ewd3
December 10, 2008, 10:47am
#1
irishtimes.com/newspaper/finance/2008/1210/1228849742808.html
Liquidator wants company directors to be made liable for €3.2m debts
THE HIGH Court has been asked to find two directors of a liquidated building company personally liable for its debts of €3.2 million, including €2.1 million in under-declared tax liabilities to the Revenue.
Peter Killeen and Lorraine Higgins, who were the only directors of PSK Construction Ltd, should be made liable for those debts and should also be disqualified or restricted from future involvement in companies, the liquidator of the firm has argued.
PSK, based in Naas, Co Kildare, employed about 160 workers in subcontracting work on major sites around Dublin before it went into voluntary liquidation in March 2006.
The liquidator, Tom Kavanagh, claims Mr Killeen was a party to the carrying on of the business of PSK with intent to defraud creditors of the company. He also claims Mr Killeen and Ms Higgins carried on the business of the company in a reckless manner. … CNTD AT LINK ABOVE
Typical of the reckless corruption and theft in the property game.
by not paying tax these people not only defrauded the state but effectively took business from solvent companies who couldd have done the same work.
When they did go insolvent a new company took over the contracts. By pure coincidence this new company was owned and run by the son.
Those who wish Ireland was closer to Boston than Berlin should start by Jailing tax defrauders like they do in the states.
LArge scale Tax fraud?
Go to jail.
This isn’t a case of minor errors this is a case of blatantly using tax withheld from employees and suppliers to run the company.
Pill
December 10, 2008, 3:47pm
#2
ewd3:
irishtimes.com/newspaper/finance/2008/1210/1228849742808.html
Liquidator wants company directors to be made liable for €3.2m debts
THE HIGH Court has been asked to find two directors of a liquidated building company personally liable for its debts of €3.2 million, including €2.1 million in under-declared tax liabilities to the Revenue.
Peter Killeen and Lorraine Higgins, who were the only directors of PSK Construction Ltd, should be made liable for those debts and should also be disqualified or restricted from future involvement in companies, the liquidator of the firm has argued.
PSK, based in Naas, Co Kildare, employed about 160 workers in subcontracting work on major sites around Dublin before it went into voluntary liquidation in March 2006.
The liquidator, Tom Kavanagh, claims Mr Killeen was a party to the carrying on of the business of PSK with intent to defraud creditors of the company. He also claims Mr Killeen and Ms Higgins carried on the business of the company in a reckless manner. … CNTD AT LINK ABOVE
Typical of the reckless corruption and theft in the property game.
by not paying tax these people not only defrauded the state but effectively took business from solvent companies who couldd have done the same work.
When they did go insolvent a new company took over the contracts. By pure coincidence this new company was owned and run by the son.
Those who wish Ireland was closer to Boston than Berlin should start by Jailing tax defrauders like they do in the states.
LArge scale Tax fraud?
Go to jail.
This isn’t a case of minor errors this is a case of blatantly using tax withheld from employees and suppliers to run the company.
Agreed. Directors who are found guilty of ‘large scale fraud’ should be jailed (I have no comment to make in relation to the guilt/innocence of the Directors in the case mentioned above).
It’s not just the property game. I have first-hand experience of exactly the same carry-on in IT!
This country is corrupt from top to bottom and across every industry.
I think the liquidator wants something more than just jail time, I think he is talking about getting back the ill-gotten wealth from where-ever it has gone. While I understand this is possible in fraud, reckless trading can be difficult to prove and difficult to get personal assets.
elgreco
December 10, 2008, 4:55pm
#5
Only in cases of serious fraud will the High Court on for incorporating is to protect your personal assets from creditors when things go tits-up either voluntarily or involuntarily. In the current climate it’ll be interesting to see what approach is taken by either the ODCE or the fraud squad.