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Dáil
‹ Ceisteanna ar Pholasaí nó ar Reachtaíocht - Questions on Policy or Legislation

Rathmolyon housing liquidation

Summary

Peadar Tóibín described families in Rathmolyon who had paid deposits years ago and were now facing liquidation and loss after a problematic development structure. The Taoiseach called it appalling, said he would speak to Ministers, and later added that he would also consider Revenue’s role.

Yesterday, families from Rathmolyon, County Meath, gathered in a Dublin hotel to attend a liquidation meeting. These families spent tens of thousands of euros on deposits for homes five years ago. In the intervening period, many have put off having a family while they were waiting, some were forced to move back into their parents' houses and others have spent €50,000 on rent. Two companies with the same owners and directors have used company law to allow the developer to become a secured creditor, putting himself at the top of a hierarchy of people to be paid in his own liquidation. He has also been put in charge of the liquidation process. His actions will lead to other creditors, families and Revenue getting burned for what is owed to them.

The meeting I attended was chaotic. Everything was disputed. It exposed great wrongs in the system. The key issue for the Government is that Revenue is likely to get burned for €700,000. Will the Taoiseach raise with Revenue the need for it to appeal to the High Court to overturn the current liquidator and seek an independent third-party liquidator?

Comment on this

I fully accept the appalling situation in Rathmolyon, County Meath. It is a very distressing situation facing a number of individuals and families who entered into contracts in good faith for the purchase of their houses and homes in the Ringfort development. I understand the frustration and the anger. I will talk to a number of Ministers. Again, this is the behaviour of companies and individuals. There are legal frameworks governing all of this. I do not want to comment in terms of where this might go but my ultimate priority is to try to see how we can help the families concerned. Again, the State is not responsible for what has transpired here.

Comment on this
Verona Murphy An Ceann Comhairle Independent

I thank the Taoiseach.

Comment on this

It is unacceptable and a terrible imposition on the families concerned.

Comment on this

Can the Taoiseach talk to Revenue as well? It has a role here.

Comment on this
Verona Murphy An Ceann Comhairle Independent

I thank the Deputy. That concludes Questions on Policy or Legislation.

Comment on this