Debts registered against Ahern associate

DAVID MCKENNA, the businessman and close associate of former taoiseach, Bertie Ahern, has had a number of substantial debts registered against him in the past two years.

In addition, a property developer who sold Mr McKenna a house in Blackrock, Co Dublin, has a charge registered against Mr McKenna’s former home, which has not been sold.

As reported last week, Mr McKenna did not contest a court action earlier this year where Permanent TSB sought repossession of his and his family’s home on Carysfort Downs, Blackrock.

Entries in Stubbs Gazette show that in June 2010 Mr McKenna had a €125,000 judgment registered against him in favour of a Declan O’Reilly of Tipper Road, Naas, Co Kildare.

Mr O’Reilly is a director of HT Meagher O’Reilly, property consultants.

In February 2011 Mr McKenna had a judgment of €100,000 awarded against him by developer Bill Kilmurray. Mr Kilmurray’s Woodford Developments was behind the Northwood development in Santry, Dublin. When contacted Mr O’Reilly, Mr Kilmurray and Mr McKenna would not comment on the debts.

The house that was repossessed from Mr McKenna and his wife earlier this year by Permanent TSB was bought by them in September 2008 from developer Myles Crofton, of Avenue Homes.

Earlier that year Mr McKenna had put his detached 743sq m home on Avoca Avenue, Blackrock, up for sale, hoping to get up to €7.5 million for the house, which has its own swimming and gym. However, the house did not sell.

Mr McKenna got a mortgage from Permanent TSB for the Carysfort Downs house but Mr Crofton also took out a charge against Mr McKenna’s Avoca Avenue property at the time.

The charge remains outstanding. Mr Crofton would not comment when contacted about the matter.

Last week, Mr McKenna said tenants were now living in the Avoca Avenue house with the rent going to the mortgage holder, KBC Bank. He said he was pursuing business interests in Jeddah and Dubai.

In 2008 Mr Crofton launched a scheme of more than 140 apartments in Blackrock on the site of the former home of businessman Tom Roche, which he had bought some years earlier for €45 million.

Noranda Vale Ltd, a holding company owned by Mr Crofton, recorded a €22 million loss in the year to the end of May 2009, the last year for which accounts are filed.

Mr McKenna’s recruitment firm, Marlborough, was formerly listed on the Irish Stock Exchange, but it collapsed in 2002.

His technology company, Vimio, was launched on the Alternative Investment Market in London in September 2005.

In the 2006 calendar year the company suffered a €2.8 million loss on a turnover of €1.3 million. The previous year it reported a €2.3 million loss on a turnover of €403,785.

The company, which was involved in the showing of TV on mobile phones, had a number of contracts in the Middle East. It did not publish accounts after 2006 and was dissolved in 2010.

Mr McKenna is one of a number of people who told the Mahon tribunal they had contributed to “dig-outs” for Mr Ahern, when he was minister for finance.