interior design, his roots were in farming.

Mr Quinn said he did not have the personal capital to purchase the company, which would be capitalised by a private loan from a long-term acquaintance, for €2.5m, which had been drawn down in June.

He told the court the amount substantially exceeds the purchase price and included €320,000 to enable him to discharge the debt to Revenue.

The funds were already in Barclays Bank, Shropshire, but delayed, due to compliance procedures.

His relationship manager at Barclays had been involved in a hit-and-run collision and killed. He was dealing with a new client manager, who had to go through the stages again.

Mr Quinn said that he had to inform the court that compliance checks had not been completed, but he had received a letter from Barclays, on July 31, assuring him that completion was imminent.

The Quinns and their two children were to have been evicted from their Brannockstown, five-bed bungalow in September 2016, on foot of a €3m debt on which they had defaulted, but won a reprieve.