Business Irish

Saturday 23 August 2014

Grand Prix boyracer sued over €20m deal

Roisin Burke

Published 10/03/2013 | 05:00

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THOSE WERE THE DAYS: Mark Kershaw, who now faces High Court proceedings over a €20m debt, with Glenda Gilson.

THE ultimate Celtic Tiger cub is being sued by the ultimate casino lender over a classic bust property crash deal.

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Mark Kershaw, a motorsports fanatic and Lillie's and Renards stalwart in boom times, is being chased by Bank of Scotland along with his father, the former waste business tycoon Alan Kershaw.

A property business that started with apartment investment rapidly grew into a consortium that bought eight acres next to the Red Cow roundabout in west Dublin, over which circa €20m is now being sought by the bank in the High Court. Siblings Philip and Ciara are also named in the case.

The Kershaw dynasty were boom-era vanguards, with Harley Davidson-owning Mark leading a life most twentysomethings would kill for, dating beauties including TV personality Glenda Gilson and actress Leigh Arnold and engaged for a spell to Northern Irish beauty queen Lisa Harrison.

The former race-car driver and his dad bought the A1 Grand Prix franchise from the Dubai royal family, the Maktoums, for somewhere between €3m and €5m. His racing team, the Belmayne A1 Team Ireland, donned Celtic tiger-themed livery and cost, he said back in 2005, some €300,000 a year to run.

Mark was a director of the family waste empire, Manvik, a business started by his father that was once worth €30m.

It is believed that at the time Bank of Scotland avidly chased the Kershaws to obtain their business and even attached a further €30m facility to the loan.

Irish Independent

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