In Ireland, there’s been an hiatus of nearly two months since NAMA appointed a receiver to companies in the Bowen group at the start of August 2011, but today Ireland’s Iris Oifigiuil reports that NAMA appointed receivers to Murphy Construction (Carrigtwohill) Limited on 29th September, 2011 on foot of a loan originally advanced by Bank of Ireland. Barry Donoghue of KPMG is NAMA’s Statutory Receiver.
Murphy Construction (Carrigtwohill) – not to be confused with other Murphy Construction companies in the State – was founded in 1984 and at its peak employed over 100 people in the construction of pubs, schools, local authority housing and private housing developments. Its projects included 42 units at Castleredmond Court (Midleton, Cork), 16 townhouses at Charleston Close (Ballinacurra, Midleton, Cork), 18 apartments at Commissioners Quay (Midleton, Cork), offices for Cork County Council (Glanmire, Cork), 33 apartments at The Maltings (Ballinacurra, Midleton, Cork), Glyntown Heights (Glanmire, Cork), Glyntown Close (Glanmire, Cork), Sunview Housing Development (Douglas, Cork), Temple Hill (Cork), Ardcarraig (Ballinglanna, Cork), Orchard Housing Estate (Glanmire, Cork), Copper Valley (Glanmire, Cork), Chestnut Meadows (Glanmire, Cork).
The company has been in the wars with creditors for a few years. In 2008. two Corkmen, John Coleman and Michael Coleman sued Murphy after a €40m sale of land went sour. Court records show that the case was eventually struck out, possibly as a result of a settlement. Murphy’s managing director is Kieran Murphy.
Remember you can see a comprehensive list of Irish foreclosure action by NAMA here and in this regularly updated spreadsheet.
NAMA Wine Lake 
The number of companies in these ‘Groups’ never ceases to amaze.
I doubt that the ‘group’ structure is designed to benefit the poor sods of unsecured creditors left reeling in the various closets of these ‘groups’.
On a seperate note and not related to the above company.
I am aware of several groups that have ‘folded’ sister companies that other group companies owed money to. Many of these sister companies and parent companies trade merrily away, leaving the dormant company asleep, undisturbed but still owing buckets of money.
The trick of course is not to ‘fold’ the companies. No liquidator is appointed. The companies are just left there. Dormant is the word used.
Just leave them ‘Dormant’, whatever connotation that has. I must look up that legal term sometime.
In fact ‘Dormant’ seems may be an apprpriate word in relation to the whole area of company law.
Dormant.