Mansfield signed family mansion over to wife
Published 10/10/2010 | 05:00
JIM MANSFIELD, whose Citywest Hotel, conference centre, golf and leisure resort were placed into receivership in July, registered Tassaggart House, the Georgian mansion believed to be his family home, in his wife's name just two weeks beforehand, the Sunday Independent has learned.
Mr Mansfield, who claimed in January 2008 that his extensive portfolio of land, property and other assets was worth €1.7bn, is the latest of a number of developers who have transferred the ownership of family homes and other properties to their wives.
Declining to comment on the transfer, receiver Martin Ferris of Ferris and Associates would only say: "The hotel group will continue to trade as a going concern and this is going very well."
Former Jurys Doyle chief executive Pat McCann's company, Dalata, is now running the 1,712-bedrooom hotel -- where the World Grand Prix Darts Tournament has been taking place all week -- and its other facilities, which include two golf courses, two conference centres and a helipad.
In June, this newspaper reported that Mr Mansfield was in talks to sell the Citywest resort -- which has become established as the venue for the Fianna Fail ard fheis and a regular host of GAA functions -- to a US firm for €1bn.
Several months prior to that, news also emerged that he was seeking to establish an institute of education for students from Saudi Arabia, although the Saudi ministry for higher education denied all knowledge of the property tycoon's plans.
Mr Mansfield bought Citywest and nearby land in the early 1990s, some years before property began to soar in value.
He made his fortune in the 1980s, when he made tens of thousands of pounds from selling 100,000 tonnes of earthmovers and other machinery that had been left over from the Falklands War between Britain and Argentina.
Mr Mansfield did not return calls this weekend.