Although NAMA might be paying 168 developers to manage their own property, in today’s edition of Iris Oifigiuil we see the other side of the coin as NAMA has receivers appointed to 11 companies, of which eight are new companies which have not been subject to NAMA foreclosure action before. 10 of the 11 companies are part of Michael Whelan’s Moritz group, one company shown at the end is entirely separate. NAMA has already had receivers appointed to some companies in the Moritz group and there is on-going litigation in Dublin’s High Court where Moritz is being represented by another NAMA developer, Noel Smyth.
Here are the details of the Moritz receiverships – all receiverships were effected on 19th September 2012
(1) NU-ART FORGE LIMITED Michael Coyle and Simon Davidson of HWBC Allsop appointed receivers. Directors are Alex Brett (49) Michael Whelan (35) [owned by C&D Providers (Wexford) Limited, ultimately owned by Moritz]
(2) C. & D. PROVIDERS (WEXFORD) LIMITED Michael Coyle and Simon Davidson of HWBC Allsop appointed receivers. Director is Michael Whelan (35) [owned by Mithra Limited, ultimately owned by Moritz]
(3) COMMONS HARDWARE LIMITED Michael Coyle and Simon Davidson of HWBC Allsop appointed receivers. Director is Michael Whelan (35) [owned by Diarmuid O’Byrne (1.5%), John O’Byrne (2.25%) Roisin O’Byrne (1.5%) Moritz Trading Limited 92.5%]
(4) MITHRA LIMITED Michael Coyle and Simon Davidson of HWBC Allsop appointed receivers. Directors are Alex Brett (49) Michael Whelan (35) [owned by Moritz Trading Limitedwhich is in turn owned by Moritz Holdings (80%) and Sean Moran (20%)]
(5) T.J. O’MAHONY & SONS (HOLDINGS) LIMITED Michael Coyle and Simon Davidson of HWBC Allsop appointed receivers. Director is Michael Whelan (35) [owned by Moritz Trading Limited]
(6) JAMES McGAURAN & SON LIMITED Michael Coyle and Simon Davidson of HWBC Allsop appointed receivers. Directors are Michael Whelan (59), Michael Whelan (35) [owned by Moritz Trading Limited]
(7) LAURENCE CUFFE & SONS LIMITED Michael Coyle and Simon Davidson of HWBC Allsop appointed receivers. Directors are Michael Whelan (59), Michael Whelan (35) [owned by Moritz Trading Limited]
(8) RUMBOLD BUILDERS Michael Coyle and Simon Davidson of HWBC Allsop appoinyed receivers. Directors are Rob Flynn (50) Michael Whelan (35) [owned by Moritz Trading Limited]
(9) MAPLEWOOD DEVELOPMENTS Michael Coyle and Simon Davidson of HWBC Allsop appointed receivers. Directors are Rob Flynn (50) Michael Whelan (35) [owned Barby Unlimited, Maplewood Homes]
The unrelated company is
(1) HOLLIOAKE LIMITED Jim Stafford of Friel Stafford appointed receiver. Directors are David Fraher (59) David D’Alton (59) [owned by (1) Bafousal Enterprises Limited owned by Beatrice Durkan and William Durkan,(2) David D’Alton and (3) Holliake Land Limited owned by John Doody and David D’Alton]
Remember you can see a comprehensive list of Irish foreclosure action by NAMA here and in this regularly updated spreadsheet.
