Accountant and insolvency practitioner John Donnelly dies aged 90
Former chairman of Deloitte and Touche was known for taking on challenging work
The former chairman of Deloitte and Touche developed expertise in several areas including tax and corporate restructuring.
John Donnelly, high-profile accountant and leading insolvency practitioner, has died aged 90.
One of his most successful receiverships was Murphy’s Brewery in Cork, since bought by Heineken, in 1982, which he turned from a multimillion loss to a €500,000 profit in eight months.
Another was manufacturing equipment maker, Atlantic Magnetics, a receivership that led to a precedent-setting case on examinership law. Others included the long-drawn out Ranks liquidation, Dublin Cargo Handling and Eurokabin.
Contemporaries held Mr Donnelly in high regard. Laurence Crowley, former Bank of Ireland governor and partner in Stokes Kennedy Crowley, now part of KPMG, described him as a “very very fine” practitioner.
“He did some very important receiverships and was just a great personality,” said Mr Crowley.
Mr Donnelly took over what had been his father’s firm, Gardner Donnelly, shortly after qualifying as a chartered accountant in the early 1950s.
He expanded that business, eventually merging it with Deloitte and Touche. Mr Donnelly developed expertise in several areas including tax and corporate restructuring.