One More Thing: More bad news for the Kellys

 

There is yet more bad news for Paddy and Simon Kelly, according to new documents. This time, a company called Trio Investment Trust has registered a judgment mortgage in the Companies Registration Office against SJR Quay Property Ltd, in relation to 11 and 11A Lime Street, Dublin 2. No amount is mentioned.

The latest annual return for SJR Quay Property Ltd, with an address on Fitzwilliam Square, is for the period to September 2011 and shows it was owned by Paddy and Simon Kelly, Brian and Alan McCormack, Fearghal O’Nolan, GT Pierse, Jim Kavanagh, Martin Murphy, Michael Flick and Norbert O’Reilly.


Latest accounts
The latest accounts on file for the company, dated October, 2012, show it had a shareholders’ deficit of €1.9 million at the end of 2010, and that the Irish Bank Resolution Corporation had a charge related to a loan issued to the company’s shareholders and connected to 11A Lime Street, which was owned by the shareholders but held in trust by the company. The company’s ability to continue as a going concern was dependent on its shareholders’ support.

Trio Investment Trust is owned by the Hickey and McGrath trusts, Derek Hickey, Maria Casey, Dolores Smyth, Rodell Reid and Rosario Hickey, and owns the property holding and letting subsidiary, DG Hickey & Co Ltd, which has a mortgage with AIB in relation to 12 and 13 Lime Street, according to its latest filed accounts.