Friday 22 September 2017

Publican who owes €1m to bank throws out receiver and retakes control of her bar

Publican Helen Waterman with her partner Aliraza Karyhadi and daughter Helen at The Junction Bar, Glounthaune,
Co Cork
Publican Helen Waterman with her partner Aliraza Karyhadi and daughter Helen at The Junction Bar, Glounthaune, Co Cork

Georgina O'Halloran

A PUBLICAN who lost her business after running up a mortgage debt of €1m was back behind her bar last night -- in defiance of the official receiver.

Last February KPMG was appointed to run The Junction Bar in Glounthaune, Co Cork.

But yesterday mother-of-four Helen Waterman told the manager put in place by the receiver to leave the premises.

Ms Waterman, who owes €1m to the Bank of Scotland, then took delivery of some barrels of beer and began preparing to open the doors to customers.

Later, Ben Gilroy of People for Economic Justice went to the offices of KPMG on South Mall in Cork city on behalf of Ms Waterman to deliver a notice informing the firm that its position as receiver was being "terminated".

"On February 20 the receivers came in here and they basically threw us out. . . threw us out of our home. . . threw us out of our business," Ms Waterman said.

"This is my mortgage, this is my licence, this is my premises and I'm taking back possession."

She said she planned to stay in the pub and earn her living, adding that she wanted to negotiate with the bank.

"We're open for the match and we're looking forward to seeing everybody. We'll negotiate with them (the bank) certainly. It's not that we don't want to pay. We will sit around the table and negotiate."

"We're not looking for sympathy, we're looking for justice."

A spokesman for KPMG said the receiver was seeking a meeting with Ms Waterman.

Irish Independent

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