Watchdog to take High Court action against Bailey brothers

THE Office of the Director of Corporate Enforcement has confirmed it is seeking to have two of the country’s most controversial property developers barred from being actively involved in the running of their business.

Michael and Tom Bailey — the self-made millionaire owners of one of the Republic’s leading building firms, Bovale Developments — are facing disqualification as directors of the company.

The Director of Corporate Enforcement, Paul Appleby, said yesterday his office had begun legal proceedings to strip the two brothers of their directorships of Bovale following a lengthy investigation by his officials.