Saturday 24 March 2018

Clerys' liquidators seek direction to pay concessionaires

Tim Healy

THE joint liquidators for OCS Operations Ltd - former operators of Clerys in Dublin - are seeking directions from the High Court permitting them to pay out some €654,000 to about 50 concession holders at the store.

The concession holders claim to be owed some €1.4m in total and one, LS Catering, has separately sought permission to bring proceedings against OCS arising from concerns over whether certain transactions affected the monies available to it as a concession holder.

At the High Court yesterday, Jeremiah Healy SC, for LS Catering, a company linked to businesswoman Lorraine Sweeney which operated a restaurant in Clerys from 1992, said certain transactions concerning common funds give rise "at the moment" to concerns but those transactions may turn out to be "acceptable". His client would like elaboration from the liquidators of certain matters as there were a number of "gaps in the narrative" giving cause for concern, counsel said. His side wanted a short time to consider what the liquidators said.

James Doherty SC, for liquidators Kieran Wallace and Eamonn Richardson of KPMG, said they want to pay out funds to the concession holders as soon as possible as there were some 50 businesses without those funds since June.

Irish Independent

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