THE PARENT of one of the Republic’s biggest building groups is applying to change its status from limited to unlimited, according to recent filings with the Companies’ Registration Office (CRO).
Pierse Construction parent Birmayne Ltd has applied to the registrar to become an unlimited company, a move that will relieve it of the obligation to file annual accounts.
By changing its status, shareholders are no longer protected by limited liability. Because the shareholders do not have this protection, such firms do not have to publish financial information. However, they are obliged to make annual returns detailing who the shareholders and directors are.
Pierse is one of the biggest builders in the State, and was active in both residential, civil engineering and commercial projects.
The developments on which it has worked included Heuston Square near Dublin’s Heuston Station, the Ballymun regeneration project, Carton House in Kildare and Carrickmines Manor.
At the end of its 2007 financial year, April 30th, it had turnover of €474 million and profits of €1.7 million.
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