Sunday 25 February 2018

Carroll firm receiver still in dark over asset values

Laura Noonan

SEVEN months after his appointment, a receiver sent into Liam Carroll's Danninger by AIB still has no idea how much the bank's security is worth.

William O'Riordan of PricewaterhouseCoopers is one of several receivers working on Danninger as various banks look to enforce their liens over the company's assets.

Documents just lodged with the Companies Office show the value of the assets Mr O'Riordan seized on behalf of AIB was still "not known" by July 21.

The assets include a "development known as Smithfield Locks" in Dublin city, "hereditaments and premises at 19 Upper Abbey Street", "development known as Smithfield Gate", "development known as Kilmainham Bank", "hereditaments and premises at 62 and 63 North King Street", and "development known as 61 Cork Street".

The receiver notes that while none of the assets have been sold, rental receipts of €264,944 have been booked along with tenant deposits of €13,744.

The receiver has also had to fork out almost €152,000 in various costs for the properties, including €55,700 in VAT and €36,800 in management levies.

Irish Independent

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