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Treasury Holdings creditors told to stake claim

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Johnny Ronan and Richard Barrett of Treasury Holdings

Johnny Ronan and Richard Barrett of Treasury Holdings

Collins Dublin, GARETH CHANEY

Johnny Ronan and Richard Barrett of Treasury Holdings

Anyone owed money when Johnny Ronan and Richard Barrett’s Treasury Holdings property group collapsed into liquidation has been told to contact liquidators by the end of August this year with their claim.

Liquidators of Treasury Holdings, Michael McAteer and Paul McCann, have alerted creditors owed money by the collapsed construction giant to send their name, address and details of the claimed debt to their offices at Grant Thornton in Dublin on or before August 30.

The submissions are needed ahead of a hearing at the State Examiner’s Office to assess the claims that is scheduled for September 30 this year.

Treasury Holdings collapsed into a High Court-ordered liquidation in 2012 with debts of €2.7bn.

The lion’s share of the debt – €1.7bn – is owed to secured lender the National Asset Management Agency (NAMA) with debts also owed to KBC, the bank that actually petitioned the court to have the company wound up.

Since the liquidation, assets have been sold off by the Grant Thornton liquidators and separately by receivers put in by NAMA over some secured assets such as the Central Park office block in Dublin that was bought for €315m earlier this month.

Treasury Holdings amassed a swath of high-end properties in Dublin before its liquidation – including offices of corporations and law firms, the right to operate the National Convention Centre in Dublin’s IFSC and a stake in the nearby Spencer Docks development.

Irish Independent