Lyndonbarry Developments placed in liquidation

A RESIDENTIAL and commercial property company backed by developers Patrick Doyle and Albert Hanly has been placed in liquidation because it is unable to meet its liabilities.

Anthony Weldon of Dublin firm Kieran Ryan and Company was recently appointed as liquidator to Lyndonbarry Developments, which Mr Doyle and Mr Hanly own.

The resolution appointing Mr Weldon states that the company “cannot by reason of its liabilities continue in business” and for that reason should be wound up.

Mr Doyle and Mr Hanly are named as directors and shareholders on company documents. Attempts to contact either of them yesterday were not successful.

Both Anglo Irish Bank and ACC are listed as secured creditors.

Lyndonbarry was mainly focused on the north Dublin area. Its website advertises a number of developments, such as Parkview and Heywood Court.

Commercial developments in which it is involved include the M1 Drogheda retail park and the Arcadia Centre close to Athlone.

A number of other entities controlled by Mr Doyle and Mr Hanly – Mellview Developments, Laragan and the Doyle Hanly Partnership – are involved in these projects.

The three other businesses are still trading and properties at developments such as Parkview are still for sale.

One of the company’s directors and shareholders, developer Patrick Doyle, was in the news earlier this year when family members of businessman and Senator Fergal Quinn registered judgments against him totalling €7.3 million.

In November 2006, they lent him €1 million each, at a rate of 15 per cent a year, which he agreed to pay by May 2008. The judgment was registered after he agreed a settlement with the Quinns in February.