A couple of weeks ago, Iris Oifigiuil had a notice that the recruitment and manpower agency MCR was seeking to have McCabe Builders (Dublin) Limited wound up on 5th September 2012 in Dublin’s High Court. It seems that NAMA got there first and had receivers appointed to the company on Friday last, 31st August 2012. NAMA has had Jim Hamilton and David O’Connor of BDO appointed as receivers. The appointment notice is dated 4th September 2012 and hasn’t yet been reported in Iris Oifigiuil but thanks to Eamon Browne on Twitter, there is a photograph of the notice in today’s Irish Examiner.
As a key company in John McCabe’s empire, the move comes as quite a surprise as it was understood that McCabes were cooperating with NAMA, after the sale of a site on Arlington Street in St James’s in central London last year and 159 City Road, also in London. McCabes are behind the development of the exclusive Abington Estate in Malahide, north Dublin, former home to Boyzoner Ronan Keating before the missus kicked him out and of Anglo’s David Drumm. John McCabe has been behind the development of a number of hotels in Ireland and had a stake in the Chartbusters chain. He was one of the Maple 10 or Anglo Golden Circle and back in 2010, it looked as if a Swiss outfit called Western Gulf Advisory was going to take a rescuing stake in his companies, but nothing apparently came of it. John McCabe himself is believed to be doing business in the Middle East, the latest unconfirmed reported received on here was that he was operating in Oman.
Appointment of receivers by NAMA in this case will come as a surprise to many.
Remember you can see a comprehensive list of Irish foreclosure action by NAMA here and in this regularly updated spreadsheet.
UPDATE: 7th September, 2012. In today’s edition of Iris Oifigiuil, we get further details on the McCabe receiverships. Four companies have had receivers appointed. The four companies are McCabe Builders Limited, McCabe Builders (Dublin ) Limited, J&M McCabe Properties Limited and HJP McCabe Construction Limited. In each of the four companies, receivers were appointed on 31st August, 2012 and the receivers in each of the four cases are Jim Hamilton and David O’Connor of BDO.
NAMA Wine Lake 
Again a case of another Irish Main contractor trading far longer Than they should have after being aware for a long time of their insolvency. The collateral Damage done in The interim to sub contractors and supplipers is a damning indictment on The psyche of The irish builder.
Yours Truly,
An embittered subcontractor.
Absolutely sickening that this is still continuing. Our company is owed 15k by McCabe. We will never see that now. We are only one of many sub contractors who have suffered these kinds of losses several times over the last 4 years. The truly enraging aspect of this is that there is absolutely nothing we can do.
Shame on McCabe, shame on this and previous governments, shame on Ireland. It is a grubby little cesspit.
@Another Typical Subbie
Have Complete Sympathy for Position you find yourself in, The great untold story is the way in which the Smaller Contractors have been treated in this whole mess,while Mc Cabe and Co Continue on regardless
http://www.independent.ie/business/irish/mccabe-builders-in-liquidation-amid-missing-millions-claim-3234057.html
http://www.irishtimes.com/newspaper/finance/2012/0912/1224323910566.html
Patrick,
It is a story that needs to be told. I have seen grwn men crying in the site office of these bastards, begging, literally begging for payment. ANd being met with a shrug of the shoulder and a “Nothing for you” reply.
I myself staged at sit in in one such office and would not let the site manager leave until I got the payment.
He eventually took the cheque from his drawer and gave it to me.
It was dated for December 18, that day was mid April.
He simply had it ina drawer and decided we should not be paid until he seen fit.
I genuinely hope men like him have lost everything.