Sunday 26 May 2019

Revealed: Former owner of Roscommon property has unpaid debts that stretch back almost a decade

The house and year where 8 security guards were attacked at Falsk, near Strokestown, Co Roscommon.Picture Credit:Frank McGrath
The house and year where 8 security guards were attacked at Falsk, near Strokestown, Co Roscommon.Picture Credit:Frank McGrath
John Mulligan

John Mulligan

Anthony McGann, the man whose former property in Co Roscommon was the focal point of violent attacks yesterday morning, has financial difficulties that stretch back almost a decade, Independent.ie can reveal.

They include a more than €400,000 settlement secured by the Revenue Commissioners against him in 2015 for the underdeclaration of VAT. That was on foot of a Revenue audit case.

Land Registry records for the property at the centre of the weekend disturbances at Falsk also show that a more than €18,000 judgement was secured in December 2008 against Mr McGann. That judgment was subsequently registered against his property.

That judgment was obtained in the Circuit Court by Hanly Brothers from Elphin, Co Roscommon, a company that operated a quarry in the county.

By July 2009, Mr McGann had even deeper financial problems.

That month, a judgment mortgage of almost €38,000 was registered against his Falsk property by ACC Asset Finance after High Court proceedings.

A judgment mortgage is where a burden is registered against a property.

Mr McGann’s financial woes continued.

Later in 2009, Bank of Ireland Finance secured a judgment for an unspecified amount against Mr McGann, with the amount registered in 2011 by the bank as a judgment mortgage against his property.

In January 2010, a judgment was registered against Mr McGann by Land Rover Financial Services, again for an unspecified amount. That judgment was registered against his property in January 2011.

The judgments continued to pile up.

In the summer of 2012, ICS Building Society secured a judgment against Mr McGann, and later that same year, that too was registered against his property.

Meanwhile in 2015, the Revenue Commissioners secured a settlement totalling €429,501 against Mr McGann as a tax defaulter for the underdeclaration of VAT. It included €177,000 in tax owed, almost €75,000 in interest, and more than €177,000 in penalties.

Most recently, in January this year, a judgment mortgage was secured against Mr McGann in the Midland Circuit Court by Cabot Asset Purchases (Ireland). That judgment was registered against Mr McGann’s property in February this year.

In 2004, Mr McGann had secured a mortgage from IIB Homeloans, the Belgian-owned lender that rebranded as KBC in 2009.

In 2017, it emerged that KBC Bank Ireland sold a chunk of loans to credit-servicing and debt-collection firm Cabot Financial Ireland, a unit the US-based Cabot group. Cabot also manages about €2.3bn worth of loans on behalf of clients in Ireland.

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