High Court winds up group of construction and property companies

The High Court has wound up a group of related companies following their failure to satisfy a €3.89m demand from the Revenue Commissioners over unpaid taxes.

Today Ms Justice Mary Laffoy appointed Mr Carl Dillon as liquidator of Askon Homes Ltd, Askon Investments Ltd, Askon Properties Ltd, Lance Homes Ltd, Lance Investments Ltd, Lance Properties Ltd, Lordford Land Ltd, and Vilbrook Construction Ltd.

The companies are involved in the construction, property development and property acquisition business and have registered offices at Eustace Street, Temple Bar, Dublin 2. They were incorporated on dates between 1980 and 1998.

Peadar Macanna and Josephine Walsh, Kilmurray House, Falls Road, Shankill, Co Dublin are directors of the companies.

The court heard that Revenue had made a demand last October to the companies for a total sum of €3.89m for unpaid VAT, PAYE, PRSI, Corporate Tax plus interest.

The Judge said she was satisfied to appoint Mr Dillon, of accountancy Firm Moore Stephens Nathans, and make the winding up orders because the firms were insolvent and unable to pay their debts.

The Judge adjourned the matter to the High Court Examiner's list and directed that Mr Macanna and Ms Walsh file statements of affairs.

The Judge also made orders, following a request by Revenue, restoring a number of the firms in the group to the Registrar of Companies and directed that the directors file any outstanding annual returns within three months.

The Judge had previously adjourned the matter to this morning's sitting of the court following the companies' request to be given time to come up with a proposal, suitable to Revenue, to satisfy the tax demand.

However Dermot Cahill Bl for Revenue told the court that nothing suitable had been put to Revenue on behalf of the companies.

Counsel said his clients wished to proceed with the petition to have the companies wound up have Mr Dillon appointed as liquidator.

Revenue's application was not opposed.