Sunday 19 November 2017

Bank of Ireland moves to take control of Rigney supply firm

Donal O'Donovan

Donal O'Donovan

BANK of Ireland has moved to take control of a construction supplies business controlled by Donal Rigney, an Offaly businessman previously jailed for contempt of court in 2010 during a legal effort to recover debts owed by the same firm.

Accountant Liam Dowdall of Smith & Williamson Freaney was appointed receiver of Donal Rigney Ltd on July 5 by Bank of Ireland.

The most recent accounts filed for the business show bank debt in the order of €6.5m, back in 2008.

In 2010, Mr Rigney was sent to Mountjoy after a High Court judge found that he was in contempt of court for failing to comply with orders to hand over machinery used on construction projects in the Middle East to creditors.

The judge said Mr Rigney had misled the court on the issue and rejected his claim that he was not in a position to return the machinery to lender Lombard Ireland.

Last December, National Irish Asset Finance secured judgment orders of more than €1.5m against the businessman and his company for unpaid debts.

National Irish Asset Finance was granted its judgment against Mr Rigney, of Mountpleasant, Blueball, Tullamore, Co Offaly, and Donal Rigney Ltd in a case over lease agreements for machinery used by the company.

In September last year, Mr Rigney and his company were given nine months to pay €58,000 due to the Construction Workers' Pension Scheme, after a court ruled that money deducted from workers' wages had not been paid over to the pension scheme.

Company filings seen by the Irish Independent show that Mr Rigney has recently emerged as director of a second plant hire business, despite the issues with his previous business.

Mr Rigney was newly appointed as a director of Hiredepot Construction Services in April this year.

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