Liquidator appointed to firms behind Dobbins
Published 05/10/2016 | 02:30
A liquidator has been appointed to two companies operating the well-known Dublin restaurant Dobbins after efforts to finalise an investment agreement failed.
However, it is expected a survival scheme prepared for two other companies operating the ten-bedroom Beckett's Hotel in Leixlip, Co Kildare, will be put before the court for approval later this week.
An investment agreement has been negotiated for them and will be put before creditors on Wednesday.
If supported by creditors, it will then be put before the High Court later this week.
The Revenue Commissioners has indicated it will oppose the survival scheme proposed, the High Court heard yesterday.
All four companies, which employ some 60 people, had secured court protection last June due to cash-flow difficulties caused by the loss of business contracts and historic bank debt.
The High Court was told efforts by examiner Kieran Wallace to secure an investor for the Dobbins companies had failed.
Rossa Fanning BL, for Mr Wallace, said there had been talks with KBC Bank, Dobbins' largest creditor on funding after a preferred investor for the Dobbins companies had been selected.
However, no investment agreement had been reached, he said.
There was agreement a liquidator could be appointed to those entities whose directors - Gary Flynn and Patrick Walsh - were restaurant manager and head chef at Dobbins.