Liquidator appointed to Haughey's Celtic Helicopters
A LIQUIDATOR has been appointed to Celtic Helicopters Ltd, the helicopter firm set up by Ciarán Haughey, son of late taoiseach Charles Haughey, and his business partner, John Barnicle.
The company, which was founded in 1985, ceased its charter service about three years ago, announcing its intention to focus on offering hangaring services to helicopter owners at its site near Dublin Airport.
The latest accounts for Celtic Helicopters Ltd showed losses at the helicopter operator widened to €1.78 million in 2010, from €1.584 million the previous year.
According to the auditors’ report, the company was dependent, through Medeva Properties Ltd, on the continued support of the Irish Banking Resolution Corporation (IBRC) and the support of other creditors to continue in business.
It is understood that loans to Medeva, which is also controlled by Mr Haughey and Mr Barnicle, have been transferred to Nama.
In its first report in 2006, the Moriarty tribunal found that a number of prominent businessmen gave significant funding to Celtic Helicopters when Mr Haughey was at the height of his political power.
Those who contributed included John O’Connell, owner of a lucrative medical publishing firm and, later, a minister for health. Hotelier PV Doyle and businessmen Séamus Purcell, Cruse Moss and Joseph Malone also provided funding.
Separately, Celtic Helicopters made a €689,945 tax settlement with Revenue in 2006.