Petition to have Danninger Wound Up (Bohs Future Stadium Developer)

[Mr A]

I think this deserves a thread of its own.

If these guys are wound up then obviously Bohs stadium move is gone completely- but the big question is whether they would then not have to repay the monies already received from Danninger in the event that they lose the court case with Albion Properties...

So is this good or bad news for Bohs? Certainly they don't look likely to get any more money from these guys.

[pineapple stu]

If they get wound up and put into liquidation (and Shels and Cork both got over the petition four times between them before), then I'd imagine the liquidator would go about pursuing the company's debts straight away. If it's decided that the money given to Bohs is a debt, then Bohs would come under more pressure to pay it back. It'll probably have to run the Supreme Court appeal timeframe in any event though.

They weren't going to get any more money anyway. I think all the petition does is confirm that fact.

[Sam_Heggy]

So Bohs are likely to be pursued either way?

The soap opera continues.

[pineapple stu]

If it's ruled that they owe the money back, then yeah. Revenue are owed money from Danninger, and will obviously want every avenue explored in order to recoup some of it. Same for the other creditors.

[Buile Shuibhne]

Revenue are owed money from Danninger,

It's a company called Deepdrill Developments Ltd who are petitioning the High Court to wind up Danninger. I know a lot of other construction companies who are owed big money by Danninger also. They've done deals with some where they've accepted a percentage of the monies owed as full settlement.

Not sure if Revenue are effected?

[pineapple stu]

It's a company called Deepdrill Developments Ltd who are petitioning the High Court to wind up Danninger.
Fair enough; didn't look that far into it.

Same thing stands then, I assume, with Deepdrill in for Revenue.

[Dalymountrower]

If Danninger, aka Zoe Developments, is wound up, dozens of sub-contractors, employing hundreds of staff, will fold.
No idea how big Deepdrill are and whether they are a stalking horse for creditors. If Revenue aren`t on board in the application then it may simply be some posturing by a creditor.

Anyway, no doubt it will feed into the "wishing Bohs out of existence" three tissue fantasy of some posters.

[bad mongo]

danninger lost a HC case to Deep Drill and they are pursuing their award of costs. Developers suing developers, it's the new black.

[Dalymountrower]

Looks like they`re mortal enemies.


Liam Carroll settles €140,000 Danniger debt
In this section »
Regulator warns over mortgage lending practicesBuilder forever associated with his 'shoebox' apartmentsBARRY O'HALLORANONE OF the State's biggest developers has sidestepped a bid to have his main trading company wound up by settling a six-figure debt with a photographic agency.

The Liam Carroll-controlled Danninger yesterday settled an outstanding debt, said to be €140,000, with John Whyte Fine Art Photography Ltd, which had petitioned the High Court to have Danninger wound up.

Mr Whyte confirmed that his company had made a settlement with Danninger, although he would not go into details of the amount involved or the action that the firm had taken.

His lawyers, Gallagher Shatter, petitioned the court to wind up, or liquidate, the company in an effort to have the debt repaid.

Creditors of companies can seek to have them wound up to have the money the business owes to them paid back.

Danninger moved to settle the debt yesterday afternoon and avoided the necessity of having the issue raised in court.

Mr Whyte said yesterday that he believed that Danninger may have simply overlooked the debt in the first place. He added that his business had a good working relationship with Mr Carroll's operations.

Efforts to contact Mr Carroll yesterday for a comment were not successful.

Mr Carroll's companies have been involved in a number of court actions in the past, largely related to disputes over planning or property transactions.

Last year, Danninger challenged a Dublin Bus decision to award the €30 million contract for the construction of a new bus interchange in the capital's centre to Deepdrill Developments and Bennett Construction.

In the past, his companies have clashed with those of another developer, Noel Smyth, from whom he took control of the former Dunloe Ewart property group in 2002 after a protracted takeover battle.

The low-profile Mr Carroll is one of the most active property developers in the State, and has a range of operating companies, one of the largest of which is Danninger, an unlimited company with offices on Parnell Street on Dublin's northside.

Through the 1990s, his Zoe Developments built a large number of apartments, mainly in Dublin's city centre, and he earned money from selling, renting and managing these properties.

One of his higher profile developments is the converted gasworks in the Ringsend area of Dublin.

His takeover of Dunloe Ewart gave him the Cherrywood business park in Loughlinstown in Dublin, which he is currently developing, and a considerable landbank in the city's south docklands.

He is one of the bigger players in Dublin's docklands. He has also invested in listed companies. He owns over 26 per cent of ICG, the parent of Irish Ferries, which was the focus of two rival bids, one from its management and the other from a consortium made up of Doyle Shipping and Philip Lynch.

That is due to come into play shortly following a moratorium imposed by the Takeover Panel.

Mr Carroll has at various times bought and sold stakes in other quoted companies

[pineapple stu]

When's that dated? Is the art petition different to the Deepdrill one?

[Mr A]

That's from October last year.. interesting stuff though.

[pete]

Looks like they`re mortal enemies.

[I]Liam Carroll settles €140,000 Danniger debt
In this section »
Regulator warns over mortgage lending practicesBuilder forever associated with his 'shoebox' apartmentsBARRY O'HALLORANONE OF the State's biggest developers has sidestepped a bid to have his main trading company wound up by settling a six-figure debt with a photographic agency.

Please add a link to article.

[Dalymountrower]

Please add a link to article.


Sorry, beyond my ltd technical ability. It`s from the "paper of record" and can be located from their archives. Most of the quote is irrelevant other than it gives some indication of the emnity beween them.
Mods might consider editing title of the thread to be on the safe side?

[John83]

Sorry, beyond my ltd technical ability. It`s from the "paper of record" and can be located from their archives. Most of the quote is irrelevant other than it gives some indication of the emnity beween them.
Mods might consider editing title of the thread to be on the safe side?
http://www.irishtimes.com/newspaper/finance/2008/1023/1224625123887.html

[pineapple stu]

Mods might consider editing title of the thread to be on the safe side?
What to? Thread title seems accurate enough?

[Dalymountrower]

Not terribly accurate, Danninger was never in the frame to develop a "future stadium" for Bohs. Carry on.

[pineapple stu]

Funny, the stadium developer bit wasn't in the title up until after you posted?

Anyhoo, back on topic.

[RoversHead]

[quote=Dalymountrower;1160354]Not terribly accurate, Danninger was never in the frame to develop a "future stadium" for Bohs. Carry on.[/quote } Drugs..........has to be.

[Dalymountrower]

Not what your accounts suggested but carry on.

I do realise that approving and lodging accounts is a recent initiative for the most recent incarnation of your "club" , I did have a look at set of your accounts a short number of years ago, apparently you were so proud of them that you submitted the same ones two years in succession to the FAI. I seem to recall that there was some associated unpleasentness re point deductions , examinership etc.
Bohs have been crafting and lodging accounts for the past 117 years to the extent that they have evolved to a point where they can be described as "art" rather than a "science".The reference to any stadium development, if such reference exists in the accounts, could possibly be a literary device, allusion , irony, edifice complex, a rhyming couplet?
Thank you for your ongoing interest in our club.

[placid casual]

Going, going, Gone !!:)

Are you heading to the game tomorrow, spanner ?
you'll get to see your bitterest rivals in their new ground, full house,optimisism unbound !!:p

or maybe your staying put in your rat infested pi$$ smelling dalymount bar to watch the game instead.

win, lose or draw we will be smiling!!

[Dalymountrower]

Going, going, Gone !!:)

Are you heading to the game tomorrow, spanner ?
you'll get to see your bitterest rivals in their new ground, full house,optimisism unbound !!:p

or maybe your staying put in your rat infested pi$$ smelling dalymount bar to watch the game instead.

win, lose or draw we will be smiling!!


Well yes I`ll be at the match as a guest of the owners, South Dublin County Council. My optimisism, as you say , will be unbound.
May the best team win.